Goosehead Insurance (NASDAQ:GSHD) Trading Down 6% – Here’s What Happened

Goosehead Insurance (NASDAQ:GSHD)’s stock price was down 6% during trading on Tuesday . The company traded as low as $65.32 and last traded at $64.1750. Approximately 109,197 shares changed hands during trading, a decline of 50% from the average daily volume of 216,534 shares. The stock had previously closed at $68.28.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on GSHD shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Goosehead Insurance in a report on Friday, October 31st. Zacks Research upgraded Goosehead Insurance from a “strong sell” rating to a “hold” rating in a report on Monday, November 10th. JMP Securities lowered their price target on shares of Goosehead Insurance from $150.00 to $140.00 and set a “market outperform” rating on the stock in a research report on Tuesday, October 14th. Truist Financial dropped their price objective on shares of Goosehead Insurance from $85.00 to $72.00 and set a “hold” rating for the company in a research note on Thursday, October 23rd. Finally, Piper Sandler decreased their target price on shares of Goosehead Insurance from $79.00 to $69.00 and set a “neutral” rating on the stock in a research note on Thursday, October 23rd. Six investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Goosehead Insurance currently has a consensus rating of “Hold” and an average target price of $90.30.

Goosehead Insurance Stock Up 0.2%

The stock’s 50-day simple moving average is $72.58 and its 200 day simple moving average is $77.09. The company has a market cap of $2.31 billion, a price-to-earnings ratio of 55.50, a PEG ratio of 7.92 and a beta of 1.53.

Insider Activity at Goosehead Insurance

In other Goosehead Insurance news, General Counsel John Terry O’connor bought 2,100 shares of the firm’s stock in a transaction that occurred on Wednesday, November 26th. The stock was purchased at an average price of $71.81 per share, for a total transaction of $150,801.00. Following the completion of the purchase, the general counsel directly owned 3,100 shares in the company, valued at $222,611. This trade represents a 210.00% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Mark Miller acquired 5,000 shares of the company’s stock in a transaction on Friday, November 28th. The shares were purchased at an average cost of $72.34 per share, for a total transaction of $361,700.00. Following the acquisition, the chief executive officer 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 corporate insiders.

Institutional Investors Weigh In On Goosehead Insurance

Several institutional investors have recently modified their holdings of GSHD. Durable Capital Partners LP grew its holdings 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 valued at $114,769,000 after purchasing an additional 861,374 shares during the period. Whitebark Investors LP purchased a new stake in Goosehead Insurance during the 3rd quarter worth approximately $25,229,000. Jacobs Levy Equity Management Inc. bought a new position in Goosehead Insurance during the 3rd quarter worth approximately $25,222,000. Balyasny Asset Management L.P. grew its position in shares of Goosehead Insurance by 118.7% during the 2nd quarter. Balyasny Asset Management L.P. now owns 556,760 shares of the company’s stock valued at $58,744,000 after buying an additional 302,130 shares during the last quarter. Finally, Wasatch Advisors LP increased its position in Goosehead Insurance by 12.6% in the second quarter. Wasatch Advisors LP now owns 2,275,369 shares of the company’s stock worth $240,074,000 after buying an additional 253,777 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.