JPMorgan Chase & Co. Cuts Goosehead Insurance (NASDAQ:GSHD) Price Target to $80.00

Goosehead Insurance (NASDAQ:GSHD) had its price target reduced by JPMorgan Chase & Co. from $85.00 to $80.00 in a research note released on Wednesday,Benzinga reports. They currently have a neutral rating on the stock.

A number of other research analysts also recently commented on the company. JMP Securities dropped their price objective on Goosehead Insurance from $150.00 to $140.00 and set a “market outperform” rating on the stock in a report on Tuesday, October 14th. UBS Group lowered their price target on Goosehead Insurance from $130.00 to $121.00 and set a “buy” rating for the company in a report on Monday, October 27th. Weiss Ratings reiterated a “hold (c)” rating on shares of Goosehead Insurance in a research note on Friday, October 31st. Jefferies Financial Group assumed coverage on shares of Goosehead Insurance in a report on Monday, December 1st. They set a “buy” rating and a $93.00 price objective on the stock. Finally, Truist Financial lowered their target price on shares of Goosehead Insurance from $85.00 to $72.00 and set a “hold” rating for the company in a report on Thursday, October 23rd. Six investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $91.70.

Goosehead Insurance Trading Up 0.1%

Shares of NASDAQ:GSHD opened at $74.88 on Wednesday. Goosehead Insurance has a 52 week low of $64.40 and a 52 week high of $127.99. The company’s 50 day moving average is $72.50 and its two-hundred day moving average is $80.26. The company has a market cap of $2.76 billion, a PE ratio of 66.27, a P/E/G ratio of 9.31 and a beta of 1.53.

Goosehead Insurance (NASDAQ:GSHD) last released its quarterly earnings data on Thursday, October 23rd. The company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.08). The firm had revenue of $90.44 million for the quarter, compared to analysts’ expectations of $94.25 million. Goosehead Insurance had a negative return on equity of 34.60% and a net margin of 8.55%.Goosehead Insurance’s revenue for the quarter was up 15.9% on a year-over-year basis. During the same period last year, the firm posted $0.50 earnings per share. As a group, equities research analysts expect that Goosehead Insurance will post 0.83 EPS for the current year.

Insider Transactions at Goosehead Insurance

In related news, Director Thomas Mcconnon sold 69,686 shares of the company’s stock in a transaction on Monday, December 1st. The shares were sold at an average price of $73.62, for a total value of $5,130,283.32. Following the completion of the sale, the director owned 269,322 shares in the company, valued at $19,827,485.64. This represents a 20.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Mark Miller purchased 5,000 shares of the firm’s stock in a transaction that occurred on Friday, November 28th. The shares were acquired at an average price of $72.34 per share, with a total value of $361,700.00. Following the purchase, the chief executive officer owned 35,000 shares in the company, valued at $2,531,900. This trade represents a 16.67% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have purchased a total of 7,973 shares of company stock worth $577,487 in the last three months. Corporate insiders own 48.35% of the company’s stock.

Institutional Investors Weigh In On Goosehead Insurance

A number of institutional investors and hedge funds have recently made changes to their positions in GSHD. Amundi boosted its holdings in Goosehead Insurance by 181.0% in the 1st quarter. Amundi now owns 51,524 shares of the company’s stock valued at $6,228,000 after purchasing an additional 33,188 shares in the last quarter. Caxton Associates LLP purchased a new position in shares of Goosehead Insurance during the 2nd quarter worth approximately $2,140,000. Index Fund Advisors Inc. purchased a new position in shares of Goosehead Insurance during the 2nd quarter worth approximately $1,510,000. GAMMA Investing LLC lifted its holdings in shares of Goosehead Insurance by 41.7% in the 2nd quarter. GAMMA Investing LLC now owns 873 shares of the company’s stock valued at $92,000 after buying an additional 257 shares during the period. Finally, Panagora Asset Management Inc. purchased a new stake in shares of Goosehead Insurance in the second quarter valued at approximately $1,948,000.

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.