Root, Inc. (NASDAQ:ROOT) Shares Acquired by Fmr LLC

Fmr LLC increased its holdings in shares of Root, Inc. (NASDAQ:ROOTFree Report) by 966.2% in the third quarter, Holdings Channel reports. The firm owned 18,040 shares of the company’s stock after acquiring an additional 16,348 shares during the period. Fmr LLC’s holdings in Root were worth $682,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. Algert Global LLC purchased a new stake in shares of Root in the second quarter worth about $288,000. Versor Investments LP acquired a new position in Root during the 3rd quarter worth approximately $216,000. Vanguard Personalized Indexing Management LLC lifted its position in 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 acquiring an additional 2,576 shares in the last quarter. Alpha DNA Investment Management LLC boosted its holdings in Root by 5.5% in the 2nd quarter. Alpha DNA Investment Management LLC now owns 9,306 shares of the company’s stock worth $480,000 after acquiring an additional 486 shares during the period. Finally, Venator Management LLC acquired a new stake in Root in the second quarter valued at approximately $516,000. 59.82% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Root news, Director Julie Szudarek sold 2,000 shares of Root stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $96.33, for a total value of $192,660.00. Following the completion of the transaction, the director now directly owns 15,003 shares in the company, valued at $1,445,238.99. The trade was a 11.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Meyer Malka sold 50,959 shares of the stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $84.78, for a total value of $4,320,304.02. Following the sale, the insider now owns 102 shares in the company, valued at $8,647.56. The trade was a 99.80 % 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 worth $20,440,479 over the last ninety days. 11.71% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on ROOT shares. JMP Securities downgraded shares of Root from an “outperform” rating to a “market perform” rating in a research note on Friday, November 22nd. Cantor Fitzgerald raised shares of Root to a “strong-buy” rating in a research report on Thursday, October 3rd. UBS Group lifted their target price on Root from $61.00 to $67.00 and gave the stock a “neutral” rating in a research report on Monday, November 4th. Wells Fargo & Company increased their price target on Root from $64.00 to $78.00 and gave the company an “equal weight” rating in a report on Friday, November 1st. Finally, Citizens Jmp downgraded Root from a “strong-buy” rating to a “hold” rating in a report on Friday, November 22nd. Six research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $59.13.

Check Out Our Latest Analysis on ROOT

Root Stock Performance

Shares of ROOT stock opened at $77.91 on Wednesday. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.39 and a current ratio of 1.39. The stock has a market capitalization of $1.18 billion, a price-to-earnings ratio of -63.34 and a beta of 2.47. Root, Inc. has a one year low of $7.22 and a one year high of $118.15. The company’s 50-day simple moving average is $72.63 and its 200-day simple moving average is $57.76.

Root (NASDAQ:ROOTGet Free Report) last released its earnings results on Wednesday, October 30th. The company reported $1.35 EPS for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $272.77 million. During the same quarter last year, the business posted ($3.16) EPS. Root’s quarterly revenue was up 165.1% compared to the same quarter last year. Equities analysts anticipate that Root, Inc. will post -1.2 earnings per share for the current fiscal year.

About Root

(Free Report)

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.

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Institutional Ownership by Quarter for Root (NASDAQ:ROOT)

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