UBS Group AG Cuts Holdings in Root, Inc. $ROOT

UBS Group AG trimmed its holdings in shares of Root, Inc. (NASDAQ:ROOT) by 39.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 137,829 shares of the company’s stock after selling 90,909 shares during the period. UBS Group AG owned approximately 0.89% of Root worth $9,955,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. State of Alaska Department of Revenue purchased a new stake in Root during the 3rd quarter valued at $50,000. Russell Investments Group Ltd. boosted its stake in Root by 511.7% during the 2nd quarter. Russell Investments Group Ltd. now owns 734 shares of the company’s stock valued at $94,000 after purchasing an additional 614 shares during the last quarter. Tower Research Capital LLC TRC boosted its stake in Root by 237.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,278 shares of the company’s stock valued at $164,000 after purchasing an additional 899 shares during the last quarter. Advisory Services Network LLC purchased a new stake in Root during the 3rd quarter valued at $144,000. Finally, State of Wyoming purchased a new stake in Root during the 2nd quarter valued at $213,000. 59.82% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have commented on the company. Weiss Ratings upgraded Root from a “sell (d+)” rating to a “hold (c)” rating in a research note on Thursday, February 26th. UBS Group set a $50.00 target price on Root and gave the company a “neutral” rating in a research note on Monday, May 11th. Zacks Research downgraded Root from a “hold” rating to a “strong sell” rating in a research note on Wednesday, May 6th. Wells Fargo & Company increased their target price on Root from $52.00 to $58.00 and gave the company an “equal weight” rating in a research note on Thursday, May 7th. Finally, Keefe, Bruyette & Woods dropped their price target on Root from $104.00 to $95.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 7th. Two research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Root presently has a consensus rating of “Hold” and a consensus price target of $93.20.

Root Stock Performance

ROOT stock opened at $55.37 on Friday. The company has a market cap of $876.51 million, a P/E ratio of 16.58 and a beta of 2.95. Root, Inc. has a 1 year low of $40.91 and a 1 year high of $162.99. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.07 and a quick ratio of 1.07. The stock’s fifty day moving average price is $49.44 and its 200-day moving average price is $64.03.

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

About Root

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.