Root (NASDAQ:ROOT) Shares Down 10.1% - Should You Sell?

Root, Inc. (NASDAQ:ROOT - Get Free Report)'s stock price fell 10.1% during trading on Monday . The company traded as low as $116.45 and last traded at $116.70. 167,966 shares changed hands during mid-day trading, a decline of 68% from the average session volume of 519,290 shares. The stock had previously closed at $129.74.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Keefe, Bruyette & Woods increased their price target on shares of Root from $90.00 to $150.00 and gave the company an "outperform" rating in a research note on Tuesday. Scotiabank reissued a "sector perform" rating on shares of Root in a report on Sunday, March 2nd. Wells Fargo & Company lifted their target price on shares of Root from $97.00 to $105.00 and gave the company an "equal weight" rating in a report on Thursday, April 10th. UBS Group upped their price target on shares of Root from $67.00 to $130.00 and gave the company a "neutral" rating in a research report on Friday, March 7th. Finally, Jefferies Financial Group raised their price objective on shares of Root from $115.00 to $150.00 and gave the stock a "buy" rating in a research report on Friday, April 11th. Six investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $112.67.

Root Trading Down 1.2 %

The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 1.65. The company's fifty day moving average price is $131.17 and its two-hundred day moving average price is $97.52. The firm has a market cap of $2.25 billion, a PE ratio of -120.98 and a beta of 2.41.

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

Insider Transactions at Root

In other news, Director Doug Ulman sold 2,000 shares of the firm's stock in a transaction on Monday, March 24th. The stock was sold at an average price of $175.00, for a total transaction of $350,000.00. Following the sale, the director now owns 6,201 shares in the company, valued at $1,085,175. This trade represents 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 through this link. Also, insider Mahtiyar Bonakdarpour sold 5,515 shares of the firm's stock in a transaction dated Wednesday, April 2nd. The stock was 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 directly owns 286,901 shares in the company, valued at approximately $35,799,506.78. The trade was a 1.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 8,659 shares of company stock valued at $1,191,469 in the last ninety days. 11.71% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Root

Several institutional investors and hedge funds have recently bought and sold shares of ROOT. State Street Corp boosted its holdings in Root by 0.3% in the third 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 during the last quarter. MML Investors Services LLC acquired a new stake in Root during the 3rd quarter worth approximately $288,000. Barclays PLC raised its holdings in Root by 361.6% in the third quarter. Barclays PLC now owns 14,033 shares of the company's stock valued at $529,000 after buying an additional 10,993 shares during the period. Franklin Resources Inc. purchased a new position in Root in the third quarter valued at approximately $249,000. Finally, Nordea Investment Management AB lifted its position in 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 buying an additional 1,416 shares in the last quarter. Institutional investors and hedge funds own 59.82% of the company's stock.

About Root

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.