Root, Inc. (NASDAQ:ROOT) Holdings Lowered by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. cut its stake in Root, Inc. (NASDAQ:ROOT) by 1.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,777 shares of the company’s stock after selling 299 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Root were worth $974,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Versor Investments LP bought a new stake in shares of Root in the 3rd quarter worth $216,000. Algert Global LLC acquired a new position in Root during the second quarter worth about $288,000. Vanguard Personalized Indexing Management LLC lifted its holdings in Root by 76.8% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 5,930 shares of the company’s stock valued at $306,000 after acquiring an additional 2,576 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of Root during the 3rd quarter valued at about $412,000. Finally, Alpha DNA Investment Management LLC grew its stake in shares of Root by 5.5% in the 2nd quarter. Alpha DNA Investment Management LLC now owns 9,306 shares of the company’s stock worth $480,000 after purchasing an additional 486 shares during the last quarter. 59.82% of the stock is currently owned by institutional investors and hedge funds.

Root Trading Up 2.0 %

NASDAQ:ROOT opened at $77.91 on Wednesday. The company has a market cap of $1.18 billion, a PE ratio of -63.34 and a beta of 2.47. 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 one year low of $7.22 and a one year high of $118.15. The firm has a 50-day moving average of $72.63 and a 200-day moving average of $57.76.

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

Insider Buying and Selling at Root

In related news, Director Julie Szudarek sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $96.33, for a total value of $192,660.00. Following the completion of the transaction, the director now directly owns 15,003 shares in the company, valued at $1,445,238.99. The trade was a 11.76 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Meyer Malka sold 50,959 shares of the stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $84.78, for a total transaction of $4,320,304.02. Following the transaction, the insider now owns 102 shares in the company, valued at approximately $8,647.56. This trade represents a 99.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 246,905 shares of company stock worth $20,440,479 over the last ninety days. Insiders own 11.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on ROOT shares. Keefe, Bruyette & Woods restated an “outperform” rating and set a $90.00 target price (up from $82.00) on shares of Root in a report on Tuesday, November 5th. Citizens Jmp cut Root from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 22nd. UBS Group boosted their price target on Root from $61.00 to $67.00 and gave the stock a “neutral” rating in a research report on Monday, November 4th. Cantor Fitzgerald upgraded shares of Root to a “strong-buy” rating in a research note on Thursday, October 3rd. Finally, Jefferies Financial Group decreased their price target on Root from $84.00 to $72.00 and set a “buy” rating on the stock in a research report on Wednesday, October 9th. Six analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $59.13.

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.