Brokerages Set Root, Inc. (NASDAQ:ROOT) PT at $59.38

Root, Inc. (NASDAQ:ROOT) has been given a consensus rating of “Hold” by the nine ratings firms that are presently covering the stock, MarketBeat.com reports. Six analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $59.38.

A number of analysts have issued reports on the stock. Citizens Jmp downgraded shares of Root from a “strong-buy” rating to a “hold” rating in a report on Friday, November 22nd. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $90.00 price objective (up previously from $82.00) on shares of Root in a research note on Tuesday, November 5th. Wells Fargo & Company increased their target price on Root from $78.00 to $80.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 14th. UBS Group boosted their price target on shares of Root from $61.00 to $67.00 and gave the stock a “neutral” rating in a research report on Monday, November 4th. Finally, JMP Securities cut shares of Root from an “outperform” rating to a “market perform” rating in a research note on Friday, November 22nd.

Root Stock Performance

NASDAQ:ROOT opened at $97.50 on Wednesday. Root has a 12-month low of $7.22 and a 12-month high of $118.15. The stock has a 50-day moving average price of $83.49 and a 200 day moving average price of $63.84. 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 stock has a market capitalization of $1.47 billion, a P/E ratio of -79.27 and a beta of 2.55.

Insider Buying and Selling at Root

In other Root news, Director Julie Szudarek sold 2,000 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $96.33, for a total transaction of $192,660.00. Following the transaction, the director now owns 15,003 shares in the company, valued at approximately $1,445,238.99. This represents a 11.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Meyer Malka sold 118,107 shares of Root stock in a transaction on Monday, November 11th. The shares were sold at an average price of $82.71, for a total transaction of $9,768,629.97. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 195,946 shares of company stock worth $16,120,175. 11.71% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of ROOT. State Street Corp raised its position in shares of Root by 0.3% in the third quarter. State Street Corp now owns 176,891 shares of the company’s stock valued at $6,683,000 after buying an additional 444 shares during the last quarter. Point72 DIFC Ltd acquired a new position in Root during the third quarter worth $33,000. Verition Fund Management LLC boosted its holdings in Root by 15.2% during the 3rd quarter. Verition Fund Management LLC now owns 9,788 shares of the company’s stock valued at $370,000 after acquiring an additional 1,288 shares during the period. Nordea Investment Management AB grew its holdings in shares of Root by 7.3% in the fourth quarter. Nordea Investment Management AB now owns 20,697 shares of the company’s stock valued at $1,497,000 after purchasing an additional 1,416 shares in the last quarter. Finally, MetLife Investment Management LLC increased its position in shares of Root by 129.1% during the third quarter. MetLife Investment Management LLC now owns 5,127 shares of the company’s stock worth $194,000 after acquiring an additional 2,889 shares during the period. Institutional investors and hedge funds own 59.82% of the company’s stock.

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.