Piper Sandler Forecasts Strong Price Appreciation for Goosehead Insurance (NASDAQ:GSHD) Stock

Goosehead Insurance (NASDAQ:GSHD) had its price objective boosted by equities research analysts at Piper Sandler from $48.00 to $56.00 in a research report issued on Tuesday, Benzinga reports. The firm currently has a “neutral” rating on the stock. Piper Sandler‘s price target suggests a potential upside of 2.40% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the company. Citigroup restated a “market outperform” rating on shares of Goosehead Insurance in a research report on Monday, October 12th. Truist Financial reduced their price target on Goosehead Insurance from $58.00 to $48.00 and set a “hold” rating for the company in a research report on Tuesday, October 13th. Deutsche Bank Aktiengesellschaft set a $80.00 price objective on Goosehead Insurance in a report on Monday, October 12th. Keefe, Bruyette & Woods cut their target price on Goosehead Insurance from $72.00 to $66.00 and set an “outperform” rating for the company in a research note on Monday, October 12th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $76.00 target price on shares of Goosehead Insurance in a report on Thursday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, six have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Goosehead Insurance presently has a consensus rating of “Hold” and a consensus target price of $65.08.

Goosehead Insurance Trading Down 1.5%

GSHD opened at $54.69 on Tuesday. The company has a 50 day moving average of $51.14 and a 200 day moving average of $50.53. The company has a market cap of $1.94 billion, a PE ratio of 39.92, a price-to-earnings-growth ratio of 2.13 and a beta of 1.51. Goosehead Insurance has a 12 month low of $33.68 and a 12 month high of $79.85.

Insider Buying and Selling at Goosehead Insurance

In other news, major shareholder Adrienne Kebodeaux sold 7,000 shares of the business’s stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $70.00, for a total transaction of $490,000.00. Following the completion of the transaction, the insider directly owned 273,027 shares in the company, valued at $19,111,890. The trade was a 2.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Durable Capital Partners Lp purchased 150,000 shares of the firm’s stock in a transaction dated Tuesday, September 22nd. The stock was purchased at an average cost of $47.32 per share, for a total transaction of $7,098,000.00. Following the acquisition, the insider owned 2,720,260 shares of the company’s stock, valued at approximately $128,722,703.20. This trade represents a 5.84% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 38.07% of the stock is owned by company insiders.

Hedge Funds Weigh In On Goosehead Insurance

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GSHD. Intech Investment Management LLC grew its holdings in shares of Goosehead Insurance by 369.2% during the third quarter. Intech Investment Management LLC now owns 20,790 shares of the company’s stock worth $943,000 after purchasing an additional 16,359 shares in the last quarter. Maryland State Retirement & Pension System bought a new position in shares of Goosehead Insurance in the third quarter worth approximately $244,000. Riverbridge Partners LLC raised its position in shares of Goosehead Insurance by 4.1% during the 3rd quarter. Riverbridge Partners LLC now owns 120,605 shares of the company’s stock valued at $5,471,000 after buying an additional 4,786 shares in the last quarter. Covestor Ltd grew its position in Goosehead Insurance by 112.0% in the third quarter. Covestor Ltd now owns 581 shares of the company’s stock worth $26,000 after acquiring an additional 307 shares in the last quarter. Finally, Integrity Alliance LLC. purchased a new position in Goosehead Insurance in the third quarter worth $1,075,000.

About Goosehead Insurance

Goosehead Insurance is an independent insurance agency that distributes personal insurance products through a network of company-operated and franchised locations. The company works with multiple insurance carriers, helping customers compare coverage options and obtain policies.

Its offerings include homeowners, automobile, flood, umbrella and other personal insurance products. Goosehead also provides technology and support services to its agents, including tools for quoting, policy management and customer service.

Founded in 2003 by Mark and Robyn Jones, Goosehead is based in Westlake, Texas, and serves customers across the United States.