NEW YORK (Reuters) - Automobile insurance startup Root Inc sold shares in its initial public offering (IPO) on Tuesday at $27 apiece, above its target range, to raise $724.4 million, the company said. Root, which has $200 million in debt, sold 26.8 million shares in its IPO. The company had set an initial target price range of $22-$25 per share for a sale of around 24.6 million shares.