Goosehead Insurance (NASDAQ:GSHD) Stock Price Down 7.2% – Here’s Why

Goosehead Insurance, Inc (NASDAQ:GSHD)’s stock price dropped 7.2% during trading on Monday . The company traded as low as $100.82 and last traded at $99.39. Approximately 26,271 shares were traded during mid-day trading, a decline of 90% from the average daily volume of 275,513 shares. The stock had previously closed at $107.05.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on GSHD. Keefe, Bruyette & Woods boosted their target price on Goosehead Insurance from $110.00 to $127.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 26th. UBS Group upped their price objective on Goosehead Insurance from $120.00 to $145.00 and gave the stock a “buy” rating in a report on Friday, March 7th. Bank of America raised their target price on Goosehead Insurance from $39.00 to $43.00 and gave the company an “underperform” rating in a report on Tuesday, February 25th. Piper Sandler reduced their price objective on shares of Goosehead Insurance from $132.00 to $122.00 and set an “overweight” rating for the company in a research note on Wednesday, April 9th. Finally, JPMorgan Chase & Co. increased their target price on shares of Goosehead Insurance from $90.00 to $100.00 and gave the company a “neutral” rating in a report on Tuesday, April 8th. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $110.10.

Goosehead Insurance Stock Down 8.8 %

The company has a debt-to-equity ratio of 37.70, a current ratio of 1.55 and a quick ratio of 1.55. The firm has a 50-day simple moving average of $114.89 and a two-hundred day simple moving average of $111.13. The company has a market cap of $3.64 billion, a PE ratio of 135.60, a P/E/G ratio of 5.17 and a beta of 1.48.

Insiders Place Their Bets

In related news, major shareholder & Robyn Jones Descendants Mark sold 19,600 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $123.09, for a total value of $2,412,564.00. Following the sale, the insider now directly owns 132,349 shares of the company’s stock, valued at approximately $16,290,838.41. This trade represents a 12.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Thomas Mcconnon sold 205,000 shares of the business’s stock in a transaction on Friday, February 28th. The shares were sold at an average price of $121.35, for a total transaction of $24,876,750.00. Following the sale, the director now directly owns 339,008 shares of the company’s stock, valued at $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. Insiders have sold 308,812 shares of company stock valued at $37,392,258 in the last ninety days. Insiders own 48.35% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in shares of Goosehead Insurance by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 2,499,479 shares of the company’s stock valued at $267,994,000 after buying an additional 19,980 shares during the period. American Century Companies Inc. lifted its position in shares of Goosehead Insurance by 51.4% during the fourth quarter. American Century Companies Inc. now owns 649,104 shares of the company’s stock worth $69,597,000 after purchasing an additional 220,267 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Goosehead Insurance by 0.9% in the third quarter. Geode Capital Management LLC now owns 643,514 shares of the company’s stock valued at $57,476,000 after purchasing an additional 5,969 shares during the period. Whitebark Investors LP purchased a new stake in Goosehead Insurance during the 4th quarter worth $55,326,000. Finally, Northern Trust Corp lifted its holdings in Goosehead Insurance by 10.4% in the 4th quarter. Northern Trust Corp now owns 266,466 shares of the company’s stock worth $28,570,000 after buying an additional 25,173 shares in the last quarter.

Goosehead Insurance Company Profile

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.