JPMorgan Chase & Co. Has Lowered Expectations for Goosehead Insurance (NASDAQ:GSHD) Stock Price

Goosehead Insurance (NASDAQ:GSHD) had its target price decreased by equities research analysts at JPMorgan Chase & Co. from $85.00 to $80.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 9.50% from the stock’s previous close.

GSHD has been the topic of a number of other reports. Citigroup restated an “outperform” rating on shares of Goosehead Insurance in a research note on Tuesday, October 14th. Piper Sandler decreased their price objective on shares of Goosehead Insurance from $79.00 to $69.00 and set a “neutral” rating on the stock in a research report on Thursday, October 23rd. Keefe, Bruyette & Woods dropped their target price on shares of Goosehead Insurance from $102.00 to $95.00 and set an “outperform” rating for the company in a research report on Thursday, October 23rd. Weiss Ratings reissued a “hold (c)” rating on shares of Goosehead Insurance in a report on Friday, October 31st. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Goosehead Insurance in a research report on Thursday, October 23rd. Six analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $91.70.

Goosehead Insurance Stock Performance

Shares of NASDAQ GSHD traded up $0.13 during midday trading on Wednesday, hitting $73.06. 27,644 shares of the stock traded hands, compared to its average volume of 197,778. Goosehead Insurance has a one year low of $64.40 and a one year high of $127.99. The business has a 50 day moving average price of $72.14 and a two-hundred day moving average price of $80.53. The company has a market cap of $2.69 billion, a PE ratio of 64.66, a P/E/G ratio of 9.40 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 for the quarter, missing the consensus estimate of $0.54 by ($0.08). The business had revenue of $90.44 million for the quarter, compared to analyst estimates of $94.25 million. Goosehead Insurance had a negative return on equity of 34.60% and a net margin of 8.55%.The business’s quarterly revenue was up 15.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.50 EPS. As a group, equities research analysts forecast that Goosehead Insurance will post 0.83 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Thomas Mcconnon sold 69,686 shares of the business’s stock in a transaction on Monday, December 1st. The stock was sold at an average price of $73.62, for a total value of $5,130,283.32. Following the completion of the transaction, the director owned 269,322 shares in the company, valued at $19,827,485.64. The trade was a 20.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Mark E. Jr. Jones bought 873 shares of the business’s stock in a transaction on Monday, October 27th. The stock was bought at an average cost of $74.44 per share, with a total value of $64,986.12. Following the transaction, the chief financial officer owned 4,364 shares in the company, valued at $324,856.16. This trade represents a 25.01% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders bought 7,973 shares of company stock valued at $577,487. Insiders own 37.76% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Durable Capital Partners LP raised its stake in shares of Goosehead Insurance by 126.5% in the third 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 during the period. Whitebark Investors LP purchased a new stake in shares of Goosehead Insurance during the 3rd quarter valued at about $25,229,000. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Goosehead Insurance during the 3rd quarter valued at about $25,222,000. Balyasny Asset Management L.P. lifted its holdings in shares of Goosehead Insurance by 118.7% in the 2nd quarter. Balyasny Asset Management L.P. now owns 556,760 shares of the company’s stock valued at $58,744,000 after acquiring an additional 302,130 shares during the last quarter. Finally, Wasatch Advisors LP grew its position in Goosehead Insurance by 12.6% in the second quarter. Wasatch Advisors LP now owns 2,275,369 shares of the company’s stock worth $240,074,000 after acquiring an additional 253,777 shares in the last quarter.

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.