UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Trims Stock Holdings in Root, Inc. (NASDAQ:ROOT)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its holdings in shares of Root, Inc. (NASDAQ:ROOT) by 19.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,962 shares of the company’s stock after selling 1,228 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Root were worth $187,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the stock. FMR LLC boosted its position in shares of 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 acquiring an additional 16,348 shares during the period. Versor Investments LP bought a new stake in Root during the 3rd quarter worth approximately $216,000. Driehaus Capital Management LLC purchased a new stake in Root in the 2nd quarter worth approximately $9,154,000. Bank of New York Mellon Corp bought a new position in Root in the 2nd quarter valued at $1,280,000. Finally, Hood River Capital Management LLC purchased a new position in shares of Root during the 2nd quarter valued at $9,547,000. Hedge funds and other institutional investors own 59.82% of the company’s stock.

Root Trading Up 3.0 %

Shares of ROOT stock opened at $73.22 on Friday. The business has a 50-day moving average of $74.44 and a 200 day moving average of $58.12. The company has a debt-to-equity ratio of 1.65, a current ratio of 1.39 and a quick ratio of 1.39. Root, Inc. has a 1-year low of $7.22 and a 1-year high of $118.15. The stock has a market capitalization of $1.11 billion, a PE ratio of -59.53 and a beta of 2.47.

Root (NASDAQ:ROOT) last released its quarterly earnings data on Wednesday, October 30th. The company reported $1.35 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.61) by $1.96. Root had a negative return on equity of 9.81% and a negative net margin of 1.56%. The firm had revenue of $305.70 million during the quarter, compared to analyst estimates of $272.77 million. During the same quarter in the prior year, the firm posted ($3.16) earnings per share. The business’s quarterly revenue was up 165.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Root, Inc. will post -1.2 earnings per share for the current year.

Insider Buying and Selling at Root

In related news, major shareholder Meyer Malka sold 75,839 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $81.21, for a total transaction of $6,158,885.19. Following the completion of the transaction, the insider now owns 43,107 shares in the company, valued at $3,500,719.47. This represents a 63.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Julie Szudarek sold 2,000 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $96.33, for a total value of $192,660.00. Following the completion of the sale, the director now directly owns 15,003 shares of the company’s stock, valued at $1,445,238.99. The trade was a 11.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 246,905 shares of company stock valued at $20,440,479 in the last quarter. Company insiders own 11.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on ROOT shares. Jefferies Financial Group lowered their price target on Root from $84.00 to $72.00 and set a “buy” rating on the stock in a report on Wednesday, October 9th. UBS Group raised their target price on shares of Root from $61.00 to $67.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. JMP Securities lowered shares of Root from an “outperform” rating to a “market perform” rating in a research report on Friday, November 22nd. Wells Fargo & Company increased their price target on shares of Root from $64.00 to $78.00 and gave the stock an “equal weight” rating in a report on Friday, November 1st. Finally, Citizens Jmp downgraded shares of Root from a “strong-buy” rating to a “hold” rating in a report on Friday, November 22nd. Six analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Root currently has a consensus rating of “Hold” and an average price target of $59.13.

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.