Root, Inc. (NASDAQ:ROOT) Insider Mahtiyar Bonakdarpour Sells 5,515 Shares

Root, Inc. (NASDAQ:ROOT - Get Free Report) insider Mahtiyar Bonakdarpour sold 5,515 shares of the company's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $124.78, for a total value of $688,161.70. Following the completion of the sale, the insider now owns 286,901 shares in the company, valued at $35,799,506.78. This trade represents a 1.89 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Root Stock Down 4.1 %

NASDAQ:ROOT traded down $4.66 during trading hours on Tuesday, reaching $108.10. The company had a trading volume of 718,344 shares, compared to its average volume of 522,282. The business's 50-day simple moving average is $127.03 and its two-hundred day simple moving average is $90.05. Root, Inc. has a twelve month low of $34.04 and a twelve month high of $181.14. The firm has a market cap of $1.64 billion, a price-to-earnings ratio of -87.89 and a beta of 2.41. 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 (NASDAQ:ROOT - Get Free Report) last issued its earnings results on Wednesday, February 26th. The company reported $1.30 EPS for the quarter, beating analysts' consensus estimates of ($0.63) by $1.93. The business had revenue of $326.70 million during the quarter, compared to analyst estimates of $287.79 million. Root had a negative return on equity of 9.81% and a negative net margin of 1.56%. On average, equities analysts expect that Root, Inc. will post -0.08 earnings per share for the current year.

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Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ROOT. Scotiabank restated a "sector perform" rating on shares of Root in a research report on Sunday, March 2nd. Wells Fargo & Company restated a "buy" rating on shares of Root in a report on Sunday, March 2nd. Finally, UBS Group increased their price target on Root from $67.00 to $130.00 and gave the stock a "neutral" rating in a report on Friday, March 7th. Five investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $88.33.

Hedge Funds Weigh In On Root

Institutional investors have recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Root by 3.6% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,912 shares of the company's stock valued at $357,000 after purchasing an additional 171 shares in the last quarter. MetLife Investment Management LLC grew its holdings in shares of Root by 5.0% during the fourth quarter. MetLife Investment Management LLC now owns 5,382 shares of the company's stock valued at $391,000 after buying an additional 255 shares during the last quarter. Legal & General Group Plc increased its position in shares of Root by 3.6% during the fourth quarter. Legal & General Group Plc now owns 7,955 shares of the company's stock worth $577,000 after acquiring an additional 273 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in shares of Root by 651.8% in the 4th quarter. Russell Investments Group Ltd. now owns 421 shares of the company's stock worth $31,000 after acquiring an additional 365 shares during the last quarter. Finally, State Street Corp lifted its position in Root by 0.3% in the 3rd quarter. State Street Corp now owns 176,891 shares of the company's stock valued at $6,683,000 after acquiring an additional 444 shares in the last quarter. 59.82% of the stock is owned by institutional investors and hedge funds.

Root Company 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.