Root, Inc. $ROOT is Findell Capital Management LLC’s 3rd Largest Position

Findell Capital Management LLC lifted its holdings in Root, Inc. (NASDAQ:ROOT) by 291.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 235,000 shares of the company’s stock after purchasing an additional 175,000 shares during the period. Root comprises about 4.9% of Findell Capital Management LLC’s portfolio, making the stock its 3rd largest holding. Findell Capital Management LLC’s holdings in Root were worth $16,974,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. increased its stake in shares of Root by 25.9% in the 3rd quarter. Vanguard Group Inc. now owns 724,541 shares of the company’s stock valued at $64,854,000 after purchasing an additional 149,064 shares in the last quarter. Capital Research Global Investors increased its stake in shares of Root by 31.7% in the 4th quarter. Capital Research Global Investors now owns 654,252 shares of the company’s stock valued at $47,257,000 after purchasing an additional 157,654 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Root by 4.1% in the 4th quarter. Geode Capital Management LLC now owns 310,967 shares of the company’s stock valued at $22,466,000 after purchasing an additional 12,238 shares in the last quarter. State Street Corp increased its stake in shares of Root by 5.0% in the 4th quarter. State Street Corp now owns 258,168 shares of the company’s stock valued at $18,647,000 after purchasing an additional 12,321 shares in the last quarter. Finally, UBS Group AG increased its stake in shares of Root by 372.1% in the 3rd quarter. UBS Group AG now owns 228,738 shares of the company’s stock valued at $20,474,000 after purchasing an additional 180,289 shares in the last quarter. Hedge funds and other institutional investors own 59.82% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. TD Cowen restated a “hold” rating on shares of Root in a research note on Wednesday. Wells Fargo & Company boosted their price objective on Root from $52.00 to $58.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 7th. Zacks Research upgraded Root from a “strong sell” rating to a “hold” rating in a research note on Monday, June 8th. UBS Group set a $50.00 price objective on Root and gave the stock a “neutral” rating in a research note on Monday, May 11th. Finally, Keefe, Bruyette & Woods cut their price objective on Root from $104.00 to $95.00 and set an “outperform” rating for the company in a research note on Tuesday, April 7th. Two analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $93.20.

Root Price Performance

NASDAQ:ROOT opened at $48.50 on Thursday. Root, Inc. has a 12 month low of $40.91 and a 12 month high of $141.00. The stock has a 50 day moving average of $53.92 and a two-hundred day moving average of $59.81. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.61. The firm has a market cap of $767.76 million, a P/E ratio of 14.52 and a beta of 2.87.

Root (NASDAQ:ROOT) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $2.09 EPS for the quarter, topping the consensus estimate of $0.84 by $1.25. Root had a return on equity of 19.97% and a net margin of 3.58%.The company had revenue of $393.50 million during the quarter, compared to analyst estimates of $398.16 million. During the same period in the previous year, the business earned $1.07 EPS. Root’s quarterly revenue was up 12.5% on a year-over-year basis. On average, analysts expect that Root, Inc. will post 2.15 earnings per share for the current fiscal year.

Root 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.