4,800 Shares in Root, Inc. (NASDAQ:ROOT) Purchased by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC bought a new stake in shares of Root, Inc. (NASDAQ:ROOT) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 4,800 shares of the company’s stock, valued at approximately $348,000.

Several other hedge funds and other institutional investors have also bought and sold shares of ROOT. State Street Corp raised its holdings in shares of Root by 0.3% during the third quarter. State Street Corp now owns 176,891 shares of the company’s stock valued at $6,683,000 after purchasing an additional 444 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Root in the 4th quarter worth approximately $1,952,000. Bank of New York Mellon Corp raised its stake in Root by 36.0% during the 4th quarter. Bank of New York Mellon Corp now owns 24,438 shares of the company’s stock valued at $1,774,000 after buying an additional 6,465 shares during the last quarter. Nordea Investment Management AB lifted its holdings in shares of Root by 7.3% during the 4th 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 during the period. Finally, FMR LLC boosted its stake in shares of Root by 966.2% in the 3rd quarter. FMR LLC now owns 18,040 shares of the company’s stock worth $682,000 after buying an additional 16,348 shares during the last quarter. Institutional investors own 59.82% of the company’s stock.

Analyst Upgrades and Downgrades

ROOT has been the subject of a number of research reports. JMP Securities cut Root from an “outperform” rating to a “market perform” rating in a research report on Friday, November 22nd. Citizens Jmp lowered shares of Root from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 22nd. Wells Fargo & Company reissued a “buy” rating on shares of Root in a report on Sunday, March 2nd. UBS Group upped their target price on shares of Root from $67.00 to $130.00 and gave the company a “neutral” rating in a report on Friday, March 7th. Finally, Scotiabank reiterated a “sector perform” rating on shares of Root in a research note on Sunday, March 2nd. Five investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $88.33.

Root Stock Performance

Shares of NASDAQ ROOT opened at $150.80 on Wednesday. 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, Inc. has a 1 year low of $34.04 and a 1 year high of $154.52. The firm has a fifty day moving average price of $109.57 and a 200-day moving average price of $79.35. The stock has a market cap of $2.29 billion, a PE ratio of -122.60 and a beta of 2.48.

Root (NASDAQ:ROOT) last posted its quarterly 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 for the quarter, compared to analysts’ expectations of $287.79 million. Root had a negative return on equity of 9.81% and a negative net margin of 1.56%. Equities analysts anticipate that Root, Inc. will post -0.08 earnings per share for the current fiscal year.

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.