Goosehead Insurance (NASDAQ:GSHD) Shares Gap Down Following Analyst Downgrade

Goosehead Insurance, Inc (NASDAQ:GSHD) gapped down prior to trading on Thursday after JPMorgan Chase & Co. lowered their price target on the stock from $100.00 to $98.00. The stock had previously closed at $105.90, but opened at $98.17. JPMorgan Chase & Co. currently has a neutral rating on the stock. Goosehead Insurance shares last traded at $93.12, with a volume of 237,561 shares traded.

Several other research analysts have also recently issued reports on the company. UBS Group increased their price target on Goosehead Insurance from $120.00 to $145.00 and gave the stock a “buy” rating in a research note on Friday, March 7th. Bank of America increased their target price on shares of Goosehead Insurance from $39.00 to $43.00 and gave the company an “underperform” rating in a research report on Tuesday, February 25th. Piper Sandler dropped their price target on shares of Goosehead Insurance from $132.00 to $122.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 9th. JMP Securities reiterated a “market outperform” rating and issued a $150.00 price objective on shares of Goosehead Insurance in a report on Thursday. Finally, Truist Financial reissued a “hold” rating and set a $90.00 target price (up previously from $80.00) on shares of Goosehead Insurance in a report on Tuesday, February 25th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $113.70.

Insider Buying and Selling

In other news, major shareholder & Robyn Jones Descendants Mark sold 19,600 shares of the business’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $123.09, for a total transaction of $2,412,564.00. Following the sale, the insider now directly owns 132,349 shares of the company’s stock, valued at $16,290,838.41. The trade was a 12.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Thomas Mcconnon sold 205,000 shares of the company’s stock in a transaction on Friday, February 28th. The shares were sold at an average price of $121.35, for a total value of $24,876,750.00. Following the sale, the director now directly owns 339,008 shares of the company’s stock, valued at approximately $41,138,620.80. This represents a 37.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 308,812 shares of company stock worth $37,392,258. Corporate insiders own 48.35% of the company’s stock.

Institutional Trading of Goosehead Insurance

A number of hedge funds have recently bought and sold shares of GSHD. Alberta Investment Management Corp raised its holdings in shares of Goosehead Insurance by 232.8% during the fourth quarter. Alberta Investment Management Corp now owns 36,588 shares of the company’s stock valued at $3,923,000 after acquiring an additional 25,595 shares during the period. KLP Kapitalforvaltning AS purchased a new position in Goosehead Insurance during the 4th quarter worth approximately $536,000. Principal Financial Group Inc. raised its stake in Goosehead Insurance by 3.8% during the 4th quarter. Principal Financial Group Inc. now owns 118,854 shares of the company’s stock valued at $12,744,000 after purchasing an additional 4,333 shares during the period. Great Lakes Advisors LLC purchased a new stake in shares of Goosehead Insurance in the fourth quarter valued at $8,737,000. Finally, Amundi purchased a new stake in shares of Goosehead Insurance in the fourth quarter valued at $1,902,000.

Goosehead Insurance Trading Up 6.8 %

The firm has a market cap of $3.71 billion, a price-to-earnings ratio of 138.25, a PEG ratio of 5.17 and a beta of 1.48. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 37.70. The company has a 50-day moving average price of $113.44 and a 200 day moving average price of $111.21.

About Goosehead Insurance

Goosehead Insurance, Inc operates as a holding company for Goosehead Financial, LLC that engages in the provision of personal lines insurance agency services in the United States. The company offers homeowner’s, automotive, dwelling property, flood, wind, earthquake, excess liability or umbrella, motorcycle, recreational vehicle, general liability, property, and life insurance products and services.