Keefe, Bruyette & Woods Cuts Goosehead Insurance (NASDAQ:GSHD) Price Target to $85.00

Goosehead Insurance (NASDAQ:GSHD) had its price objective trimmed by Keefe, Bruyette & Woods from $95.00 to $85.00 in a report published on Wednesday morning,Benzinga reports. The firm currently has an outperform rating on the stock.

Several other research firms also recently weighed in on GSHD. UBS Group reduced their price objective on shares of Goosehead Insurance from $130.00 to $121.00 and set a “buy” rating for the company in a report on Monday, October 27th. Zacks Research upgraded shares of Goosehead Insurance from a “strong sell” rating to a “hold” rating in a report on Monday, November 10th. Wall Street Zen raised Goosehead Insurance from a “sell” rating to a “hold” rating in a report on Saturday, February 7th. Truist Financial decreased their price target on Goosehead Insurance from $85.00 to $72.00 and set a “hold” rating for the company in a research note on Thursday, October 23rd. Finally, Piper Sandler raised Goosehead Insurance from a “neutral” rating to an “overweight” rating and set a $69.00 price objective on the stock in a research note on Wednesday. Seven research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Goosehead Insurance currently has an average rating of “Hold” and a consensus price target of $84.00.

Goosehead Insurance Stock Up 1.6%

Shares of NASDAQ:GSHD opened at $44.45 on Wednesday. The company’s 50-day moving average price is $66.29 and its 200 day moving average price is $72.66. The company has a market cap of $1.64 billion, a PE ratio of 42.74, a P/E/G ratio of 2.64 and a beta of 1.54. Goosehead Insurance has a fifty-two week low of $42.87 and a fifty-two week high of $127.99.

Goosehead Insurance (NASDAQ:GSHD) last announced its quarterly earnings results on Tuesday, February 17th. The company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.54 by $0.10. The company had revenue of $78.20 million for the quarter, compared to analyst estimates of $99.67 million. Goosehead Insurance had a net margin of 7.62% and a negative return on equity of 21.31%. Goosehead Insurance’s revenue was up 12.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.79 earnings per share. As a group, equities analysts anticipate that Goosehead Insurance will post 0.83 EPS for the current year.

Insider Buying and Selling at Goosehead Insurance

In related news, Director Thomas Mcconnon sold 69,686 shares of the company’s stock in a transaction that occurred 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 approximately $19,827,485.64. This represents a 20.56% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Mark Miller acquired 5,000 shares of the firm’s stock in a transaction that occurred on Friday, November 28th. The stock was purchased at an average cost of $72.34 per share, with a total value of $361,700.00. Following the purchase, the chief executive officer directly owned 35,000 shares in the company, valued at approximately $2,531,900. This trade represents a 16.67% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders own 48.35% of the company’s stock.

Institutional Trading of Goosehead Insurance

A number of hedge funds have recently modified their holdings of GSHD. EverSource Wealth Advisors LLC grew its holdings in shares of Goosehead Insurance by 480.4% during the second quarter. EverSource Wealth Advisors LLC now owns 325 shares of the company’s stock valued at $34,000 after buying an additional 269 shares in the last quarter. Kestra Advisory Services LLC purchased a new position in Goosehead Insurance during the 4th quarter valued at about $41,000. Northwestern Mutual Wealth Management Co. grew its stake in Goosehead Insurance by 802.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 442 shares of the company’s stock valued at $47,000 after acquiring an additional 393 shares in the last quarter. CWM LLC increased its holdings in shares of Goosehead Insurance by 73.8% in the 2nd quarter. CWM LLC now owns 471 shares of the company’s stock valued at $50,000 after purchasing an additional 200 shares during the period. Finally, Fifth Third Bancorp increased its holdings in shares of Goosehead Insurance by 71.4% in the 3rd quarter. Fifth Third Bancorp now owns 682 shares of the company’s stock valued at $51,000 after purchasing an additional 284 shares during the period.

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.