Goosehead Insurance (NASDAQ:GSHD) Stock Falls 6% – Should You Sell?

Goosehead Insurance (NASDAQ:GSHD)’s share price was down 6% during mid-day trading on Tuesday. The company traded as low as $45.13 and last traded at $45.0370. Approximately 27,905 shares traded hands during trading, a decline of 94% from the average daily volume of 483,786 shares. The stock had previously closed at $47.92.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Texas Capital upgraded Goosehead Insurance from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, September 29th. Weiss Ratings cut Goosehead Insurance from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, September 18th. Deutsche Bank Aktiengesellschaft set a $80.00 target price on Goosehead Insurance in a report on Monday, October 12th. Royal Bank Of Canada lifted their target price on Goosehead Insurance from $55.00 to $58.00 and gave the stock a “sector perform” rating in a report on Thursday, July 23rd. Finally, JPMorgan Chase & Co. dropped their target price on Goosehead Insurance from $68.00 to $60.00 and set a “neutral” rating on the stock in a research report on Thursday, October 1st. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Goosehead Insurance currently has an average rating of “Hold” and a consensus target price of $64.42.

Goosehead Insurance Price Performance

The firm has a fifty day simple moving average of $54.10 and a 200 day simple moving average of $51.29. The company has a market capitalization of $1.64 billion, a price-to-earnings ratio of 33.80, a price-to-earnings-growth ratio of 1.83 and a beta of 1.46.

Insider Transactions at Goosehead Insurance

In other Goosehead Insurance news, major shareholder Adrienne Kebodeaux sold 7,000 shares of the business’s stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $70.00, for a total transaction of $490,000.00. Following the transaction, the insider owned 273,027 shares of the company’s stock, valued at approximately $19,111,890. The trade was a 2.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder & Robyn Jones Descendants Mark sold 100,000 shares of the firm’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $65.31, for a total transaction of $6,531,000.00. Following the sale, the insider owned 6,767,661 shares of the company’s stock, valued at approximately $441,995,939.91. The trade was a 1.46% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 129,481 shares of company stock valued at $8,524,304. Corporate insiders own 38.07% of the company’s stock.

Institutional Investors Weigh In On Goosehead Insurance

Institutional investors and hedge funds have recently made changes to their positions in the stock. Janus Henderson Group PLC raised its stake in shares of 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 purchasing an additional 376,114 shares in the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of Goosehead Insurance during the 2nd quarter valued at about $6,545,000. Bank of America Corp DE lifted its holdings in shares of Goosehead Insurance by 28.2% during the 1st quarter. Bank of America Corp DE now owns 329,333 shares of the company’s stock valued at $14,049,000 after buying an additional 72,527 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of Goosehead Insurance by 23.2% in the 1st quarter. Principal Financial Group Inc. now owns 219,745 shares of the company’s stock valued at $9,374,000 after buying an additional 41,334 shares in the last quarter. Finally, Corient Private Wealth LP grew its stake in shares of Goosehead Insurance by 123.7% in the 2nd quarter. Corient Private Wealth LP now owns 56,935 shares of the company’s stock valued at $2,761,000 after buying an additional 31,483 shares in the last quarter.

Goosehead Insurance Company Profile

Goosehead Insurance, Inc is an independent insurance agency that distributes personal and commercial insurance products through a network of corporate and franchise locations. The company uses technology and relationships with multiple insurance carriers to help customers compare coverage options and select policies suited to their needs.

Its offerings primarily include homeowners, automobile, renters, flood, umbrella and other personal insurance products, along with selected commercial insurance solutions.