20,827 Shares in Root, Inc. $ROOT Purchased by Quantinno Capital Management LP

Quantinno Capital Management LP acquired a new position in Root, Inc. (NASDAQ:ROOT) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 20,827 shares of the company’s stock, valued at approximately $920,000. Quantinno Capital Management LP owned 0.13% of Root as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Gilder Gagnon Howe & Co. LLC boosted its position in shares of Root by 3.0% in the 2nd quarter. Gilder Gagnon Howe & Co. LLC now owns 6,225 shares of the company’s stock worth $797,000 after purchasing an additional 181 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Root by 4.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,141 shares of the company’s stock valued at $686,000 after buying an additional 229 shares in the last quarter. Gabelli Funds LLC increased its position in Root by 10.9% during the 3rd quarter. Gabelli Funds LLC now owns 5,100 shares of the company’s stock valued at $457,000 after buying an additional 500 shares in the last quarter. Swiss National Bank raised its stake in Root by 2.4% during the fourth quarter. Swiss National Bank now owns 21,500 shares of the company’s stock valued at $1,553,000 after buying an additional 500 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its stake in Root by 511.7% during the second quarter. Russell Investments Group Ltd. now owns 734 shares of the company’s stock valued at $94,000 after buying an additional 614 shares during the last quarter. Institutional investors own 59.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Zacks Research raised Root from a “strong sell” rating to a “hold” rating in a research note on Monday, June 8th. Keefe, Bruyette & Woods lowered their price target on Root from $95.00 to $80.00 and set an “outperform” rating for the company in a research report on Thursday, August 6th. Jefferies Financial Group cut shares of Root from a “buy” rating to a “hold” rating and dropped their price target for the stock from $78.00 to $58.00 in a research note on Tuesday, August 11th. TD Cowen reissued a “hold” rating on shares of Root in a research report on Wednesday, June 17th. Finally, Weiss Ratings upgraded shares of Root from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, July 28th. One analyst has rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $62.25.

Root Stock Performance

Shares of NASDAQ:ROOT opened at $51.45 on Monday. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.02 and a quick ratio of 1.02. Root, Inc. has a 1 year low of $40.91 and a 1 year high of $104.47. The company has a market cap of $796.96 million, a P/E ratio of 14.53 and a beta of 2.89. The stock’s fifty day moving average price is $56.72 and its 200-day moving average price is $54.47.

Root (NASDAQ:ROOT) last released its quarterly earnings data on Wednesday, August 5th. The company reported $1.49 EPS for the quarter, topping the consensus estimate of $0.83 by $0.66. Root had a return on equity of 19.72% and a net margin of 3.78%.The company had revenue of $389.20 million during the quarter, compared to the consensus estimate of $395.14 million. During the same period last year, the company earned $1.29 EPS. Root’s revenue for the quarter was up 1.6% on a year-over-year basis. Sell-side analysts expect that Root, Inc. will post 3.28 earnings per share for the current year.

Root Company Profile

Root, trading on the Nasdaq under the ticker ROOT, is a Columbus, Ohio–based insurance company that leverages mobile technology and data analytics to offer personalized auto insurance policies. Founded in 2015 by Alex Timm and Dan Manges, Root set out to transform traditional underwriting by focusing on individual driving behavior rather than broad demographic factors.

The company’s core product is usage-based auto insurance, delivered through a smartphone app that monitors driving patterns such as speed, braking and phone usage behind the wheel.