Goosehead Insurance $GSHD Shares Sold by T. Rowe Price Investment Management Inc.

Key Points

• T. Rowe Price Investment Management Inc. reduced its stake in Goosehead Insurance by 6.2%, owning approximately 1.2 million shares valued at $142.24 million by the end of the first quarter.
• Multiple hedge funds, including Quantbot Technologies LP and Public Sector Pension Investment Board, have significantly increased their holdings in Goosehead Insurance during the same period.
• Analysts have downgraded their price targets for Goosehead Insurance, with Piper Sandler setting a target of $109.00, down from $122.00, amid mixed sentiment across various ratings.

T. Rowe Price Investment Management Inc. lowered its stake in shares of Goosehead Insurance (NASDAQ:GSHD - Free Report) by 6.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,204,813 shares of the company's stock after selling 79,372 shares during the quarter. T. Rowe Price Investment Management Inc. owned approximately 3.21% of Goosehead Insurance worth $142,241,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Quantbot Technologies LP grew its holdings in Goosehead Insurance by 179.4% in the 1st quarter. Quantbot Technologies LP now owns 27,329 shares of the company's stock worth $3,226,000 after buying an additional 17,547 shares in the last quarter. Cresset Asset Management LLC bought a new position in Goosehead Insurance in the 1st quarter worth approximately $401,000. HighTower Advisors LLC grew its holdings in Goosehead Insurance by 3.9% in the 1st quarter. HighTower Advisors LLC now owns 5,504 shares of the company's stock worth $650,000 after buying an additional 205 shares in the last quarter. Public Sector Pension Investment Board grew its holdings in Goosehead Insurance by 27.3% in the 1st quarter. Public Sector Pension Investment Board now owns 77,334 shares of the company's stock worth $9,130,000 after buying an additional 16,570 shares in the last quarter. Finally, Nuveen LLC bought a new position in Goosehead Insurance in the 1st quarter worth approximately $8,025,000.

Insiders Place Their Bets

In other news, major shareholder Adrienne Kebodeaux sold 3,000 shares of the stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $86.30, for a total transaction of $258,900.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder & Robyn Jones Descendants Mark sold 600 shares of the stock in a transaction on Friday, August 15th. The shares were sold at an average price of $87.01, for a total value of $52,206.00. Following the sale, the insider owned 132,349 shares of the company's stock, valued at $11,515,686.49. This trade represents a 0.45% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 258,665 shares of company stock valued at $23,099,836 in the last quarter. Insiders own 48.35% of the company's stock.

Analyst Upgrades and Downgrades

GSHD has been the subject of a number of recent analyst reports. Piper Sandler reissued a "neutral" rating and issued a $109.00 price objective (down from $122.00) on shares of Goosehead Insurance in a report on Thursday, July 24th. Keefe, Bruyette & Woods decreased their price objective on Goosehead Insurance from $130.00 to $120.00 and set an "outperform" rating for the company in a report on Thursday, July 24th. BMO Capital Markets decreased their price target on Goosehead Insurance from $142.00 to $110.00 and set a "market perform" rating for the company in a research note on Friday, July 25th. UBS Group decreased their price target on Goosehead Insurance from $140.00 to $136.00 and set a "buy" rating for the company in a research note on Monday, July 28th. Finally, JPMorgan Chase & Co. decreased their price target on Goosehead Insurance from $100.00 to $98.00 and set a "neutral" rating for the company in a research note on Thursday, April 24th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $110.91.

Goosehead Insurance Stock Performance

Shares of NASDAQ GSHD opened at $86.58 on Friday. The stock has a fifty day moving average price of $95.28 and a two-hundred day moving average price of $105.36. The company has a debt-to-equity ratio of 2.10, a quick ratio of 2.92 and a current ratio of 2.92. The firm has a market cap of $3.25 billion, a P/E ratio of 76.62, a PEG ratio of 7.58 and a beta of 1.31. Goosehead Insurance has a 1 year low of $79.33 and a 1 year high of $130.39.

Goosehead Insurance (NASDAQ:GSHD - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The company reported $0.49 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.53 by ($0.04). Goosehead Insurance had a net margin of 8.76% and a negative return on equity of 59.49%. The firm had revenue of $94.03 million for the quarter, compared to the consensus estimate of $94.18 million. During the same period in the previous year, the business posted $0.43 earnings per share. The business's revenue for the quarter was up 20.4% compared to the same quarter last year. Goosehead Insurance has set its FY 2025 guidance at EPS. Research analysts forecast that Goosehead Insurance will post 0.83 EPS for the current fiscal year.

Goosehead Insurance Profile

Goosehead Insurance, Inc operates as a holding company for Goosehead Financial, LLC that engages in the provision of personal lines insurance agency services in the United States. The company offers homeowner's, automotive, dwelling property, flood, wind, earthquake, excess liability or umbrella, motorcycle, recreational vehicle, general liability, property, and life insurance products and services.

Want to see what other hedge funds are holding GSHD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Goosehead Insurance (NASDAQ:GSHD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.