Shares of Goosehead Insurance, Inc (NASDAQ:GSHD – Get Rating) fell 4.3% during the midday session on Friday following insider selling activity. The stock traded as low as $59.94 and last traded at $60.00. Around 619 shares changed hands during the midday session, a 100% drop from the average daily volume of 343,936 shares. The stock previously closed at $62.69. Specifically, major shareholder Mark E. Jr. Jones sold 1,600 shares of the company in a trade dated Thursday, July 28. The stock was sold at an average price of $60.01, for a total transaction of $96,016.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Goosehead Insurance news, major shareholder Camille Peterson sold 6,600 shares of the company in a deal that took place on Tuesday August 23. The stock was sold at an average price of $59.06, for a total value of $389,796.00. The sale was disclosed in a document filed with the SEC, which is available via this hyperlink. Additionally, major shareholder Mark E. Jr. Jones sold 1,600 shares of the company in a trade that took place on Thursday, July 28. The shares were sold at an average price of $60.01, for a total value of $96,016.00. The disclosure of this sale can be found here. Insiders sold a total of 243,598 shares of the company worth $14,568,018 in the past 90 days. 48.35% of the shares are currently held by insiders.

Changes to analyst ratings

Several equity research analysts have recently released reports on the company. William Blair downgraded Goosehead Insurance from an ‘outperforming’ rating to a ‘market performing’ rating in a Thursday, July 28 research report. Piper Sandler lowered its price target on Goosehead Insurance from $75.00 to $57.00 and set an “overweight” rating on the stock in a Tuesday, July 12 research report. Finally, JMP Securities lowered its price target on Goosehead Insurance from $130.00 to $120.00 and placed a “buy” rating on the stock in a research report on Friday, June 24. One research analyst rated the stock with a sell rating, two gave the company a hold rating and four gave the company a buy rating. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $115.33.

Goosehead insurance stock down 4.6%

The company has a 50-day moving average of $54.67 and a two-hundred-day moving average of $62.44. The company has a market capitalization of $2.23 billion, a P/E ratio of 569.96, a PEG ratio of 603.40 and a beta of 1.00.

Goosehead Insurance (NASDAQ:GSHD – Get Rating) last announced its results on Wednesday, July 27. The company reported earnings per share of $0.16 for the quarter, missing the consensus estimate of $0.17 per ($0.01). Goosehead Insurance posted a net margin of 1.36% and a negative return on equity of 3.53%. The company posted revenue of $53.00 million for the quarter, versus a consensus estimate of $50.93 million. During the same period of the previous year, the company achieved EPS of $0.07. The company’s quarterly revenue increased by 38.7% compared to the same quarter last year.

Institutional entries and exits

A number of hedge funds have recently changed their positions in the stock. Wasatch Advisors Inc. increased its holdings in Goosehead Insurance by 94.1% in the fourth quarter. Wasatch Advisors Inc. now owns 1,145,046 shares of the company valued at $148,948,000 after purchasing an additional 555,090 shares in the last quarter. DF Dent & Co. Inc. increased its holdings of Goosehead Insurance shares by 1,342.6% during the second quarter. DF Dent & Co. Inc. now owns 547,710 shares of the company worth $25,014,000 after purchasing an additional 509,744 shares in the last quarter. Capital World Investors increased its position in Goosehead Insurance shares by 335.5% during the first quarter. Capital World Investors now owns 568,000 shares of the company worth $44,628,000 after purchasing an additional 437,576 shares during the period. Capital Research Global Investors increased its position in Goosehead Insurance by 165.2% in the fourth quarter. Capital Research Global Investors now owns 306,471 shares of the company valued at $39,866,000 after purchasing an additional 190,902 shares in the last quarter. Finally, Durable Capital Partners LP increased its position in Goosehead Insurance by 24.4% in the 1st quarter. Durable Capital Partners LP now owns 932,444 shares of the company valued at $73,262,000 after purchasing an additional 182,952 shares in the last quarter.

Goosehead Insurance Company Profile

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Goosehead Insurance, Inc operates as a holding company for Goosehead Financial, LLC which provides personal lines insurance agency services in the United States. The Company operates in two segments, Corporate Channel and Franchise Channel. It offers products and services for home insurance, automobile insurance, home insurance, flood, wind, earthquake, excess or umbrella liability, motorcycle, recreational vehicle, public liability general, property and life insurance.

Further reading

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