Root (NASDAQ:ROOT) Trading Down 6%

Shares of Root, Inc. (NASDAQ:ROOTGet Free Report) traded down 6% during mid-day trading on Monday . The stock traded as low as $42.21 and last traded at $42.31. 120,022 shares were traded during trading, a decline of 79% from the average session volume of 580,283 shares. The stock had previously closed at $45.03.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on ROOT. Wells Fargo & Company boosted their price objective on Root from $64.00 to $78.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 1st. Jefferies Financial Group upgraded Root from a “hold” rating to a “buy” rating and lifted their target price for the company from $10.00 to $40.00 in a research note on Friday, March 1st. TD Cowen upped their price target on Root from $11.00 to $51.00 and gave the stock a “hold” rating in a research note on Wednesday, June 5th. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $80.00 price objective (up from $70.00) on shares of Root in a research note on Tuesday, May 7th. Finally, JMP Securities raised their target price on shares of Root from $15.00 to $90.00 and gave the stock a “market outperform” rating in a research note on Wednesday, May 1st. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Root presently has a consensus rating of “Hold” and a consensus price target of $41.89.

Get Our Latest Stock Analysis on Root

Root Price Performance

The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 1.81. The company’s fifty day moving average is $55.86 and its 200 day moving average is $36.69. The stock has a market cap of $658.28 million, a PE ratio of -5.80 and a beta of 2.59.

Root (NASDAQ:ROOTGet Free Report) last announced its quarterly earnings results on Tuesday, April 30th. The company reported ($0.42) earnings per share for the quarter, topping analysts’ consensus estimates of ($2.51) by $2.09. Root had a negative net margin of 17.61% and a negative return on equity of 62.36%. The firm had revenue of $254.90 million during the quarter, compared to analysts’ expectations of $203.99 million. During the same period in the prior year, the company earned ($2.88) EPS. The firm’s revenue was up 263.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Root, Inc. will post -4.81 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Root news, major shareholder Meyer Malka sold 13,300 shares of the stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $60.58, for a total transaction of $805,714.00. Following the transaction, the insider now directly owns 43,107 shares in the company, valued at approximately $2,611,422.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Beth A. Birnbaum sold 1,735 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $43.67, for a total transaction of $75,767.45. Following the completion of the transaction, the director now owns 16,013 shares in the company, valued at approximately $699,287.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Meyer Malka sold 13,300 shares of the stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $60.58, for a total value of $805,714.00. Following the completion of the sale, the insider now directly owns 43,107 shares in the company, valued at $2,611,422.06. The disclosure for this sale can be found here. 11.71% of the stock is owned by company insiders.

Institutional Trading of Root

A number of large investors have recently modified their holdings of ROOT. Citigroup Inc. increased its stake in shares of Root by 218,250.0% in the third quarter. Citigroup Inc. now owns 4,367 shares of the company’s stock valued at $42,000 after purchasing an additional 4,365 shares during the period. Barclays PLC raised its stake in Root by 229,380.0% during the 3rd quarter. Barclays PLC now owns 11,474 shares of the company’s stock valued at $109,000 after acquiring an additional 11,469 shares in the last quarter. Corton Capital Inc. acquired a new position in Root during the 3rd quarter worth $120,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Root during the third quarter valued at $158,000. Finally, Jump Financial LLC bought a new stake in shares of Root during the fourth quarter valued at about $234,000. Institutional investors and hedge funds own 59.82% of the company’s stock.

About Root

(Get Free Report)

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.

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