Root Inc. [ROOT] Stock trading around $9.12 per share: What’s Next?

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Root Inc. [NASDAQ: ROOT] stock went on an upward path that rose over 2.36% on Friday, amounting to a one-week price decrease of less than -0.22%. The company report on May 26, 2021 that Root, Inc. Announces Innovation Partnership with Safekeep, Inc.

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Root, Inc., the parent company of Root Insurance Company, has engaged the innovative insurtech company focused on leveraging AI in claims.

Root, Inc. (NASDAQ: ROOT), the parent company of Root Insurance Company, has announced that it has engaged Safekeep, an award-winning insurtech that uses AI to maximize net recovery through its Claimflo product.

The average equity rating for ROOT stock is currently 2.70, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $2.25 billion, with 247.10 million shares outstanding and 53.27 million shares in the current float. Compared to the average trading volume of 3.53M shares, ROOT stock reached a trading volume of 6022929 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Root Inc. [ROOT]:

Cantor Fitzgerald have made an estimate for Root Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on May 04, 2021. While these analysts kept the previous recommendation, Credit Suisse raised their target price to Neutral. The new note on the price target was released on April 28, 2021, representing the official price target for Root Inc. stock. Previously, the target price had yet another raise to $9, while BofA Securities analysts kept a Underperform rating on ROOT stock.

The Average True Range (ATR) for Root Inc. is set at 0.71, with the Price to Sales ratio for ROOT stock in the period of the last 12 months amounting to 6.50. The Price to Book ratio for the last quarter was 2.41, with the Price to Cash per share for the same quarter was set at 4.48.

ROOT Stock Performance Analysis:

Root Inc. [ROOT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.22. With this latest performance, ROOT shares dropped by -15.94% in over the last four-week period, additionally sinking by -46.38% over the last 6 months.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ROOT stock in for the last two-week period is set at 41.40, with the RSI for the last a single of trading hit 45.50, and the three-weeks RSI is set at 39.60 for Root Inc. [ROOT]. The present Moving Average for the last 50 days of trading for this stock 10.75, while it was recorded at 8.81 for the last single week of trading.

Insight into Root Inc. Fundamentals:

ROOT Stock EPS

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for ROOT. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Root Inc. go to 36.50%.

Root Inc. [ROOT] Insider Position Details

There are presently around $459 million, or 58.30% of ROOT stock, in the hands of institutional investors. The top three institutional holders of ROOT stocks are: DRAGONEER INVESTMENT GROUP, LLC with ownership of 9,259,259, which is approximately 0% of the company’s market cap and around 1.30% of the total institutional ownership; SILVER LAKE GROUP, L.L.C., holding 9,259,259 shares of the stock with an approximate value of $84.44 million in ROOT stocks shares; and COATUE MANAGEMENT LLC, currently with $41.48 million in ROOT stock with ownership of nearly 0% of the company’s market capitalization.

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46 institutional holders increased their position in Root Inc. [NASDAQ:ROOT] by around 10,565,185 shares. Additionally, 42 investors decreased positions by around 10,442,444 shares, while 13 investors held positions by with 29,333,058 shares. The mentioned changes placed institutional holdings at 50,340,687 shares, according to the latest SEC report filing. ROOT stock had 24 new institutional investments in for a total of 8,511,515 shares, while 28 institutional investors sold positions of 6,773,360 shares during the same period.

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