Beth A. Birnbaum Sells 1,735 Shares of Root, Inc. (NASDAQ:ROOT) Stock

Root, Inc. (NASDAQ:ROOT) Director Beth A. Birnbaum sold 1,735 shares of the 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 transaction, the director now directly owns 16,013 shares in the company, valued at approximately $699,287.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Root Stock Performance

Root stock opened at $43.78 on Wednesday. The firm has a market capitalization of $652.32 million, a PE ratio of -5.63 and a beta of 2.59. Root, Inc. has a one year low of $5.70 and a one year high of $86.57. The stock’s 50 day moving average price is $58.16 and its 200 day moving average price is $35.79. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.51 and a current ratio of 1.51.

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

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. TD Cowen upped their price objective on Root from $11.00 to $51.00 and gave the stock a “hold” rating in a report on Wednesday, June 5th. Citigroup upped their price target on Root from $11.00 to $12.00 and gave the stock a “neutral” rating in a research note on Friday, February 23rd. Jefferies Financial Group raised Root from a “hold” rating to a “buy” rating and lifted their price objective for the company from $10.00 to $40.00 in a research note on Friday, March 1st. JMP Securities increased their target price on shares of Root from $15.00 to $90.00 and gave the stock a “market outperform” rating in a research report on Wednesday, May 1st. Finally, Wells Fargo & Company lifted their price target on shares of Root from $64.00 to $78.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 1st. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $41.89.

Hedge Funds Weigh In On Root

A number of institutional investors have recently added to or reduced their stakes in ROOT. Tidal Investments LLC acquired a new stake in shares of Root during the first quarter valued at about $1,997,000. Price T Rowe Associates Inc. MD purchased a new position in Root in the first quarter valued at about $434,000. Quantbot Technologies LP acquired a new stake in Root during the 1st quarter valued at approximately $431,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Root during the 1st quarter worth approximately $1,171,000. Finally, Sequoia Financial Advisors LLC acquired a new position in shares of Root in the 1st quarter valued at approximately $293,000. Institutional investors and hedge funds own 59.82% of the company’s stock.

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.