Root (NASDAQ:ROOT) Shares Down 7.9% on Insider Selling

Root, Inc. (NASDAQ:ROOT - Get Free Report) fell 7.9% on Wednesday after an insider sold shares in the company. The company traded as low as $162.58 and last traded at $155.16. 115,044 shares were traded during trading, a decline of 77% from the average session volume of 506,422 shares. The stock had previously closed at $168.56.

Specifically, Director Doug Ulman sold 2,000 shares of the business'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 owns 6,201 shares in the company, valued at $1,085,175. The trade was a 24.39 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Analyst Ratings Changes

Several research analysts recently commented on ROOT shares. Scotiabank reiterated a "sector perform" rating on shares of Root in a research note on Sunday, March 2nd. Wells Fargo & Company reaffirmed a "buy" rating on shares of Root in a research report on Sunday, March 2nd. Finally, UBS Group raised their price target on shares of Root from $67.00 to $130.00 and gave the stock a "neutral" rating in a research report on Friday, March 7th. Five equities research 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.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $88.33.

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Root Trading Down 8.1 %

The stock has a market cap of $2.08 billion, a price-to-earnings ratio of -111.33 and a beta of 2.48. The business's fifty day simple moving average is $121.42 and its 200 day simple moving average is $85.61. The company has a debt-to-equity ratio of 1.65, a current ratio of 1.39 and a quick ratio of 1.39.

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 firm had revenue of $326.70 million for the quarter, compared to analyst estimates of $287.79 million. On average, research analysts predict that Root, Inc. will post -0.08 EPS for the current year.

Institutional Trading of Root

Hedge funds have recently made changes to their positions in the stock. Russell Investments Group Ltd. increased its position in Root by 651.8% in the fourth quarter. Russell Investments Group Ltd. now owns 421 shares of the company's stock worth $31,000 after buying an additional 365 shares during the period. Point72 DIFC Ltd bought a new stake in Root in the 3rd quarter valued at about $33,000. KLP Kapitalforvaltning AS acquired a new position in Root during the 4th quarter valued at about $94,000. Aquatic Capital Management LLC grew its position in Root by 92.1% in the 4th quarter. Aquatic Capital Management LLC now owns 1,537 shares of the company's stock worth $112,000 after purchasing an additional 737 shares during the last quarter. Finally, SBI Securities Co. Ltd. acquired a new stake in shares of Root in the fourth quarter valued at approximately $154,000. Institutional investors own 59.82% of the company's stock.

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.