Goosehead Insurance (NASDAQ:GSHD) Major Shareholder Acquires $2,244,971.52 in Stock

Goosehead Insurance (NASDAQ:GSHD) major shareholder Durable Capital Partners Lp acquired 36,256 shares of the business’s stock in a transaction dated Friday, July 31st. The shares were acquired at an average cost of $61.92 per share, with a total value of $2,244,971.52. Following the transaction, the insider owned 2,570,260 shares in the company, valued at approximately $159,150,499.20. This trade represents a 1.43% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Durable Capital Partners Lp also recently made the following trade(s):

• On Monday, July 27th, Durable Capital Partners Lp acquired 40,077 shares of Goosehead Insurance stock. The stock was bought at an average price of $61.72 per share, with a total value of $2,473,552.44.
• On Friday, July 24th, Durable Capital Partners Lp bought 113,646 shares of Goosehead Insurance stock. The stock was bought at an average cost of $58.34 per share, for a total transaction of $6,630,107.64.

Goosehead Insurance Stock Performance

NASDAQ GSHD opened at $66.66 on Friday. The company has a market capitalization of $2.37 billion, a PE ratio of 48.66, a price-to-earnings-growth ratio of 2.40 and a beta of 1.38. The business’s fifty day moving average is $49.14 and its 200 day moving average is $48.50. Goosehead Insurance has a fifty-two week low of $33.68 and a fifty-two week high of $90.79.

Goosehead Insurance (NASDAQ:GSHD) last announced its quarterly earnings data on Wednesday, July 22nd. The company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.17. The company had revenue of $95.63 million during the quarter, compared to the consensus estimate of $103.30 million. Goosehead Insurance had a negative return on equity of 21.00% and a net margin of 8.78%.The firm’s revenue was up 20.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.49 EPS. On average, sell-side analysts forecast that Goosehead Insurance will post 1.45 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on GSHD shares. Piper Sandler raised their price target on Goosehead Insurance from $52.00 to $72.00 and gave the company an “overweight” rating in a report on Wednesday, July 15th. Weiss Ratings raised Goosehead Insurance from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday, July 9th. Bank of America dropped their price objective on Goosehead Insurance from $43.00 to $37.00 and set an “underperform” rating for the company in a research note on Tuesday, April 14th. Keefe, Bruyette & Woods cut their target price on Goosehead Insurance from $80.00 to $72.00 and set an “outperform” rating for the company in a research report on Thursday, July 23rd. Finally, UBS Group lifted their target price on Goosehead Insurance from $70.00 to $72.00 and gave the company a “buy” rating in a research note on Monday, July 27th. Seven research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Goosehead Insurance currently has a consensus rating of “Hold” and a consensus target price of $68.45.

Institutional Investors Weigh In On Goosehead Insurance

Hedge funds have recently bought and sold shares of the business. Phocas Financial Corp. bought a new position in shares of Goosehead Insurance in the 4th quarter valued at about $3,669,000. M&T Bank Corp lifted its stake in shares of Goosehead Insurance by 1,075.4% in the 4th quarter. M&T Bank Corp now owns 115,834 shares of the company’s stock valued at $8,531,000 after purchasing an additional 105,979 shares during the last quarter. Langdon Equity Partners bought a new position in shares of Goosehead Insurance during the 4th quarter valued at approximately $41,892,000. UBS Group AG increased its position in shares of Goosehead Insurance by 26.7% during the 4th quarter. UBS Group AG now owns 156,019 shares of the company’s stock valued at $11,491,000 after purchasing an additional 32,920 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its holdings in Goosehead Insurance by 43,893.9% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 65,111 shares of the company’s stock valued at $4,795,000 after buying an additional 64,963 shares during the period.

About Goosehead Insurance

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.