Goosehead Insurance (NASDAQ:GSHD) Price Target Raised to $56.00

by · The Cerbat Gem

Goosehead Insurance (NASDAQ:GSHD – Free Report) had its target price increased by Piper Sandler from $48.00 to $56.00 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have a neutral rating on the stock.

Several other research firms have also recently issued reports on GSHD. Zacks Research cut Goosehead Insurance from a “hold” rating to a “strong sell” rating in a research report on Thursday, October 22nd. BMO Capital Markets reissued a “market perform” rating on shares of Goosehead Insurance in a research report on Wednesday, October 14th. Weiss Ratings lowered Goosehead Insurance from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, September 18th. Royal Bank Of Canada boosted their target price on Goosehead Insurance from $55.00 to $58.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 23rd. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $76.00 target price on shares of Goosehead Insurance in a research note on Thursday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $65.08.

Get Our Latest Analysis on GSHD

Goosehead Insurance Price Performance

Goosehead Insurance stock opened at $45.66 on Tuesday. Goosehead Insurance has a 1-year low of $33.68 and a 1-year high of $79.85. The stock has a market cap of $1.62 billion, a PE ratio of 33.33, a P/E/G ratio of 1.69 and a beta of 1.51. The stock’s fifty day moving average is $49.78 and its two-hundred day moving average is $50.19.

Insiders Place Their Bets

In related news, major shareholder Adrienne Kebodeaux sold 7,000 shares of Goosehead Insurance stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $70.00, for a total transaction of $490,000.00. Following the sale, the insider directly owned 273,027 shares in the company, valued at $19,111,890. This trade represents a 2.50% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Durable Capital Partners Lp purchased 150,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 22nd. The shares were bought at an average price of $47.32 per share, for a total transaction of $7,098,000.00. Following the completion of the purchase, the insider directly owned 2,720,260 shares in the company, valued at $128,722,703.20. This represents a 5.84% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 38.07% of the company’s stock.

Institutional Trading of Goosehead Insurance

A number of large investors have recently made changes to their positions in the company. MassMutual Private Wealth & Trust FSB increased its position in Goosehead Insurance by 484.1% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 514 shares of the company’s stock worth $25,000 after buying an additional 426 shares during the period. Covestor Ltd lifted its stake in Goosehead Insurance by 112.0% in the third quarter. Covestor Ltd now owns 581 shares of the company’s stock valued at $26,000 after buying an additional 307 shares during the last quarter. Versant Capital Management Inc boosted its holdings in shares of Goosehead Insurance by 471.9% in the second quarter. Versant Capital Management Inc now owns 772 shares of the company’s stock valued at $37,000 after acquiring an additional 637 shares during the period. Integrated Wealth Concepts LLC acquired a new stake in shares of Goosehead Insurance in the second quarter valued at approximately $48,000. Finally, Nykredit A S acquired a new stake in shares of Goosehead Insurance in the second quarter valued at approximately $50,000.

About Goosehead Insurance

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Goosehead Insurance is an independent insurance agency that distributes personal insurance products through a network of company-operated and franchised locations. The company works with multiple insurance carriers, helping customers compare coverage options and obtain policies. Its offerings include homeowners, automobile, flood, umbrella and other personal insurance products. Goosehead also provides technology and support services to its agents, including tools for quoting, policy management and customer service.

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