Raymond James Financial Inc. Takes Position in Root, Inc. (NASDAQ:ROOT)

Raymond James Financial Inc. acquired a new position in Root, Inc. (NASDAQ:ROOT) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 26,894 shares of the company’s stock, valued at approximately $1,952,000. Raymond James Financial Inc. owned about 0.18% of Root at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. XTX Topco Ltd bought a new position in shares of Root in the third quarter worth about $645,000. FMR LLC increased its holdings 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. Point72 Asset Management L.P. bought a new stake in Root during the 3rd quarter worth approximately $428,000. Barclays PLC lifted its holdings in Root by 361.6% during the third quarter. Barclays PLC now owns 14,033 shares of the company’s stock valued at $529,000 after purchasing an additional 10,993 shares in the last quarter. Finally, Quantbot Technologies LP boosted its position in shares of Root by 120.0% in the third quarter. Quantbot Technologies LP now owns 14,836 shares of the company’s stock worth $561,000 after purchasing an additional 8,092 shares during the period. 59.82% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on ROOT. Scotiabank restated a “sector perform” rating on shares of Root in a research report on Sunday, March 2nd. UBS Group raised their price target on Root from $67.00 to $130.00 and gave the company a “neutral” rating in a report on Friday, March 7th. Finally, Wells Fargo & Company reaffirmed a “buy” rating on shares of Root in a research note on Sunday, March 2nd. Five research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Root has a consensus rating of “Moderate Buy” and an average target price of $88.33.

Insider Buying and Selling

In related news, Director Doug Ulman sold 2,000 shares of the stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $175.00, for a total value of $350,000.00. Following the completion of the transaction, the director now owns 6,201 shares of the company’s stock, valued at approximately $1,085,175. This trade represents a 24.39 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 11.71% of the stock is currently owned by company insiders.

Root Stock Down 2.5 %

ROOT opened at $133.44 on Tuesday. Root, Inc. has a 52 week low of $34.04 and a 52 week high of $181.14. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 1.65. The firm has a 50-day simple moving average of $122.38 and a two-hundred day simple moving average of $86.64. The company has a market capitalization of $2.03 billion, a PE ratio of -108.49 and a beta of 2.48.

Root (NASDAQ:ROOT) last released its quarterly earnings results 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 business had revenue of $326.70 million during the quarter, compared to analysts’ expectations of $287.79 million. Root had a negative return on equity of 9.81% and a negative net margin of 1.56%. Analysts forecast that Root, Inc. will post -0.08 earnings per share for the current fiscal year.

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.