Goosehead Insurance (NASDAQ:GSHD) Trading 4.6% Higher – Time to Buy?

Goosehead Insurance (NASDAQ:GSHD)’s stock price traded up 4.6% during trading on Tuesday . The company traded as high as $67.13 and last traded at $67.3350. 16,237 shares changed hands during mid-day trading, a decline of 97% from the average session volume of 501,403 shares. The stock had previously closed at $64.40.

Wall Street Analysts Forecast Growth

GSHD has been the subject of several recent analyst reports. JPMorgan Chase & Co. upped their price objective on shares of Goosehead Insurance from $55.00 to $60.00 and gave the stock a “neutral” rating in a report on Monday, July 13th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $76.00 target price on shares of Goosehead Insurance in a report on Thursday, July 23rd. UBS Group boosted their target price on shares of Goosehead Insurance from $70.00 to $72.00 and gave the stock a “buy” rating in a research report on Monday, July 27th. Piper Sandler upped their price target on shares of Goosehead Insurance from $52.00 to $72.00 and gave the company an “overweight” rating in a report on Wednesday, July 15th. Finally, Royal Bank Of Canada raised their price target on Goosehead Insurance from $55.00 to $58.00 and gave the company a “sector perform” rating in a research report on Thursday, July 23rd. Seven investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $68.45.

Goosehead Insurance Price Performance

The firm has a 50 day moving average of $54.45 and a 200-day moving average of $48.41. The stock has a market capitalization of $2.43 billion, a P/E ratio of 49.92, a price-to-earnings-growth ratio of 2.32 and a beta of 1.38.

Goosehead Insurance (NASDAQ:GSHD) last announced its quarterly earnings data on Wednesday, July 22nd. The company reported $0.64 EPS 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 company had revenue of $95.63 million during the quarter, compared to the consensus estimate of $103.30 million. During the same quarter last year, the company earned $0.49 EPS. The company’s quarterly revenue was up 20.6% on a year-over-year basis. As a group, equities analysts expect that Goosehead Insurance will post 1.45 earnings per share for the current year.

Insider Activity at Goosehead Insurance

In other Goosehead Insurance news, major shareholder Durable Capital Partners Lp purchased 113,646 shares of the stock in a transaction on Friday, July 24th. The shares were purchased at an average price of $58.34 per share, with a total value of $6,630,107.64. Following the acquisition, the insider directly owned 2,493,927 shares of the company’s stock, valued at $145,495,701.18. This represents a 4.77% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO John Arthur Martin acquired 5,000 shares of the company’s stock in a transaction dated Thursday, May 28th. The stock was acquired at an average price of $34.73 per share, with a total value of $173,650.00. Following the purchase, the chief financial officer owned 5,000 shares in the company, valued at approximately $173,650. This represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders bought 197,779 shares of company stock worth $11,621,850 and sold 397,865 shares worth $23,237,576. 38.07% of the stock is currently owned by corporate insiders.

Institutional Trading of Goosehead Insurance

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wasatch Advisors LP lifted its stake in Goosehead Insurance by 32.3% during the first quarter. Wasatch Advisors LP now owns 2,292,227 shares of the company’s stock worth $97,786,000 after purchasing an additional 559,087 shares during the period. T. Rowe Price Investment Management Inc. grew its stake in shares of Goosehead Insurance by 38.5% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,002,003 shares of the company’s stock valued at $147,448,000 after purchasing an additional 556,293 shares during the period. Durable Capital Partners LP raised its holdings in shares of Goosehead Insurance by 126.5% in the 3rd quarter. Durable Capital Partners LP now owns 1,542,186 shares of the company’s stock worth $114,769,000 after buying an additional 861,374 shares in the last quarter. DF Dent & Co. Inc. raised its holdings in shares of Goosehead Insurance by 3.2% in the 4th quarter. DF Dent & Co. Inc. now owns 1,044,660 shares of the company’s stock worth $76,939,000 after buying an additional 32,246 shares in the last quarter. Finally, State Street Corp lifted its position in shares of Goosehead Insurance by 1.4% during the 2nd quarter. State Street Corp now owns 1,027,500 shares of the company’s stock worth $108,412,000 after buying an additional 14,311 shares during the period.

Goosehead Insurance Company Profile

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.