Root, Inc. (NASDAQ:ROOT) Shares Bought by Algert Global LLC

Algert Global LLC lifted its stake in shares of Root, Inc. (NASDAQ:ROOT) by 294.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 27,920 shares of the company’s stock after purchasing an additional 20,837 shares during the quarter. Algert Global LLC’s holdings in Root were worth $2,027,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in the stock. Russell Investments Group Ltd. grew its stake 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 buying an additional 365 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new stake in shares of Root in the 4th quarter worth about $94,000. Aquatic Capital Management LLC increased 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. bought a new stake in Root in the 4th quarter valued at about $154,000. Finally, FreeGulliver LLC acquired a new position in Root during the 4th quarter valued at about $203,000. Institutional investors own 59.82% of the company’s stock.

Insider Transactions at Root

In related news, major shareholder Meyer Malka sold 225,000 shares of the stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $135.81, for a total value of $30,557,250.00. Following the completion of the transaction, the insider now owns 503,800 shares in the company, valued at $68,421,078. This trade represents a 30.87 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Alexander E. Timm sold 1,144 shares of Root stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $134.01, for a total value of $153,307.44. Following the completion of the transaction, the chief executive officer now directly owns 161,625 shares in the company, valued at $21,659,366.25. This represents a 0.70 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 233,659 shares of company stock valued at $31,748,719 in the last three months. 11.71% of the stock is currently owned by corporate insiders.

Root Price Performance

Shares of NASDAQ ROOT opened at $141.49 on Friday. Root, Inc. has a twelve month low of $34.04 and a twelve month high of $181.14. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 1.65. The firm has a 50-day moving average of $137.05 and a two-hundred day moving average of $104.58. The company has a market capitalization of $2.15 billion, a price-to-earnings ratio of -115.03 and a beta of 2.40.

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

Analyst Upgrades and Downgrades

ROOT has been the topic of several analyst reports. Scotiabank restated a “sector perform” rating on shares of Root in a research note on Sunday, March 2nd. UBS Group lifted their target price on Root from $67.00 to $130.00 and gave the company a “neutral” rating in a research note on Friday, March 7th. Jefferies Financial Group raised their price target on Root from $115.00 to $150.00 and gave the company a “buy” rating in a report on Friday, April 11th. Keefe, Bruyette & Woods lifted their price objective on shares of Root from $150.00 to $170.00 and gave the company an “outperform” rating in a research note on Thursday. Finally, Wells Fargo & Company increased their target price on shares of Root from $105.00 to $142.00 and gave the company an “equal weight” rating in a research report on Thursday. Six equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Root currently has a consensus rating of “Hold” and an average target price of $122.17.

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.