Goosehead Insurance (NASDAQ:GSHD) Stock Price Down 5.4% – Time to Sell?

Shares of Goosehead Insurance (NASDAQ:GSHD) fell 5.4% during trading on Tuesday . The company traded as low as $54.33 and last traded at $54.1570. Approximately 95,223 shares were traded during trading, a decline of 81% from the average session volume of 495,282 shares. The stock had previously closed at $57.23.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on GSHD. JPMorgan Chase & Co. increased their price objective on shares of Goosehead Insurance from $55.00 to $60.00 and gave the company a “neutral” rating in a report on Monday, July 13th. Cantor Fitzgerald boosted their target price on Goosehead Insurance from $67.00 to $76.00 and gave the stock an “overweight” rating in a report on Thursday, July 9th. UBS Group upped their target price on Goosehead Insurance from $67.00 to $70.00 and gave the stock a “buy” rating in a research report on Wednesday, July 8th. Piper Sandler increased their price target on Goosehead Insurance from $52.00 to $72.00 and gave the company an “overweight” rating in a research note on Wednesday, July 15th. Finally, Bank of America decreased their price target 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 issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Goosehead Insurance presently has an average rating of “Hold” and a consensus target price of $68.73.

Goosehead Insurance Stock Performance

The company has a market capitalization of $1.95 billion, a price-to-earnings ratio of 47.97, a P/E/G ratio of 1.92 and a beta of 1.41. The stock’s fifty day simple moving average is $43.16 and its two-hundred day simple moving average is $49.45.

Goosehead Insurance (NASDAQ:GSHD) last announced its quarterly earnings data on Thursday, April 23rd. The company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.17. Goosehead Insurance had a net margin of 7.94% and a negative return on equity of 20.96%. The company had revenue of $79.48 million for the quarter, compared to analysts’ expectations of $105.16 million. During the same quarter in the previous year, the company posted $0.26 EPS. The business’s revenue was up 23.1% compared to the same quarter last year. On average, equities analysts anticipate that Goosehead Insurance will post 1.45 EPS for the current fiscal year.

Insider Buying and Selling at Goosehead Insurance

In other Goosehead Insurance news, major shareholder Patrick Ryan Langston purchased 2,800 shares of the firm’s stock in a transaction on Friday, May 29th. The shares were purchased at an average price of $35.56 per share, for a total transaction of $99,568.00. Following the completion of the transaction, the insider owned 7,800 shares in the company, valued at $277,368. This represents a 56.00% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO John Arthur Martin purchased 5,000 shares of the company’s stock in a transaction on Thursday, May 28th. The stock was bought at an average cost of $34.73 per share, for a total transaction of $173,650.00. Following the acquisition, the chief financial officer directly owned 5,000 shares of the company’s stock, valued at $173,650. This represents a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders have bought 12,800 shares of company stock valued at $480,718 and have sold 219,192 shares valued at $9,092,267. Corporate insiders own 38.07% of the company’s stock.

Institutional Investors Weigh In On Goosehead Insurance

Hedge funds have recently modified their holdings of the stock. Handelsbanken Fonder AB boosted its position in shares of Goosehead Insurance by 12.1% in the 2nd quarter. Handelsbanken Fonder AB now owns 6,500 shares of the company’s stock valued at $315,000 after purchasing an additional 700 shares during the period. MassMutual Private Wealth & Trust FSB raised its holdings in Goosehead Insurance by 484.1% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 514 shares of the company’s stock worth $25,000 after buying an additional 426 shares during the period. Versant Capital Management Inc lifted its stake in 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 buying an additional 637 shares in the last quarter. Bank of America Corp DE lifted its stake in 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 buying an additional 72,527 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its holdings in shares of Goosehead Insurance by 3,485.1% in the first quarter. Janus Henderson Group PLC now owns 386,906 shares of the company’s stock worth $16,506,000 after buying an additional 376,114 shares during the period.

About Goosehead Insurance

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.