Barclays PLC Buys 10,993 Shares of Root, Inc. (NASDAQ:ROOT)

Barclays PLC raised its stake in Root, Inc. (NASDAQ:ROOT) by 361.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,033 shares of the company’s stock after buying an additional 10,993 shares during the period. Barclays PLC owned about 0.09% of Root worth $529,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. Point72 DIFC Ltd purchased a new stake in shares of Root in the third quarter valued at approximately $33,000. MetLife Investment Management LLC raised its position in Root by 129.1% during the 3rd quarter. MetLife Investment Management LLC now owns 5,127 shares of the company’s stock valued at $194,000 after purchasing an additional 2,889 shares in the last quarter. Algert Global LLC purchased a new stake in shares of Root in the 2nd quarter worth $288,000. Versor Investments LP bought a new position in shares of Root during the 3rd quarter worth $216,000. Finally, Vanguard Personalized Indexing Management LLC increased its stake in shares of Root by 76.8% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 5,930 shares of the company’s stock valued at $306,000 after buying an additional 2,576 shares during the period. 59.82% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

ROOT has been the subject of a number of research reports. Wells Fargo & Company upped their price objective on shares of Root from $64.00 to $78.00 and gave the stock an “equal weight” rating in a research note on Friday, November 1st. UBS Group increased their price objective 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 downgraded shares of Root from an “outperform” rating to a “market perform” rating in a research note on Friday, November 22nd. Jefferies Financial Group lowered their target price on Root from $84.00 to $72.00 and set a “buy” rating for the company in a report on Wednesday, October 9th. Finally, Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $90.00 price target (up from $82.00) on shares of Root in a report on Tuesday, November 5th. Six analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $59.13.

Insider Transactions at Root

In other news, major shareholder Meyer Malka sold 118,107 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $82.71, for a total value of $9,768,629.97. 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 Root stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $96.33, for a total transaction of $192,660.00. Following the sale, the director now owns 15,003 shares of the company’s stock, valued at approximately $1,445,238.99. The trade was a 11.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 246,905 shares of company stock worth $20,440,479. Company insiders own 11.71% of the company’s stock.

Root Stock Up 1.2 %

Root stock opened at $73.43 on Friday. Root, Inc. has a 1-year low of $7.22 and a 1-year high of $118.15. The business has a fifty day moving average price of $80.32 and a 200-day moving average price of $59.73. The company has a debt-to-equity ratio of 1.65, a current ratio of 1.39 and a quick ratio of 1.39. The stock has a market capitalization of $1.11 billion, a price-to-earnings ratio of -59.70 and a beta of 2.47.

Root (NASDAQ:ROOT) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $1.35 earnings per share for the quarter, topping the consensus estimate of ($0.61) by $1.96. The business had revenue of $305.70 million during the quarter, compared to the consensus estimate of $272.77 million. Root had a negative return on equity of 9.81% and a negative net margin of 1.56%. The company’s quarterly revenue was up 165.1% on a year-over-year basis. During the same quarter last year, the company earned ($3.16) earnings per share. Equities research analysts forecast that Root, Inc. will post -1.2 EPS for the current fiscal year.

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.