Mahtiyar Bonakdarpour Sells 5,515 Shares of Root, Inc. (NASDAQ:ROOT) Stock

Root, Inc. (NASDAQ:ROOT) insider Mahtiyar Bonakdarpour sold 5,515 shares of the business’s stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $124.78, for a total transaction of $688,161.70. Following the transaction, the insider now owns 286,901 shares of the company’s stock, valued at $35,799,506.78. This represents a 1.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Root Stock Down 6.7 %

Root stock opened at $112.37 on Friday. The company has a debt-to-equity ratio of 1.65, a current ratio of 1.39 and a quick ratio of 1.39. The stock has a market capitalization of $1.71 billion, a PE ratio of -91.36 and a beta of 2.41. The business has a 50 day simple moving average of $125.54 and a 200-day simple moving average of $88.25. Root, Inc. has a 12 month low of $34.04 and a 12 month high of $181.14.

Root (NASDAQ:ROOT) last issued its quarterly earnings results on Wednesday, February 26th. The company reported $1.30 EPS for the quarter, topping the consensus estimate of ($0.63) by $1.93. The company had revenue of $326.70 million during the quarter, compared to analyst estimates of $287.79 million. Root had a negative net margin of 1.56% and a negative return on equity of 9.81%. On average, analysts anticipate that Root, Inc. will post -0.08 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Wells Fargo & Company reiterated a “buy” rating on shares of Root in a research note on Sunday, March 2nd. Scotiabank reissued a “sector perform” rating on shares of Root in a report on Sunday, March 2nd. Finally, UBS Group raised their price objective on shares of Root from $67.00 to $130.00 and gave the stock a “neutral” rating in a research note on Friday, March 7th. Five research 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.com, Root has a consensus rating of “Moderate Buy” and an average price target of $88.33.

Institutional Investors Weigh In On Root

Several institutional investors have recently bought and sold shares of ROOT. Russell Investments Group Ltd. lifted its position in shares of Root by 651.8% in the fourth quarter. Russell Investments Group Ltd. now owns 421 shares of the company’s stock valued at $31,000 after acquiring an additional 365 shares in the last quarter. Point72 DIFC Ltd purchased a new position in Root in the 3rd quarter valued at $33,000. KLP Kapitalforvaltning AS acquired a new stake in Root during the 4th quarter worth $94,000. Aquatic Capital Management LLC grew its holdings in shares of Root by 92.1% during the fourth quarter. Aquatic Capital Management LLC now owns 1,537 shares of the company’s stock worth $112,000 after buying an additional 737 shares in the last quarter. Finally, SBI Securities Co. Ltd. acquired a new stake in shares of Root in the fourth quarter valued at about $154,000. 59.82% of the stock is currently owned by institutional investors and hedge funds.

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.