Goosehead Insurance (NASDAQ:GSHD) Stock Gets Price Target Increase from Piper Sandler

Key Points

• Piper Sandler raised its Goosehead Insurance price target to $56 from $48 but maintained a neutral rating, implying about 2.4% upside from the share price at the time of the report.
• Analyst sentiment overall is mixed: MarketBeat reported a consensus “Hold” rating and an average price target of $65.08, with one Strong Buy, six Buys, six Holds, and two Sells.
• Shares opened at $54.69 and were down 1.5% on Tuesday. Major shareholder Durable Capital Partners recently bought 150,000 shares, while another major shareholder sold 7,000 shares.

Goosehead Insurance (NASDAQ:GSHD - Get Free Report) had its price objective hoisted by investment analysts at Piper Sandler from $48.00 to $56.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage presently has a "neutral" rating on the stock. Piper Sandler's price target would suggest a potential upside of 2.40% from the company's current price.

Several other analysts have also issued reports on the stock. Royal Bank Of Canada upped their target price on shares of Goosehead Insurance from $55.00 to $58.00 and gave the stock a "sector perform" rating in a research note on Thursday, July 23rd. UBS Group boosted their price target on shares of Goosehead Insurance from $70.00 to $72.00 and gave the stock a "buy" rating in a report on Monday, July 27th. Citizens Jmp reduced their price objective on shares of Goosehead Insurance from $100.00 to $80.00 and set a "market outperform" rating for the company in a research report on Monday, October 12th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $76.00 price objective on shares of Goosehead Insurance in a research note on Thursday, July 23rd. Finally, Texas Capital raised shares of Goosehead Insurance from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, September 29th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $65.08.

Goosehead Insurance Trading Down 1.5%

Shares of NASDAQ:GSHD opened at $54.69 on Tuesday. The stock's fifty day simple moving average is $51.14 and its two-hundred day simple moving average is $50.53. 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 $1.94 billion, a PE ratio of 39.92, a price-to-earnings-growth ratio of 2.13 and a beta of 1.51.

Insider Transactions at Goosehead Insurance

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

Institutional Trading of Goosehead Insurance

A number of large investors have recently bought and sold shares of the company. Janus Henderson Group PLC raised its stake in shares of Goosehead Insurance by 3,485.1% in the first quarter. Janus Henderson Group PLC now owns 386,906 shares of the company's stock valued at $16,506,000 after buying an additional 376,114 shares during the period. Bank of America Corp DE grew its stake in shares of Goosehead Insurance by 28.2% during the 1st quarter. Bank of America Corp DE now owns 329,333 shares of the company's stock worth $14,049,000 after acquiring an additional 72,527 shares during the period. Principal Financial Group Inc. increased its holdings in Goosehead Insurance by 23.2% in the 1st quarter. Principal Financial Group Inc. now owns 219,745 shares of the company's stock worth $9,374,000 after acquiring an additional 41,334 shares during the last quarter. Sei Investments Co. increased its holdings in Goosehead Insurance by 9.4% in the 1st quarter. Sei Investments Co. now owns 163,452 shares of the company's stock worth $6,973,000 after acquiring an additional 14,051 shares during the last quarter. Finally, Bank of New York Mellon Corp purchased a new stake in Goosehead Insurance in the 2nd quarter worth about $6,545,000.

About Goosehead Insurance

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.

Founded in 2003 by Mark and Robyn Jones, Goosehead is based in Westlake, Texas, and serves customers across the United States.

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