Insider Selling: Root, Inc. (NASDAQ:ROOT) Director Sells $350,000.00 in Stock

Root, Inc. (NASDAQ:ROOT) 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 transaction of $350,000.00. Following the transaction, the director now directly owns 6,201 shares of the company’s stock, valued at approximately $1,085,175. This trade represents a 24.39 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Root Trading Down 8.1 %

Shares of NASDAQ:ROOT opened at $136.93 on Friday. The company has a 50 day moving average of $121.42 and a 200-day moving average of $85.27. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 1.65. The firm has a market cap of $2.08 billion, a P/E ratio of -111.33 and a beta of 2.48. Root, Inc. has a twelve month low of $34.04 and a twelve month high of $181.14.

Root (NASDAQ:ROOT) last released its earnings results on Wednesday, February 26th. The company reported $1.30 earnings per share for the quarter, topping 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 firm had revenue of $326.70 million during the quarter, compared to the consensus estimate of $287.79 million. As a group, analysts anticipate that Root, Inc. will post -0.08 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in Root by 16.2% in the 4th quarter. Vanguard Group Inc. now owns 526,928 shares of the company’s stock valued at $38,250,000 after acquiring an additional 73,413 shares during the last quarter. T. Rowe Price Investment Management Inc. acquired a new stake in Root during the fourth quarter valued at approximately $29,661,000. Renaissance Technologies LLC boosted its holdings in Root by 41.8% during the fourth quarter. Renaissance Technologies LLC now owns 263,515 shares of the company’s stock worth $19,129,000 after buying an additional 77,699 shares in the last quarter. State Street Corp grew its position in Root by 0.3% in the third quarter. State Street Corp now owns 176,891 shares of the company’s stock worth $6,683,000 after buying an additional 444 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Root by 163.2% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 127,923 shares of the company’s stock valued at $9,286,000 after buying an additional 79,317 shares in the last quarter. 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.