Alpha DNA Investment Management LLC Raises Stock Holdings in Root, Inc. (NASDAQ:ROOT)

Alpha DNA Investment Management LLC increased its stake in shares of Root, Inc. (NASDAQ:ROOT) by 5.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,306 shares of the company’s stock after purchasing an additional 486 shares during the quarter. Alpha DNA Investment Management LLC owned approximately 0.06% of Root worth $480,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sequoia Financial Advisors LLC acquired a new position in Root in the first quarter valued at $293,000. Vanguard Personalized Indexing Management LLC lifted its holdings 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 acquiring an additional 2,576 shares during the period. Quantbot Technologies LP acquired a new stake in shares of Root in the first quarter worth approximately $431,000. Price T Rowe Associates Inc. MD purchased a new stake in Root in the first quarter valued at approximately $434,000. Finally, Trexquant Investment LP boosted its holdings in shares of Root by 43.4% in the 4th quarter. Trexquant Investment LP now owns 46,570 shares of the company’s stock valued at $488,000 after purchasing an additional 14,096 shares during the last quarter. 59.82% of the stock is currently owned by hedge funds and other institutional investors.

Root Trading Down 2.4 %

ROOT opened at $38.50 on Thursday. Root, Inc. has a 12-month low of $7.22 and a 12-month high of $86.57. The company has a debt-to-equity ratio of 1.98, a current ratio of 1.43 and a quick ratio of 1.43. The stock has a market capitalization of $577.50 million, a PE ratio of -4.95 and a beta of 2.54. The firm’s fifty day moving average price is $49.21 and its 200 day moving average price is $54.70.

Root (NASDAQ:ROOT) last issued its earnings results on Wednesday, August 7th. The company reported ($0.52) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.74) by $1.22. The business had revenue of $289.20 million for the quarter, compared to analyst estimates of $264.80 million. Root had a negative net margin of 9.81% and a negative return on equity of 50.80%. The company’s revenue for the quarter was up 286.6% on a year-over-year basis. During the same quarter in the prior year, the business posted ($2.55) EPS. As a group, research analysts expect that Root, Inc. will post -2.13 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently commented on ROOT shares. TD Cowen raised their price target on shares of Root from $11.00 to $51.00 and gave the company a “hold” rating in a report on Wednesday, June 5th. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $82.00 target price (down previously from $88.00) on shares of Root in a research note on Friday, August 16th. Finally, UBS Group decreased their price target on shares of Root from $71.00 to $61.00 and set a “neutral” rating for the company in a research report on Tuesday, August 13th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Root has a consensus rating of “Moderate Buy” and a consensus price target of $53.38.

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.