Root Inc’s filing revealed that its 10% Owner Malka Meyer unloaded Company’s shares for reported $0.81 million on May 02 ’24. In the deal valued at $60.58 per share,13,300 shares were sold. As a result of this transaction, Malka Meyer now holds 43,107 shares worth roughly $2.68 million.
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Then, Allison Jonathan sold 4,000 shares, generating $56,700 in total proceeds. Upon selling the shares at $14.18, the Chief Administrative Officer now owns 76,766 shares.
Before that, Allison Jonathan sold 4,000 shares. Root Inc shares valued at $44,412 were divested by the Chief Administrative Officer at a price of $11.10 per share. As a result of the transaction, Allison Jonathan now holds 80,766 shares, worth roughly $5.03 million.
Jefferies upgraded its Root Inc [ROOT] rating to a Buy from a a Hold in a research note published on March 01, 2024; the price target was increased to $40 from $10. A number of analysts have revised their coverage, including Keefe Bruyette’s analysts, who increased its forecast for the stock in late February from “a Mkt perform” to “an Outperform”. Cantor Fitzgerald also remained covering ROOT and has increased its forecast on February 22, 2024 with a “an Overweight” recommendation from previously “Neutral” rating. TD Cowen started covering the stock on January 10, 2024. It rated ROOT as “a Market perform”.
Price Performance Review of ROOT
On Tuesday, Root Inc [NASDAQ:ROOT] saw its stock fall -2.45% to $62.22. Over the last five days, the stock has gained 1.93%. Root Inc shares have risen nearly 493.70% since the year began. Nevertheless, the stocks have risen 1301.35% over the past one year. While a 52-week high of $86.57 was reached on 05/01/24, a 52-week low of $4.29 was recorded on 02/09/24. SMA at 50 days reached $61.09, while 200 days put it at $24.15. A total of 0.28 million shares were traded, compared to the trading of 0.28 million shares in the previous session.
Levels Of Support And Resistance For ROOT Stock
The 24-hour chart illustrates a support level at 59.84, which if violated will result in even more drops to 57.45. On the upside, there is a resistance level at 65.10. A further resistance level may holdings at 67.97. The Relative Strength Index (RSI) on the 14-day chart is 50.64, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 1.85, which suggests price will go up in the next trading period. Percent R suggests that price movement has been low at 47.21%. Stochastics %K at 41.59% indicates the stock is a holding.
The most recent change occurred on November 19, 2021 when Jefferies began covering the stock and recommended ‘”a Hold”‘ rating along with a $5.50 price target.
