Goosehead Insurance (NASDAQ:GSHD) Stock Breaks Above 200 Day Moving Average – Here’s Why

Goosehead Insurance (NASDAQ:GSHD) shares passed above its two hundred day moving average during trading on Monday. The stock has a two hundred day moving average of $50.91 and traded as high as $51.60. Goosehead Insurance shares last traded at $51.35, with a volume of 312,369 shares traded.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Weiss Ratings lowered Goosehead Insurance from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday, September 18th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $76.00 price target on shares of Goosehead Insurance in a report on Thursday, July 23rd. Deutsche Bank Aktiengesellschaft set a $80.00 price objective on Goosehead Insurance in a report on Monday, October 12th. UBS Group upped their price objective on Goosehead Insurance from $70.00 to $72.00 and gave the company a “buy” rating in a report on Monday, July 27th. Finally, Texas Capital raised shares of Goosehead Insurance from a “hold” rating to a “strong-buy” rating in a report on Tuesday, September 29th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $64.42.

Goosehead Insurance Stock Up 7.9%

The company has a market capitalization of $2.00 billion, a P/E ratio of 41.13, a P/E/G ratio of 1.97 and a beta of 1.51. The company’s 50-day simple moving average is $52.06 and its 200 day simple moving average is $50.74.

Insiders Place Their Bets

In other Goosehead Insurance news, major shareholder Adrienne Kebodeaux sold 7,000 shares of Goosehead Insurance stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $70.00, for a total transaction of $490,000.00. Following the transaction, the insider owned 273,027 shares of the company’s stock, valued at $19,111,890. This trade represents a 2.50% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Durable Capital Partners Lp acquired 150,000 shares of the business’s stock in a transaction dated Tuesday, September 22nd. The stock was purchased at an average price of $47.32 per share, with a total value of $7,098,000.00. Following the completion of the transaction, the insider directly owned 2,720,260 shares of the company’s stock, valued at $128,722,703.20. This trade represents a 5.84% increase in their position. The SEC filing for this purchase provides additional information. 38.07% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Goosehead Insurance

Institutional investors have recently made changes to their positions in the company. Pinnacle Wealth Planning Services Inc. raised its position in Goosehead Insurance by 30.8% during the third quarter. Pinnacle Wealth Planning Services Inc. now owns 1,203 shares of the company’s stock worth $55,000 after acquiring an additional 283 shares during the period. Versant Capital Management Inc raised its stake in shares of Goosehead Insurance by 36.9% during the 3rd quarter. Versant Capital Management Inc now owns 1,057 shares of the company’s stock worth $48,000 after buying an additional 285 shares in the last quarter. Covestor Ltd increased its holdings in Goosehead Insurance by 112.0% during the 3rd quarter. Covestor Ltd now owns 581 shares of the company’s stock valued at $26,000 after acquiring an additional 307 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of Goosehead Insurance by 37.6% in the 3rd quarter. GAMMA Investing LLC now owns 1,200 shares of the company’s stock valued at $54,000 after purchasing an additional 328 shares during the last quarter. Finally, Keeler Thomas Management LLC grew its holdings in Goosehead Insurance by 5.9% during the 3rd quarter. Keeler Thomas Management LLC now owns 6,063 shares of the company’s stock valued at $275,000 after purchasing an additional 338 shares in the last quarter.

About Goosehead Insurance

Goosehead Insurance, Inc is an independent insurance agency that distributes personal and commercial insurance products through a network of corporate and franchise locations. The company uses technology and relationships with multiple insurance carriers to help customers compare coverage options and select policies suited to their needs.

Its offerings primarily include homeowners, automobile, renters, flood, umbrella and other personal insurance products, along with selected commercial insurance solutions.