Goosehead Insurance (NASDAQ:GSHD) Trading Down 5.7% Following Insider Selling

Goosehead Insurance (NASDAQ:GSHD) fell 5.7% during trading on Tuesday following insider selling activity. The company traded as low as $38.91 and last traded at $39.30. 73,499 shares were traded during mid-day trading, a decline of 84% from the average session volume of 453,926 shares. The stock had previously closed at $41.68.

Specifically, major shareholder & Robyn Jones Descendants Mark sold 45,588 shares of the company’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $40.07, for a total value of $1,826,711.16. Following the transaction, the insider directly owned 7,004,768 shares in the company, valued at $280,681,053.76. The trade was a 0.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder & Robyn Jones Descendants Mark sold 82,689 shares of the stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $41.77, for a total transaction of $3,453,919.53. Following the completion of the transaction, the insider directly owned 7,050,356 shares in the company, valued at $294,493,370.12. The trade was a 1.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In related news, major shareholder & Robyn Jones Descendants Mark sold 70,751 shares of Goosehead Insurance stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $41.36, for a total transaction of $2,926,261.36. Following the completion of the sale, the insider owned 7,133,045 shares of the company’s stock, valued at approximately $295,022,741.20. The trade was a 0.98% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Analysts Set New Price Targets

Several brokerages have issued reports on GSHD. Royal Bank Of Canada raised their price objective on shares of Goosehead Insurance from $49.00 to $52.00 and gave the stock a “sector perform” rating in a research report on Thursday, April 23rd. Truist Financial lowered their target price on Goosehead Insurance from $72.00 to $58.00 and set a “hold” rating on the stock in a research note on Wednesday, February 18th. Weiss Ratings cut Goosehead Insurance from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, April 20th. Keefe, Bruyette & Woods upped their price objective on Goosehead Insurance from $75.00 to $80.00 and gave the company an “outperform” rating in a report on Thursday, April 23rd. Finally, Cantor Fitzgerald lowered their price objective on Goosehead Insurance from $84.00 to $67.00 and set an “overweight” rating on the stock in a research report on Thursday, April 9th. Seven investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $66.73.

Goosehead Insurance Stock Down 6.5%

The company’s 50 day moving average is $42.68 and its 200 day moving average is $57.13. The firm has a market capitalization of $1.25 billion, a price-to-earnings ratio of 30.90, a P/E/G ratio of 1.38 and a beta of 1.62.

Goosehead Insurance (NASDAQ:GSHD) last released its quarterly earnings results on Thursday, April 23rd. The company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.20 by $0.17. Goosehead Insurance had a net margin of 7.94% and a negative return on equity of 20.96%. The business had revenue of $79.48 million for the quarter, compared to the consensus estimate of $105.16 million. During the same period in the prior year, the company posted $0.26 earnings per share. Goosehead Insurance’s revenue was up 23.1% compared to the same quarter last year. On average, analysts expect that Goosehead Insurance will post 1.49 EPS for the current year.

Hedge Funds Weigh In On Goosehead Insurance

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GSHD. Durable Capital Partners LP raised its holdings in Goosehead Insurance by 126.5% in the 3rd quarter. Durable Capital Partners LP now owns 1,542,186 shares of the company’s stock valued at $114,769,000 after acquiring an additional 861,374 shares in the last quarter. Wasatch Advisors LP raised its holdings in Goosehead Insurance by 32.3% in the 1st quarter. Wasatch Advisors LP now owns 2,292,227 shares of the company’s stock valued at $97,786,000 after acquiring an additional 559,087 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its stake in Goosehead Insurance by 38.5% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,002,003 shares of the company’s stock worth $147,448,000 after purchasing an additional 556,293 shares during the last quarter. Langdon Equity Partners acquired a new stake in shares of Goosehead Insurance in the 4th quarter valued at $41,892,000. Finally, Janus Henderson Group PLC boosted its holdings in shares of Goosehead Insurance by 3,485.1% in the 1st quarter. Janus Henderson Group PLC now owns 386,906 shares of the company’s stock valued at $16,506,000 after purchasing an additional 376,114 shares in the last quarter.

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.