Sequoia Financial Advisors LLC Invests $348,000 in Root, Inc. (NASDAQ:ROOT)

Sequoia Financial Advisors LLC acquired a new stake in Root, Inc. (NASDAQ:ROOT) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 4,800 shares of the company’s stock, valued at approximately $348,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of ROOT. Raymond James Financial Inc. purchased a new stake in shares of Root during the fourth quarter valued at $1,952,000. XTX Topco Ltd purchased a new stake in Root in the 3rd quarter valued at about $645,000. FMR LLC grew its stake in Root by 966.2% in the 3rd quarter. FMR LLC now owns 18,040 shares of the company’s stock worth $682,000 after acquiring an additional 16,348 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of Root during the third quarter worth approximately $539,000. Finally, Point72 Asset Management L.P. bought a new stake in shares of Root during the third quarter valued at approximately $428,000. Hedge funds and other institutional investors own 59.82% of the company’s stock.

Root Stock Down 1.0 %

NASDAQ:ROOT opened at $150.80 on Wednesday. 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 has a market capitalization of $2.29 billion, a P/E ratio of -122.60 and a beta of 2.48. The company’s 50-day simple moving average is $109.57 and its 200-day simple moving average is $79.35. Root, Inc. has a fifty-two week low of $34.04 and a fifty-two week high of $154.52.

Root (NASDAQ:ROOT) last released its quarterly earnings results on Wednesday, February 26th. The company reported $1.30 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.63) by $1.93. The business had revenue of $326.70 million for the quarter, compared to analyst estimates of $287.79 million. Root had a negative net margin of 1.56% and a negative return on equity of 9.81%. On average, equities analysts anticipate that Root, Inc. will post -0.08 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ROOT has been the topic of several research analyst reports. UBS Group increased their price objective on Root from $67.00 to $130.00 and gave the stock a “neutral” rating in a research note on Friday, March 7th. Scotiabank reissued a “sector perform” rating on shares of Root in a research report on Sunday, March 2nd. JMP Securities downgraded Root from an “outperform” rating to a “market perform” rating in a report on Friday, November 22nd. Citizens Jmp cut shares of Root from a “strong-buy” rating to a “hold” rating in a report on Friday, November 22nd. Finally, Wells Fargo & Company restated a “buy” rating on shares of Root in a report on Sunday, March 2nd. Five investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $88.33.

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.