Goldman Sachs Group Inc. Has $4.60 Million Stake in Root, Inc. $ROOT

Goldman Sachs Group Inc. decreased its position in shares of Root, Inc. (NASDAQ:ROOT) by 46.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 34,470 shares of the company’s stock after selling 29,547 shares during the quarter. Goldman Sachs Group Inc. owned about 0.22% of Root worth $4,600,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Twin Tree Management LP bought a new position in Root in the first quarter valued at approximately $37,000. KBC Group NV acquired a new position in Root during the first quarter worth $48,000. Blueshift Asset Management LLC acquired a new position in Root during the first quarter worth $204,000. Kingswood Wealth Advisors LLC acquired a new position in shares of Root in the first quarter valued at $220,000. Finally, Cetera Investment Advisers acquired a new position in shares of Root in the first quarter valued at $225,000. Institutional investors own 59.82% of the company’s stock.

Insider Buying and Selling at Root

In other Root news, insider Mahtiyar Bonakdarpour sold 5,750 shares of the firm’s stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $89.74, for a total transaction of $516,005.00. Following the transaction, the insider directly owned 274,226 shares in the company, valued at approximately $24,609,041.24. This trade represents a 2.05% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Alexander E. Timm sold 10,861 shares of the firm’s stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $88.88, for a total value of $965,325.68. Following the transaction, the chief executive officer owned 157,748 shares in the company, valued at approximately $14,020,642.24. This trade represents a 6.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. 11.71% of the stock is currently owned by company insiders.

Root Price Performance

Shares of NASDAQ:ROOT opened at $98.59 on Wednesday. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.82. The stock’s fifty day simple moving average is $104.48 and its two-hundred day simple moving average is $125.25. Root, Inc. has a 1-year low of $36.87 and a 1-year high of $181.14. The stock has a market cap of $1.52 billion, a PE ratio of 19.68 and a beta of 2.24.

Root (NASDAQ:ROOT) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.23. Root had a return on equity of 38.24% and a net margin of 6.02%.The business had revenue of $382.90 million for the quarter, compared to analysts’ expectations of $348.36 million. During the same period last year, the business earned ($0.52) EPS. The business’s revenue was up 32.4% on a year-over-year basis. As a group, analysts forecast that Root, Inc. will post -0.08 EPS for the current fiscal year.

Analyst Ratings Changes

ROOT has been the topic of several research reports. Jefferies Financial Group decreased their price target on shares of Root from $172.00 to $138.00 and set a “buy” rating on the stock in a research note on Monday, August 11th. UBS Group reaffirmed a “neutral” rating and set a $105.00 price objective (down previously from $140.00) on shares of Root in a research report on Monday, August 18th. Keefe, Bruyette & Woods dropped their target price on shares of Root from $170.00 to $165.00 and set an “outperform” rating for the company in a report on Friday, August 8th. TD Cowen increased their target price on shares of Root from $51.00 to $125.00 and gave the stock a “hold” rating in a report on Tuesday, July 8th. Finally, Wells Fargo & Company upped their price objective on Root from $118.00 to $120.00 and gave the company an “equal weight” rating in a research note on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $123.83.

Root Profile

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.