Goosehead Insurance (NASDAQ:GSHD) Shares Up 4.6% – Still a Buy?

Goosehead Insurance (NASDAQ:GSHD) shares were up 4.6% during mid-day trading on Tuesday . The stock traded as high as $67.13 and last traded at $67.3350. Approximately 16,237 shares changed hands during mid-day trading, a decline of 97% from the average session volume of 501,403 shares. The stock had previously closed at $64.40.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Piper Sandler increased their price target on shares of Goosehead Insurance from $52.00 to $72.00 and gave the stock an “overweight” rating in a report on Wednesday, July 15th. UBS Group lifted their price objective on Goosehead Insurance from $70.00 to $72.00 and gave the company a “buy” rating in a report on Monday, July 27th. Royal Bank Of Canada boosted their target price on Goosehead Insurance from $55.00 to $58.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 23rd. JPMorgan Chase & Co. raised their price target on Goosehead Insurance from $55.00 to $60.00 and gave the company a “neutral” rating in a report on Monday, July 13th. Finally, Weiss Ratings upgraded Goosehead Insurance from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday, July 9th. Seven research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Goosehead Insurance has an average rating of “Hold” and an average target price of $68.45.

Goosehead Insurance Price Performance

The stock has a 50-day simple moving average of $53.27 and a 200 day simple moving average of $48.36. The company has a market capitalization of $2.39 billion, a PE ratio of 49.11, a P/E/G ratio of 2.37 and a beta of 1.38.

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

Insider Activity

In other Goosehead Insurance news, major shareholder Durable Capital Partners Lp bought 113,646 shares of the business’s stock in a transaction on Friday, July 24th. The stock was bought at an average price of $58.34 per share, for a total transaction of $6,630,107.64. Following the completion of the transaction, the insider owned 2,493,927 shares in the company, valued at approximately $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 is available through this hyperlink. Also, major shareholder & Robyn Jones Descendants Mark sold 125,000 shares of the company’s stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $69.71, for a total transaction of $8,713,750.00. Following the completion of the sale, the insider directly owned 6,870,180 shares in the company, valued at $478,920,247.80. This trade represents a 1.79% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have acquired 197,779 shares of company stock valued at $11,621,850 and have sold 468,616 shares valued at $26,163,838. Company insiders own 38.07% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of GSHD. Bank of New York Mellon Corp purchased a new position in Goosehead Insurance during the second quarter worth $6,545,000. Handelsbanken Fonder AB lifted its position in shares of Goosehead Insurance by 12.1% in the second quarter. Handelsbanken Fonder AB now owns 6,500 shares of the company’s stock valued at $315,000 after acquiring an additional 700 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its position in shares of Goosehead Insurance by 484.1% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 514 shares of the company’s stock valued at $25,000 after acquiring an additional 426 shares in the last quarter. Versant Capital Management Inc boosted its stake in shares of Goosehead Insurance by 471.9% during the second quarter. Versant Capital Management Inc now owns 772 shares of the company’s stock valued at $37,000 after acquiring an additional 637 shares during the last quarter. Finally, Bank of America Corp DE boosted its stake in shares of Goosehead Insurance by 28.2% during the first quarter. Bank of America Corp DE now owns 329,333 shares of the company’s stock valued at $14,049,000 after acquiring an additional 72,527 shares during 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.