Mitsubishi UFJ Asset Management Co. Ltd. Purchases New Holdings in Root, Inc. (NASDAQ:ROOT)

Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Root, Inc. (NASDAQ:ROOT - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 4,941 shares of the company's stock, valued at approximately $372,000.

Other institutional investors also recently modified their holdings of the company. FMR LLC increased its position in Root by 966.2% in the 3rd quarter. FMR LLC now owns 18,040 shares of the company's stock valued at $682,000 after acquiring an additional 16,348 shares in the last quarter. Barclays PLC grew its stake in shares of Root by 361.6% during the third quarter. Barclays PLC now owns 14,033 shares of the company's stock valued at $529,000 after purchasing an additional 10,993 shares during the last quarter. Nordea Investment Management AB grew its stake in shares of Root by 7.3% during the fourth quarter. Nordea Investment Management AB now owns 20,697 shares of the company's stock valued at $1,497,000 after purchasing an additional 1,416 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of Root in the third quarter valued at approximately $428,000. Finally, Franklin Resources Inc. bought a new position in Root in the 3rd quarter worth approximately $249,000. Institutional investors own 59.82% of the company's stock.

Insider Activity at Root

In other Root news, Director Doug Ulman sold 2,000 shares of the company's stock in a transaction on Monday, March 24th. The shares were sold at an average price of $175.00, for a total value of $350,000.00. Following the transaction, the director now directly owns 6,201 shares in the company, valued at $1,085,175. The trade was a 24.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Alexander E. Timm sold 1,144 shares of the company's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $134.01, for a total value of $153,307.44. Following the completion of the transaction, the chief executive officer now directly owns 161,625 shares in the company, valued at approximately $21,659,366.25. This represents a 0.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 8,659 shares of company stock worth $1,191,469. 11.71% of the stock is owned by company insiders.

Analysts Set New Price Targets

ROOT has been the topic of a number of recent research reports. UBS Group increased their price objective on Root from $67.00 to $130.00 and gave the company a "neutral" rating in a research report on Friday, March 7th. Scotiabank reiterated a "sector perform" rating on shares of Root in a report on Sunday, March 2nd. Finally, Wells Fargo & Company reiterated a "buy" rating on shares of Root in a research report on Sunday, March 2nd. Five analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $88.33.

Root Trading Down 4.1 %

NASDAQ ROOT traded down $4.66 on Tuesday, reaching $108.10. The company had a trading volume of 718,344 shares, compared to its average volume of 522,282. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 1.65. Root, Inc. has a 52 week low of $34.04 and a 52 week high of $181.14. The stock has a market cap of $1.64 billion, a price-to-earnings ratio of -87.89 and a beta of 2.41. The stock's 50 day moving average is $127.03 and its 200-day moving average is $90.05.

Root (NASDAQ:ROOT - Get Free Report) last released its quarterly earnings data on Wednesday, February 26th. The company reported $1.30 earnings per share for the quarter, topping the consensus estimate of ($0.63) by $1.93. Root had a negative net margin of 1.56% and a negative return on equity of 9.81%. The business had revenue of $326.70 million for the quarter, compared to analyst estimates of $287.79 million. Equities analysts predict that Root, Inc. will post -0.08 earnings per share for the current year.

Root Profile

Root, Inc provides insurance products and services in the United States. The company offers automobile, homeowners, and renters insurance products. It operates a direct-to-consumer model; and serves customers primarily through mobile applications, as well as through its website. The company's direct distribution channels also cover digital, media, and referral channels, as well as distribution partners and agencies.