2,800 Shares in Root, Inc. (NASDAQ:ROOT) Purchased by FreeGulliver LLC

FreeGulliver LLC acquired a new position in Root, Inc. (NASDAQ:ROOT) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 2,800 shares of the company’s stock, valued at approximately $203,000.

Several other large investors also recently added to or reduced their stakes in the company. State Street Corp increased its holdings in Root by 0.3% in the 3rd quarter. State Street Corp now owns 176,891 shares of the company’s stock worth $6,683,000 after acquiring an additional 444 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Root by 163.2% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 127,923 shares of the company’s stock worth $9,286,000 after acquiring an additional 79,317 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Root in the 4th quarter worth about $1,952,000. Bank of New York Mellon Corp grew its holdings in Root by 36.0% during the 4th quarter. Bank of New York Mellon Corp now owns 24,438 shares of the company’s stock valued at $1,774,000 after buying an additional 6,465 shares in the last quarter. Finally, Nordea Investment Management AB grew its holdings in Root by 7.3% during the 4th quarter. Nordea Investment Management AB now owns 20,697 shares of the company’s stock valued at $1,497,000 after buying an additional 1,416 shares in the last quarter. Hedge funds and other institutional investors own 59.82% of the company’s stock.

Root Stock Performance

Root stock opened at $150.80 on Wednesday. The firm’s fifty day moving average price is $109.57 and its 200-day moving average price is $79.35. 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 cap of $2.29 billion, a P/E ratio of -122.60 and a beta of 2.48. Root, Inc. has a fifty-two week low of $34.04 and a fifty-two week high of $154.52.

Root (NASDAQ:ROOT) last posted its quarterly earnings data on Wednesday, February 26th. The company reported $1.30 earnings per share for the quarter, beating the consensus estimate of ($0.63) by $1.93. The firm had revenue of $326.70 million for the quarter, compared to analysts’ expectations 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 research analysts expect that Root, Inc. will post -0.08 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on ROOT shares. UBS Group lifted their target price on Root from $67.00 to $130.00 and gave the company a “neutral” rating in a report on Friday, March 7th. Citizens Jmp lowered Root from a “strong-buy” rating to a “hold” rating in a report on Friday, November 22nd. Wells Fargo & Company reaffirmed a “buy” rating on shares of Root in a report on Sunday, March 2nd. Scotiabank reaffirmed a “sector perform” rating on shares of Root in a report on Sunday, March 2nd. Finally, JMP Securities lowered Root from an “outperform” rating to a “market perform” rating in a report on Friday, November 22nd. Five analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Root presently has a consensus rating of “Moderate Buy” and a consensus 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.