SBI Securities Co. Ltd. Invests $154,000 in Root, Inc. (NASDAQ:ROOT)

SBI Securities Co. Ltd. purchased a new position in shares of Root, Inc. (NASDAQ:ROOT) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 2,128 shares of the company’s stock, valued at approximately $154,000.

A number of other large investors have also recently bought and sold shares of ROOT. XTX Topco Ltd purchased a new stake in Root in the third quarter valued at approximately $645,000. FMR LLC boosted its position in Root by 966.2% in the third quarter. FMR LLC now owns 18,040 shares of the company’s stock valued at $682,000 after buying an additional 16,348 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in Root in the third quarter valued at approximately $539,000. Point72 Asset Management L.P. purchased a new stake in Root in the third quarter valued at approximately $428,000. Finally, Barclays PLC boosted its position in Root by 361.6% in the third quarter. Barclays PLC now owns 14,033 shares of the company’s stock valued at $529,000 after buying an additional 10,993 shares during the last quarter. Hedge funds and other institutional investors own 59.82% of the company’s stock.

Root Trading Up 4.3 %

Root stock opened at $133.88 on Friday. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 1.65. Root, Inc. has a 12 month low of $34.04 and a 12 month high of $145.34. The stock’s 50 day simple moving average is $98.93 and its two-hundred day simple moving average is $73.57. The firm has a market cap of $2.02 billion, a PE ratio of -108.85 and a beta of 2.48.

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

Analysts Set New Price Targets

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

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.