Insider Selling: Goosehead Insurance, Inc (NASDAQ:GSHD) Major Shareholder Sells 7,674 Shares of Stock

Goosehead Insurance, Inc (NASDAQ:GSHD) major shareholder Patrick Ryan Langston sold 7,674 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $85.19, for a total transaction of $653,748.06. Following the completion of the sale, the insider now directly owns 5,000 shares of the company’s stock, valued at approximately $425,950. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Goosehead Insurance Trading Up 0.4 %

Shares of GSHD traded up $0.36 during midday trading on Friday, hitting $85.78. 251,428 shares of the stock were exchanged, compared to its average volume of 304,887. The firm has a market cap of $3.26 billion, a P/E ratio of 138.35, a P/E/G ratio of 4.61 and a beta of 1.35. Goosehead Insurance, Inc has a 52-week low of $50.47 and a 52-week high of $92.76. The company has a debt-to-equity ratio of 2.31, a quick ratio of 1.14 and a current ratio of 1.13. The stock has a fifty day simple moving average of $67.78 and a 200 day simple moving average of $68.46.

Goosehead Insurance (NASDAQ:GSHD) last posted its quarterly earnings data on Wednesday, July 24th. The company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.39 by $0.04. Goosehead Insurance had a net margin of 6.71% and a return on equity of 244.15%. The business had revenue of $78.10 million during the quarter, compared to analyst estimates of $74.31 million. During the same quarter last year, the firm posted $0.25 earnings per share. The business’s revenue for the quarter was up 12.7% compared to the same quarter last year. On average, research analysts anticipate that Goosehead Insurance, Inc will post 0.75 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in GSHD. USA Financial Formulas boosted its stake in shares of Goosehead Insurance by 5,350.0% in the fourth quarter. USA Financial Formulas now owns 327 shares of the company’s stock valued at $25,000 after purchasing an additional 321 shares during the period. DekaBank Deutsche Girozentrale purchased a new position in shares of Goosehead Insurance in the fourth quarter valued at approximately $35,000. Benjamin F. Edwards & Company Inc. purchased a new position in shares of Goosehead Insurance in the first quarter valued at approximately $35,000. Cullen Frost Bankers Inc. boosted its stake in shares of Goosehead Insurance by 49.4% in the second quarter. Cullen Frost Bankers Inc. now owns 635 shares of the company’s stock valued at $36,000 after purchasing an additional 210 shares during the period. Finally, Quarry LP boosted its stake in shares of Goosehead Insurance by 2,810.7% in the second quarter. Quarry LP now owns 815 shares of the company’s stock valued at $47,000 after purchasing an additional 787 shares during the period.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Piper Sandler raised their price target on shares of Goosehead Insurance from $65.00 to $72.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. TD Cowen cut Goosehead Insurance from a “buy” rating to a “hold” rating and cut their target price for the stock from $98.00 to $94.00 in a research note on Thursday. Truist Financial raised their target price on Goosehead Insurance from $60.00 to $65.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. JPMorgan Chase & Co. raised their target price on Goosehead Insurance from $65.00 to $77.00 and gave the stock a “neutral” rating in a research note on Monday. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $80.00 target price on shares of Goosehead Insurance in a research note on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $78.60.

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.