Swiss National Bank Purchases 2,100 Shares of Root, Inc. (NASDAQ:ROOT)

Swiss National Bank increased its holdings in Root, Inc. (NASDAQ:ROOT) by 15.6% during the 4th quarter, Holdings Channel reports. The firm owned 15,600 shares of the company’s stock after buying an additional 2,100 shares during the period. Swiss National Bank’s holdings in Root were worth $1,132,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Point72 DIFC Ltd bought a new stake in shares of Root in the 3rd quarter worth approximately $33,000. SBI Securities Co. Ltd. bought a new stake in Root in the fourth quarter valued at $154,000. MetLife Investment Management LLC boosted its holdings in Root by 129.1% in the third quarter. MetLife Investment Management LLC now owns 5,127 shares of the company’s stock valued at $194,000 after acquiring an additional 2,889 shares in the last quarter. Wesbanco Bank Inc. purchased a new position in Root during the 4th quarter valued at $218,000. Finally, Franklin Resources Inc. purchased a new stake in shares of Root in the 3rd quarter worth about $249,000. Hedge funds and other institutional investors own 59.82% of the company’s stock.

Insider Transactions at Root

In other news, Director Doug Ulman sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $175.00, for a total value of $350,000.00. Following the transaction, the director now owns 6,201 shares in the company, valued at approximately $1,085,175. This represents a 24.39 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 11.71% of the company’s stock.

Wall Street Analysts Forecast Growth

ROOT has been the topic of several research analyst reports. Scotiabank reiterated a “sector perform” rating on shares of Root in a research report on Sunday, March 2nd. Wells Fargo & Company reaffirmed a “buy” rating on shares of Root in a research report on Sunday, March 2nd. Finally, UBS Group increased their target price on Root from $67.00 to $130.00 and gave the stock a “neutral” rating in a research report on Friday, March 7th. Five equities 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 company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $88.33.

Root Price Performance

Shares of ROOT opened at $136.93 on Friday. Root, Inc. has a fifty-two week low of $34.04 and a fifty-two week high of $181.14. The firm’s 50-day simple moving average is $121.42 and its two-hundred day simple moving average is $85.61. The stock has a market cap of $2.08 billion, a PE ratio of -111.33 and a beta of 2.48. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.39 and a current ratio of 1.39.

Root (NASDAQ:ROOT) last posted its quarterly 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 company had revenue of $326.70 million for 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 fiscal year.

Root Company 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.