Durable Capital Partners Lp Acquires 113,646 Shares of Goosehead Insurance (NASDAQ:GSHD) Stock

Goosehead Insurance (NASDAQ:GSHD) major shareholder Durable Capital Partners Lp bought 113,646 shares of the stock in a transaction that occurred on Friday, July 24th. The stock was bought at an average cost of $58.34 per share, for a total transaction of $6,630,107.64. Following the transaction, the insider owned 2,493,927 shares of the company’s stock, valued at $145,495,701.18. The trade was a 4.77% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own more than 10% 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 cost of $61.72 per share, with a total value of $2,473,552.44.

Goosehead Insurance Trading Up 2.8%

Shares of GSHD opened at $70.72 on Thursday. Goosehead Insurance has a 1-year low of $33.68 and a 1-year high of $93.90. The company has a market cap of $2.52 billion, a price-to-earnings ratio of 51.62, a PEG ratio of 2.48 and a beta of 1.41. The company’s fifty day simple moving average is $46.04 and its 200 day simple moving average is $48.80.

Goosehead Insurance (NASDAQ:GSHD) last posted its quarterly earnings results on Wednesday, July 22nd. The company reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.17. Goosehead Insurance had a negative return on equity of 21.00% and a net margin of 8.78%.The business had revenue of $95.63 million during the quarter, compared to analysts’ expectations of $103.30 million. During the same quarter last year, the company posted $0.49 earnings per share. Goosehead Insurance’s quarterly revenue was up 20.6% on a year-over-year basis. As a group, research analysts forecast that Goosehead Insurance will post 1.45 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have commented on GSHD. Piper Sandler upped their price objective on Goosehead Insurance from $52.00 to $72.00 and gave the company an “overweight” rating in a report on Wednesday, July 15th. 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. Citizens Jmp reduced their price objective on shares of Goosehead Insurance from $125.00 to $100.00 and set a “market outperform” rating on the stock in a research note on Monday, April 13th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $76.00 price target on shares of Goosehead Insurance in a research note on Thursday, July 23rd. Finally, Bank of America lowered their target price 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. Seven equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $68.45.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Durable Capital Partners LP grew its holdings in Goosehead Insurance by 126.5% during the 3rd quarter. Durable Capital Partners LP now owns 1,542,186 shares of the company’s stock worth $114,769,000 after acquiring an additional 861,374 shares during the period. Wasatch Advisors LP increased its position in Goosehead Insurance by 32.3% in the 1st quarter. Wasatch Advisors LP now owns 2,292,227 shares of the company’s stock valued at $97,786,000 after buying an additional 559,087 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its position in shares of Goosehead Insurance by 38.5% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,002,003 shares of the company’s stock worth $147,448,000 after purchasing an additional 556,293 shares during the period. Langdon Equity Partners bought a new position in shares of Goosehead Insurance in the fourth quarter valued at $41,892,000. Finally, Janus Henderson Group PLC lifted its position in Goosehead Insurance by 3,485.1% in the 1st quarter. Janus Henderson Group PLC now owns 386,906 shares of the company’s stock valued at $16,506,000 after acquiring an additional 376,114 shares in the last quarter.

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.