Goosehead Insurance (NASDAQ:GSHD) Trading Down 7.2% – Time to Sell?

Goosehead Insurance (NASDAQ:GSHD)’s stock price was down 7.2% during trading on Monday . The stock traded as low as $62.20 and last traded at $61.4310. Approximately 210,117 shares were traded during mid-day trading, a decline of 17% from the average daily volume of 253,833 shares. The stock had previously closed at $66.17.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on GSHD shares. Citigroup reaffirmed a “market outperform” rating on shares of Goosehead Insurance in a research note on Friday, January 16th. Piper Sandler lowered their price target on shares of Goosehead Insurance from $79.00 to $69.00 and set a “neutral” rating for the company in a research report on Thursday, October 23rd. Wall Street Zen upgraded shares of Goosehead Insurance from a “sell” rating to a “hold” rating in a report on Saturday. BMO Capital Markets decreased their target price on shares of Goosehead Insurance from $110.00 to $79.00 and set a “market perform” rating for the company in a research note on Tuesday, November 25th. Finally, Keefe, Bruyette & Woods dropped their price target on Goosehead Insurance from $102.00 to $95.00 and set an “outperform” rating on the stock in a research report on Thursday, October 23rd. Six research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $90.30.

Goosehead Insurance Stock Performance

The firm has a market cap of $2.12 billion, a P/E ratio of 50.84, a price-to-earnings-growth ratio of 8.37 and a beta of 1.54. The stock has a fifty day simple moving average of $71.58 and a 200 day simple moving average of $75.18.

Insiders Place Their Bets

In related news, Director Thomas Mcconnon sold 69,686 shares of the company’s stock in a transaction on Monday, December 1st. The stock was sold at an average price of $73.62, for a total transaction of $5,130,283.32. Following the completion of the sale, the director owned 269,322 shares in the company, valued at approximately $19,827,485.64. This represents a 20.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Mark Miller bought 5,000 shares of the company’s stock in a transaction on Friday, November 28th. The stock was purchased at an average cost of $72.34 per share, for a total transaction of $361,700.00. Following the completion of the transaction, the chief executive officer directly owned 35,000 shares of the company’s stock, valued at approximately $2,531,900. The trade was a 16.67% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 48.35% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Wasatch Advisors LP increased its stake in shares of Goosehead Insurance by 12.6% in the 2nd quarter. Wasatch Advisors LP now owns 2,275,369 shares of the company’s stock worth $240,074,000 after purchasing an additional 253,777 shares in the last quarter. Durable Capital Partners LP increased its position in Goosehead Insurance by 126.5% in the third quarter. Durable Capital Partners LP now owns 1,542,186 shares of the company’s stock worth $114,769,000 after buying an additional 861,374 shares in the last quarter. State Street Corp raised its stake in shares of Goosehead Insurance by 1.4% in the second quarter. State Street Corp now owns 1,027,500 shares of the company’s stock worth $108,412,000 after buying an additional 14,311 shares during the period. DF Dent & Co. Inc. lifted its position in shares of Goosehead Insurance by 2.0% during the 3rd quarter. DF Dent & Co. Inc. now owns 1,012,414 shares of the company’s stock valued at $75,344,000 after buying an additional 20,085 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Goosehead Insurance by 25.4% during the 2nd quarter. Geode Capital Management LLC now owns 705,284 shares of the company’s stock valued at $74,422,000 after acquiring an additional 143,038 shares during the period.

Goosehead Insurance Company Profile

Goosehead Insurance (NASDAQ: GSHD) is a technology-driven insurance agency that connects consumers with a broad range of personal and commercial insurance products through an extensive network of independent insurance advisors. The company specializes in homeowners, auto, flood, dwelling fire, umbrella, life, and commercial lines coverage, working with multiple national and regional carriers to offer tailored policies. By combining advanced quoting tools with local market expertise, Goosehead streamlines the insurance shopping process and helps clients find competitive coverage options.

Founded in 2003 and headquartered in Westlake, Texas, Goosehead has grown its footprint across more than 40 states in the U.S.