Root, Inc. $ROOT Shares Bought by Frazier Financial Advisors LLC

Frazier Financial Advisors LLC grew its holdings in shares of Root, Inc. (NASDAQ:ROOT) by 4,976.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,929 shares of the company’s stock after acquiring an additional 1,891 shares during the period. Frazier Financial Advisors LLC’s holdings in Root were worth $247,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of ROOT. Kingswood Wealth Advisors LLC acquired a new stake in shares of Root during the first quarter valued at about $220,000. Valmark Advisers Inc. bought a new position in shares of Root during the first quarter worth about $918,000. KBC Group NV bought a new position in shares of Root during the first quarter worth about $48,000. Bank of New York Mellon Corp lifted its holdings in Root by 21.6% in the first quarter. Bank of New York Mellon Corp now owns 29,708 shares of the company’s stock worth $3,964,000 after acquiring an additional 5,270 shares during the last quarter. Finally, Penserra Capital Management LLC bought a new position in Root in the first quarter worth about $2,011,000. 59.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ROOT has been the topic of a number of research analyst reports. UBS Group reiterated a “neutral” rating and set a $105.00 price objective (down previously from $140.00) on shares of Root in a research note on Monday, August 18th. Wells Fargo & Company decreased their price target on shares of Root from $120.00 to $89.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 8th. Keefe, Bruyette & Woods decreased their price target on shares of Root from $170.00 to $165.00 and set an “outperform” rating on the stock in a research report on Friday, August 8th. TD Cowen lifted their price target on shares of Root from $51.00 to $125.00 and gave the stock a “hold” rating in a research report on Tuesday, July 8th. Finally, Jefferies Financial Group decreased their price target on shares of Root from $172.00 to $138.00 and set a “buy” rating on the stock in a research report on Monday, August 11th. Two investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $118.67.

Insider Activity

In other news, CEO Alexander E. Timm sold 10,861 shares of the business’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $88.88, for a total transaction of $965,325.68. Following the transaction, the chief executive officer owned 157,748 shares in the company, valued at approximately $14,020,642.24. The trade was a 6.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Mahtiyar Bonakdarpour sold 5,750 shares of the business’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $89.74, for a total transaction of $516,005.00. Following the transaction, the insider owned 274,226 shares in the company, valued at approximately $24,609,041.24. The trade was a 2.05% decrease in their position. The disclosure for this sale can be found here. Insiders own 11.71% of the company’s stock.

Root Stock Up 2.3%

ROOT stock opened at $83.28 on Tuesday. The firm has a market cap of $1.29 billion, a PE ratio of 16.62 and a beta of 2.22. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.82. Root, Inc. has a 1 year low of $36.87 and a 1 year high of $181.14. The company has a fifty day simple moving average of $92.64 and a 200 day simple moving average of $117.80.

Root (NASDAQ:ROOT) last released its earnings results on Wednesday, August 6th. The company reported $1.29 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.23. Root had a net margin of 6.02% and a return on equity of 38.24%. The firm had revenue of $382.90 million during the quarter, compared to analyst estimates of $348.36 million. During the same quarter in the previous year, the business earned ($0.52) EPS. The business’s revenue was up 32.4% on a year-over-year basis. Sell-side analysts anticipate that Root, Inc. will post -0.08 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.