Root, Inc. (NASDAQ:ROOT) Shares Sold by Two Sigma Investments LP

Two Sigma Investments LP decreased its holdings in shares of Root, Inc. (NASDAQ:ROOT) by 39.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,535 shares of the company’s stock after selling 5,512 shares during the period. Two Sigma Investments LP owned approximately 0.06% of Root worth $620,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. increased its position in Root by 651.8% during the 4th quarter. Russell Investments Group Ltd. now owns 421 shares of the company’s stock worth $31,000 after purchasing an additional 365 shares during the period. KLP Kapitalforvaltning AS acquired a new stake in shares of Root in the 4th quarter worth approximately $94,000. Aquatic Capital Management LLC grew its holdings in shares of Root by 92.1% in the 4th quarter. Aquatic Capital Management LLC now owns 1,537 shares of the company’s stock worth $112,000 after acquiring an additional 737 shares during the period. SBI Securities Co. Ltd. acquired a new stake in shares of Root in the 4th quarter worth approximately $154,000. Finally, FreeGulliver LLC acquired a new stake in shares of Root in the 4th quarter worth approximately $203,000. Institutional investors and hedge funds own 59.82% of the company’s stock.

Insider Activity at Root

In related news, Director Jerri Devard sold 1,895 shares of the stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $141.50, for a total transaction of $268,142.50. Following the transaction, the director now directly owns 18,532 shares in the company, valued at approximately $2,622,278. This represents a 9.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Beth A. Birnbaum sold 2,852 shares of the stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $138.33, for a total value of $394,517.16. Following the transaction, the director now owns 14,280 shares in the company, valued at $1,975,352.40. This trade represents a 16.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 254,742 shares of company stock valued at $34,553,788. 11.76% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

ROOT has been the topic of a number of research reports. UBS Group upped their price target on Root from $67.00 to $130.00 and gave the stock a “neutral” rating in a report on Friday, March 7th. Scotiabank restated a “sector perform” rating on shares of Root in a report on Sunday, March 2nd. Wall Street Zen upgraded Root from a “hold” rating to a “buy” rating in a report on Thursday, May 22nd. Keefe, Bruyette & Woods upped their price target on Root from $150.00 to $170.00 and gave the stock an “outperform” rating in a report on Thursday, May 8th. Finally, Wells Fargo & Company upped their price target on Root from $105.00 to $142.00 and gave the stock an “equal weight” rating in a report on Thursday, May 8th. Five equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $136.40.

Root Price Performance

ROOT stock opened at $151.73 on Monday. Root, Inc. has a 1 year low of $34.04 and a 1 year high of $181.14. 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’s 50 day moving average price is $133.54 and its 200 day moving average price is $114.90. The firm has a market cap of $2.33 billion, a P/E ratio of -123.36 and a beta of 2.31.

Root (NASDAQ:ROOT) last posted its earnings results on Wednesday, May 7th. The company reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.62. Root had a negative return on equity of 9.81% and a negative net margin of 1.56%. The firm had revenue of $349.40 million for the quarter, compared to analyst estimates of $305.24 million. During the same quarter in the prior year, the company earned ($0.42) EPS. Root’s revenue was up 37.2% on a year-over-year basis. On average, sell-side analysts expect that Root, Inc. will post -0.08 earnings per share for the current fiscal year.

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.