Goosehead Insurance (NASDAQ:GSHD) Shares Gap Down After Insider Selling

Goosehead Insurance (NASDAQ:GSHD)’s share price gapped down prior to trading on Friday after an insider sold shares in the company. The stock had previously closed at $47.22, but opened at $44.87. Goosehead Insurance shares last traded at $45.01, with a volume of 10,660 shares trading hands.

Specifically, major shareholder & Robyn Jones Descendants Mark sold 5,307 shares of Goosehead Insurance stock in a transaction on Wednesday, April 29th. The shares were sold at an average price of $48.07, for a total transaction of $255,107.49. Following the completion of the sale, the insider directly owned 7,214,193 shares of the company’s stock, valued at approximately $346,786,257.51. The trade was a 0.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on GSHD shares. Keefe, Bruyette & Woods lifted their price objective on shares of Goosehead Insurance from $75.00 to $80.00 and gave the stock an “outperform” rating in a research report on Thursday, April 23rd. UBS Group lifted their price objective on shares of Goosehead Insurance from $81.00 to $85.00 and gave the stock a “buy” rating in a research report on Monday. Weiss Ratings cut shares of Goosehead Insurance from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, April 20th. Royal Bank Of Canada lifted 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. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Goosehead Insurance from $68.00 to $58.00 and set a “neutral” rating for the company in a research report on Thursday, April 9th. Seven research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $67.73.

Goosehead Insurance Trading Down 4.3%

The company’s 50 day moving average is $45.57 and its 200 day moving average is $60.65. The stock has a market capitalization of $1.65 billion, a price-to-earnings ratio of 39.38, a price-to-earnings-growth ratio of 1.73 and a beta of 1.69.

Goosehead Insurance (NASDAQ:GSHD) last announced its quarterly earnings results on Thursday, April 23rd. The company reported $0.37 EPS for the quarter, topping 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 firm had revenue of $79.48 million for the quarter, compared to analyst estimates of $105.16 million. During the same period last year, the business earned $0.26 EPS. Goosehead Insurance’s revenue for the quarter was up 23.1% compared to the same quarter last year. Analysts anticipate that Goosehead Insurance will post 1.4 EPS for the current fiscal year.

Institutional Investors Weigh In On Goosehead Insurance

Several hedge funds and other institutional investors have recently bought and sold shares of GSHD. AQR Capital Management LLC raised its stake in Goosehead Insurance by 85.7% during the 1st quarter. AQR Capital Management LLC now owns 4,332 shares of the company’s stock worth $511,000 after acquiring an additional 1,999 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Goosehead Insurance by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,369 shares of the company’s stock valued at $1,578,000 after purchasing an additional 578 shares during the period. Goldman Sachs Group Inc. increased its stake in Goosehead Insurance by 86.6% in the first quarter. Goldman Sachs Group Inc. now owns 354,775 shares of the company’s stock valued at $41,885,000 after purchasing an additional 164,693 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Goosehead Insurance by 5.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 58,395 shares of the company’s stock valued at $6,894,000 after purchasing an additional 3,218 shares during the period. Finally, Intech Investment Management LLC increased its stake in Goosehead Insurance by 28.2% in the first quarter. Intech Investment Management LLC now owns 11,179 shares of the company’s stock valued at $1,320,000 after purchasing an additional 2,461 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.