XTX Topco Ltd Buys Shares of 17,082 Root, Inc. (NASDAQ:ROOT)

XTX Topco Ltd bought a new stake in shares of Root, Inc. (NASDAQ:ROOT) during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 17,082 shares of the company’s stock, valued at approximately $645,000.

Other large investors have also recently bought and sold shares of the company. Point72 DIFC Ltd acquired a new stake in Root during the 3rd quarter valued at $33,000. MetLife Investment Management LLC lifted its stake in shares of Root by 129.1% during the 3rd quarter. MetLife Investment Management LLC now owns 5,127 shares of the company’s stock worth $194,000 after purchasing an additional 2,889 shares during the period. Versor Investments LP purchased a new position in shares of Root during the 3rd quarter worth $216,000. Algert Global LLC purchased a new position in shares of Root during the 2nd quarter worth $288,000. Finally, Vanguard Personalized Indexing Management LLC lifted its stake in shares of Root by 76.8% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 5,930 shares of the company’s stock worth $306,000 after purchasing an additional 2,576 shares during the period. Institutional investors and hedge funds own 59.82% of the company’s stock.

Root Trading Down 6.4 %

NASDAQ:ROOT opened at $76.26 on Friday. The business’s 50-day moving average is $70.32 and its two-hundred day moving average is $57.21. 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 12 month low of $7.22 and a 12 month high of $118.15. The firm has a market capitalization of $1.15 billion, a PE ratio of -62.00 and a beta of 2.47.

Root (NASDAQ:ROOT) last released its quarterly earnings data on Wednesday, October 30th. The company reported $1.35 EPS for the quarter, beating the consensus estimate of ($0.61) by $1.96. Root had a negative return on equity of 9.81% and a negative net margin of 1.56%. The company had revenue of $305.70 million for the quarter, compared to analyst estimates of $272.77 million. During the same period last year, the company posted ($3.16) earnings per share. The firm’s revenue was up 165.1% compared to the same quarter last year. Research analysts predict that Root, Inc. will post -1.2 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Jefferies Financial Group reduced their price target on Root from $84.00 to $72.00 and set a “buy” rating on the stock in a research note on Wednesday, October 9th. UBS Group increased their price target on Root from $61.00 to $67.00 and gave the stock a “neutral” rating in a research note on Monday, November 4th. JMP Securities lowered Root from an “outperform” rating to a “market perform” rating in a research report on Friday, November 22nd. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $90.00 target price (up from $82.00) on shares of Root in a research report on Tuesday, November 5th. Finally, Cantor Fitzgerald raised Root to a “strong-buy” rating in a research report on Thursday, October 3rd. Six investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Root presently has a consensus rating of “Hold” and an average price target of $59.13.

Insider Buying and Selling at Root

In other news, major shareholder Meyer Malka sold 75,839 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $81.21, for a total transaction of $6,158,885.19. Following the completion of the sale, the insider now directly owns 43,107 shares in the company, valued at $3,500,719.47. This trade represents a 63.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Julie Szudarek sold 2,000 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $96.33, for a total value of $192,660.00. Following the sale, the director now owns 15,003 shares of the company’s stock, valued at $1,445,238.99. This represents a 11.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 246,905 shares of company stock valued at $20,440,479 over the last three months. 11.71% of the stock is owned by company insiders.

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.