Goosehead Insurance (NASDAQ:GSHD) Stock Price Down 6% – What’s Next?

Goosehead Insurance (NASDAQ:GSHD)’s share price fell 6% during mid-day trading on Tuesday . The company traded as low as $65.32 and last traded at $64.1750. 109,197 shares were traded during mid-day trading, a decline of 50% from the average session volume of 216,534 shares. The stock had previously closed at $68.28.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. BMO Capital Markets lowered their price target on shares of Goosehead Insurance from $110.00 to $79.00 and set a “market perform” rating on the stock in a research report on Tuesday, November 25th. Truist Financial decreased their target price on shares of Goosehead Insurance from $85.00 to $72.00 and set a “hold” rating on the stock in a research report on Thursday, October 23rd. JPMorgan Chase & Co. dropped their price target on shares of Goosehead Insurance from $85.00 to $80.00 and set a “neutral” rating for the company in a research report on Wednesday, January 7th. Cantor Fitzgerald cut their price target on Goosehead Insurance from $125.00 to $111.00 and set an “overweight” rating for the company in a research note on Wednesday, January 14th. Finally, Wall Street Zen lowered Goosehead Insurance from a “hold” rating to a “sell” rating in a research note on Saturday, January 17th. Six research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Goosehead Insurance currently has an average rating of “Hold” and a consensus price target of $90.30.

Goosehead Insurance Stock Down 6.6%

The firm has a market capitalization of $2.35 billion, a P/E ratio of 56.45, a PEG ratio of 8.68 and a beta of 1.53. The business’s 50 day moving average is $72.94 and its 200-day moving average is $77.53.

Insider Activity

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 transaction of $5,130,283.32. Following the completion of the transaction, the director owned 269,322 shares of the company’s stock, valued at approximately $19,827,485.64. The trade was a 20.56% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel John Terry O’connor acquired 2,100 shares of Goosehead Insurance stock in a transaction that occurred on Wednesday, November 26th. The stock was acquired at an average cost of $71.81 per share, for a total transaction of $150,801.00. Following the completion of the purchase, the general counsel directly owned 3,100 shares of the company’s stock, valued at $222,611. This represents a 210.00% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Corporate insiders own 37.76% of the company’s stock.

Hedge Funds Weigh In On Goosehead Insurance

A number of institutional investors have recently added to or reduced their stakes in the stock. Durable Capital Partners LP boosted its position in Goosehead Insurance by 126.5% in the third quarter. Durable Capital Partners LP now owns 1,542,186 shares of the company’s stock valued at $114,769,000 after buying an additional 861,374 shares in the last quarter. Whitebark Investors LP bought a new position in shares of Goosehead Insurance in the 3rd quarter valued at $25,229,000. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Goosehead Insurance during the 3rd quarter valued at $25,222,000. Balyasny Asset Management L.P. grew its position in Goosehead Insurance by 118.7% during the 2nd quarter. Balyasny Asset Management L.P. now owns 556,760 shares of the company’s stock worth $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% during the 2nd 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 during 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.