Insider Buying: Goosehead Insurance (NASDAQ:GSHD) Major Shareholder Acquires 40,077 Shares

Goosehead Insurance (NASDAQ:GSHD) major shareholder Durable Capital Partners Lp bought 40,077 shares of the firm’s stock in a transaction on Monday, July 27th. The shares were bought at an average cost of $61.72 per share, for a total transaction of $2,473,552.44. Following the purchase, the insider owned 2,534,004 shares of the company’s stock, valued at approximately $156,398,726.88. The trade was a 1.61% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Durable Capital Partners Lp also recently made the following trade(s):

• On Friday, July 24th, Durable Capital Partners Lp purchased 113,646 shares of Goosehead Insurance stock. The shares were bought at an average price of $58.34 per share, with a total value of $6,630,107.64.

Goosehead Insurance Stock Performance

Shares of GSHD traded up $6.82 during trading hours on Tuesday, reaching $68.82. The stock had a trading volume of 977,500 shares, compared to its average volume of 508,819. Goosehead Insurance has a 12 month low of $33.68 and a 12 month high of $93.90. The stock has a market capitalization of $2.45 billion, a PE ratio of 50.23, a PEG ratio of 2.10 and a beta of 1.41. The company’s 50-day moving average is $44.91 and its two-hundred day moving average is $48.86.

Goosehead Insurance (NASDAQ:GSHD) last issued its quarterly earnings data on Wednesday, July 22nd. The company reported $0.64 earnings per share for the quarter, topping 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 business had revenue of $95.63 million for the quarter, compared to analyst estimates of $103.30 million. During the same quarter in the previous year, the company posted $0.49 EPS. Goosehead Insurance’s quarterly revenue was up 20.6% compared to the same quarter last year. Equities analysts anticipate that Goosehead Insurance will post 1.45 earnings per share for the current fiscal year.

Institutional Trading of Goosehead Insurance

Several institutional investors have recently added to or reduced their stakes in GSHD. Phocas Financial Corp. acquired a new stake in Goosehead Insurance during the 4th quarter valued at approximately $3,669,000. M&T Bank Corp lifted its position in shares of Goosehead Insurance by 1,075.4% in the 4th quarter. M&T Bank Corp now owns 115,834 shares of the company’s stock worth $8,531,000 after purchasing an additional 105,979 shares during the period. Langdon Equity Partners bought a new stake in shares of Goosehead Insurance in the 4th quarter valued at $41,892,000. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Goosehead Insurance by 43,893.9% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 65,111 shares of the company’s stock valued at $4,795,000 after purchasing an additional 64,963 shares during the last quarter. Finally, UBS Group AG increased its position in shares of Goosehead Insurance by 26.7% during the fourth quarter. UBS Group AG now owns 156,019 shares of the company’s stock worth $11,491,000 after buying an additional 32,920 shares during the period.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on GSHD shares. Keefe, Bruyette & Woods reduced their price target on Goosehead Insurance from $80.00 to $72.00 and set an “outperform” rating on the stock in a report on Thursday, July 23rd. Weiss Ratings upgraded shares of Goosehead Insurance from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday, July 9th. JPMorgan Chase & Co. lifted their target price on shares of Goosehead Insurance from $55.00 to $60.00 and gave the stock a “neutral” rating in a research report on Monday, July 13th. Royal Bank Of Canada upped their price target on shares of Goosehead Insurance from $55.00 to $58.00 and gave the company a “sector perform” rating in a research report on Thursday, July 23rd. Finally, Bank of America dropped their price target on shares of 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 analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Goosehead Insurance currently has a consensus rating of “Hold” and an average price target of $68.45.

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.