Goosehead Insurance (NASDAQ:GSHD) Trading Up 6.9% on Analyst Upgrade

Goosehead Insurance, Inc (NASDAQ:GSHD)’s stock price shot up 6.9% on Thursday after Piper Sandler raised their price target on the stock from $85.00 to $88.00. Piper Sandler currently has an overweight rating on the stock. Goosehead Insurance traded as high as $69.47 and last traded at $69.45. 131,638 shares traded hands during trading, a decline of 50% from the average session volume of 264,266 shares. The stock had previously closed at $64.99.

GSHD has been the topic of several other research reports. TD Cowen began coverage on shares of Goosehead Insurance in a research note on Wednesday, January 10th. They issued an “outperform” rating and a $105.00 price objective on the stock. Truist Financial dropped their price objective on shares of Goosehead Insurance from $75.00 to $70.00 and set a “hold” rating on the stock in a report on Thursday. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Goosehead Insurance has an average rating of “Moderate Buy” and a consensus target price of $82.43.

Insider Activity at Goosehead Insurance

In related news, major shareholder & Robyn Jones Descendants Mark sold 36,337 shares of the business’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $74.92, for a total value of $2,722,368.04. Following the sale, the insider now owns 132,349 shares of the company’s stock, valued at approximately $9,915,587.08. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Goosehead Insurance news, major shareholder & Robyn Jones Descendants Mark sold 36,337 shares of the company’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $74.92, for a total transaction of $2,722,368.04. Following the sale, the insider now directly owns 132,349 shares of the company’s stock, valued at $9,915,587.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Desiree Coleman sold 8,952 shares of the business’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $80.05, for a total value of $716,607.60. The disclosure for this sale can be found here. Over the last quarter, insiders have acquired 7,582 shares of company stock valued at $561,249 and have sold 68,617 shares valued at $5,291,137. 48.35% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. PNC Financial Services Group Inc. increased its position in Goosehead Insurance by 13.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,394 shares of the company’s stock valued at $106,000 after acquiring an additional 165 shares in the last quarter. Vanguard Group Inc. boosted its position in Goosehead Insurance by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 2,369,254 shares of the company’s stock valued at $179,589,000 after buying an additional 36,676 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of Goosehead Insurance by 14.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 294,977 shares of the company’s stock worth $22,359,000 after acquiring an additional 37,805 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Goosehead Insurance by 8.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,375 shares of the company’s stock valued at $408,000 after acquiring an additional 440 shares during the last quarter. Finally, GSA Capital Partners LLP lifted its position in Goosehead Insurance by 7.2% during the 4th quarter. GSA Capital Partners LLP now owns 23,659 shares of the company’s stock valued at $1,793,000 after purchasing an additional 1,591 shares during the period.

Goosehead Insurance Stock Performance

The company has a debt-to-equity ratio of 4.02, a quick ratio of 1.82 and a current ratio of 1.82. The company has a market cap of $2.53 billion, a price-to-earnings ratio of 118.51, a PEG ratio of 4.74 and a beta of 1.29. The firm’s 50-day moving average price is $77.96 and its 200 day moving average price is $74.50.

Goosehead Insurance (NASDAQ:GSHD) last released its earnings results on Wednesday, February 21st. The company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.01). The business had revenue of $63.01 million for the quarter, compared to analyst estimates of $68.18 million. Goosehead Insurance had a negative return on equity of 392.58% and a net margin of 5.41%. On average, sell-side analysts anticipate that Goosehead Insurance, Inc will post 0.81 EPS for the current year.

About Goosehead Insurance

Goosehead Insurance, Inc operates as a holding company for Goosehead Financial, LLC that engages in the provision of personal lines insurance agency services in the United States. The company offers homeowner's, automotive, dwelling property, flood, wind, earthquake, excess liability or umbrella, motorcycle, recreational vehicle, general liability, property, and life insurance products and services.