Insider Selling: Goosehead Insurance (NASDAQ:GSHD) Major Shareholder Sells 5,000 Shares

Goosehead Insurance (NASDAQ:GSHD) major shareholder Adrienne Kebodeaux sold 5,000 shares of the stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $65.20, for a total transaction of $326,000.00. Following the completion of the sale, the insider directly owned 280,027 shares in the company, valued at $18,257,760.40. This trade represents a 1.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Goosehead Insurance Stock Performance

NASDAQ GSHD traded down $6.86 during trading on Thursday, hitting $63.86. The stock had a trading volume of 806,747 shares, compared to its average volume of 513,352. Goosehead Insurance has a one year low of $33.68 and a one year high of $93.90. The stock has a 50 day simple moving average of $46.04 and a 200 day simple moving average of $48.80. The stock has a market capitalization of $2.27 billion, a price-to-earnings ratio of 46.61, a P/E/G ratio of 2.48 and a beta of 1.41.

Goosehead Insurance (NASDAQ:GSHD) last released its earnings results on Wednesday, July 22nd. The company reported $0.64 EPS for the quarter, beating 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 firm had revenue of $95.63 million for the quarter, compared to analysts’ expectations of $103.30 million. During the same quarter in the prior year, the firm posted $0.49 earnings per share. The company’s quarterly revenue was up 20.6% on a year-over-year basis. On average, sell-side analysts predict that Goosehead Insurance will post 1.45 EPS for the current year.

Analyst Ratings Changes

Several brokerages have commented on GSHD. Bank of America cut their price objective on Goosehead Insurance from $43.00 to $37.00 and set an “underperform” rating on the stock in a research report on Tuesday, April 14th. Citizens Jmp decreased their target price on Goosehead Insurance from $125.00 to $100.00 and set a “market outperform” rating for the company in a research report on Monday, April 13th. Weiss Ratings raised shares of Goosehead Insurance from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday, July 9th. JPMorgan Chase & Co. upped their price target on shares of Goosehead Insurance from $55.00 to $60.00 and gave the stock a “neutral” rating in a report on Monday, July 13th. Finally, Keefe, Bruyette & Woods decreased their price objective on shares of Goosehead Insurance from $80.00 to $72.00 and set an “outperform” rating for the company in a report on Thursday, July 23rd. Seven analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Goosehead Insurance presently has a consensus rating of “Hold” and an average target price of $68.45.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of GSHD. Handelsbanken Fonder AB increased its stake in shares of Goosehead Insurance by 12.1% during the second quarter. Handelsbanken Fonder AB now owns 6,500 shares of the company’s stock valued at $315,000 after buying an additional 700 shares during the period. MassMutual Private Wealth & Trust FSB lifted its stake in Goosehead Insurance by 484.1% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 514 shares of the company’s stock worth $25,000 after acquiring an additional 426 shares during the period. Versant Capital Management Inc grew its holdings in Goosehead Insurance by 471.9% during the 2nd quarter. Versant Capital Management Inc now owns 772 shares of the company’s stock worth $37,000 after acquiring an additional 637 shares in the last quarter. Bank of America Corp DE grew its holdings in Goosehead Insurance by 28.2% during the 1st quarter. Bank of America Corp DE now owns 329,333 shares of the company’s stock worth $14,049,000 after acquiring an additional 72,527 shares in the last quarter. Finally, Janus Henderson Group PLC grew its holdings in Goosehead Insurance by 3,485.1% during the 1st quarter. Janus Henderson Group PLC now owns 386,906 shares of the company’s stock worth $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.