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Timm Alexander E., the Chief Executive Officer of Root, Inc. (NASDAQ:ROOT), made significant stock transactions on April 1 and April 2, according to a recent SEC filing. The CEO sold shares of the company’s Class A Common Stock, totaling approximately $1,070,814. The shares were sold at prices ranging from $124.78 to $134.01 per share. These transactions come as Root, now valued at $1.83 billion, has seen its stock surge over 208% in the past six months, according to InvestingPro data.
In addition to the sales, Timm Alexander E. was involved in other stock transactions, including the withholding of shares to satisfy tax obligations related to the vesting of restricted stock units. These transactions amounted to a total of $4,066,974, with shares withheld at a price of $128.60 each. InvestingPro analysis indicates Root maintains strong liquidity with a current ratio of 2.38, while receiving a "GOOD" overall financial health score.
Furthermore, the filing noted the exercise of performance-based restricted stock units, adding 41,979 shares to his holdings at no cost. Following these transactions, Alexander’s (NYSE:ALX) direct ownership of Root, Inc.’s stock was adjusted accordingly. Discover more insights about ROOT’s valuation and 15 additional ProTips with a subscription to InvestingPro.
In other recent news, Root, Inc. reported its fourth-quarter and full-year 2024 earnings, significantly surpassing analysts’ expectations. The company achieved an earnings per share (EPS) of $1.30, compared to the forecasted loss of $0.52, and revenue reached $326.7 million, exceeding the projected $291.34 million. Root’s net income for the quarter was $22 million, marking a $46 million improvement year-over-year. The company also wrote $1.3 billion in gross premiums and expanded its market reach to cover 76% of the U.S. population. In addition to its financial performance, Root announced a strategic partnership with Hyundai (OTC:HYMTF) Capital America aimed at innovating the auto finance and insurance sectors. This collaboration is expected to offer competitive, personalized insurance solutions to Hyundai customers. Furthermore, Root’s recent developments include a significant reduction in reinsurance costs and a commitment to disciplined underwriting practices. Analysts from firms like KBW have noted the company’s strategic focus on long-term value and growth through partnership channels.
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