Julie Szudarek Sells 2,000 Shares of Root, Inc. (NASDAQ:ROOT) Stock

Root, Inc. (NASDAQ:ROOT) Director Julie Szudarek sold 2,000 shares of Root stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $96.33, for a total transaction of $192,660.00. Following the transaction, the director now owns 15,003 shares of the company’s stock, valued at approximately $1,445,238.99. The trade was a 11.76 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Root Stock Up 4.4 %

Shares of Root stock opened at $109.40 on Friday. Root, Inc. has a twelve month low of $7.22 and a twelve month high of $118.15. The stock has a market cap of $1.65 billion, a price-to-earnings ratio of -88.94 and a beta of 2.34. 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 company has a fifty day moving average price of $53.56 and a 200 day moving average price of $53.75.

Root (NASDAQ:ROOT) last issued its earnings results on Wednesday, October 30th. The company reported $1.35 earnings per share for the quarter, topping the consensus estimate of ($0.61) by $1.96. The company had revenue of $305.70 million during the quarter, compared to the consensus estimate of $272.77 million. Root had a negative return on equity of 9.81% and a negative net margin of 1.56%. The company’s revenue was up 165.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($3.16) earnings per share. Equities research analysts forecast that Root, Inc. will post -1.2 earnings per share for the current fiscal year.

Institutional Trading of Root

Several large investors have recently bought and sold shares of ROOT. Barclays PLC lifted its position in shares of Root by 361.6% during the third quarter. Barclays PLC now owns 14,033 shares of the company’s stock worth $529,000 after purchasing an additional 10,993 shares in the last quarter. MML Investors Services LLC acquired a new position in Root in the 3rd quarter worth $288,000. XTX Topco Ltd purchased a new position in Root in the 3rd quarter valued at about $645,000. State Street Corp grew its stake 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 acquiring an additional 444 shares in the last quarter. Finally, Point72 DIFC Ltd purchased a new stake in shares of Root during the third quarter worth about $33,000. Institutional investors and hedge funds own 59.82% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Wells Fargo & Company increased their price objective on Root from $64.00 to $78.00 and gave the company an “equal weight” rating in a research note on Friday, November 1st. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $90.00 target price (up from $82.00) on shares of Root in a research report on Tuesday, November 5th. JMP Securities reissued a “market outperform” rating and issued a $90.00 target price on shares of Root in a research report on Tuesday, October 15th. Jefferies Financial Group dropped their price target on shares of Root from $84.00 to $72.00 and set a “buy” rating for the company in a research report on Wednesday, October 9th. Finally, UBS Group boosted their price objective on shares of Root from $61.00 to $67.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. Four analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Root currently has a consensus rating of “Moderate Buy” and a consensus price target of $59.13.

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.