Root Inc’s recent filing unveils that its Chief Administrative Officer Allison Jonathan unloaded Company’s shares for reported $0.43 million on Nov 07 ’24. In the deal valued at $78.70 per share,5,500 shares were sold. As a result of this transaction, Allison Jonathan now holds 64,585 shares worth roughly $5.25 million.
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Then, Ribbit Capital IV, L.P. bought 201,315 shares, generating $15,867,648 in total proceeds.
Before that, Ribbit Capital IV, L.P. bought 75,839 shares. Root Inc shares valued at $5,595,401 were divested by the 10% Owner at a price of $73.78 per share.
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 Monday, Root Inc [NASDAQ:ROOT] saw its stock fall -0.77% to $81.30. Over the last five days, the stock has gained 14.57%. Root Inc shares have risen nearly 675.76% since the year began. Nevertheless, the stocks have risen 723.71% over the past one year. While a 52-week high of $118.15 was reached on 10/31/24, a 52-week low of $7.22 was recorded on 02/09/24. SMA at 50 days reached $45.10, while 200 days put it at $48.44.
Levels Of Support And Resistance For ROOT Stock
The 24-hour chart illustrates a support level at 78.25, which if violated will result in even more drops to 75.19. On the upside, there is a resistance level at 85.74. A further resistance level may holdings at 90.17. The Relative Strength Index (RSI) on the 14-day chart is 85.86, which indicates overbought technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 21.14, which suggests price will go up in the next trading period. Percent R suggests that price movement has been low at 45.83%. Stochastics %K at 53.74% indicates the stock is a holding.
How much short interest is there in Root Inc?
A steep rise in short interest was recorded in Root Inc stocks on 2024-10-15, dropping by -0.16 million shares to a total of 1.55 million shares. Yahoo Finance data shows the prior-month short interest on 2024-09-13 was 1.72 million shares. There was a decline of -10.57%, which implies that there is a negative sentiment for the stock.
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.
