Polen Capital Management LLC Has $7.24 Million Position in Goosehead Insurance (NASDAQ:GSHD)

Key Points

• Polen Capital Management LLC reduced its holdings in Goosehead Insurance by 27.3% during the first quarter, selling 22,993 shares and bringing its total ownership to 61,317 shares valued at approximately $7.24 million.
• Goosehead Insurance reported a quarterly EPS of $0.49, which fell short of the consensus estimate of $0.53, and had a net revenue of $94.03 million, slightly less than analysts' expectations.
• Brokerages have adjusted their price targets for Goosehead Insurance, with Piper Sandler setting a new target of $109.00 and several firms lowering their targets, reflecting mixed sentiments about the company’s stock performance.

Polen Capital Management LLC trimmed its position in shares of Goosehead Insurance (NASDAQ:GSHD - Free Report) by 27.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 61,317 shares of the company's stock after selling 22,993 shares during the period. Polen Capital Management LLC owned approximately 0.16% of Goosehead Insurance worth $7,239,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Bessemer Group Inc. increased its position in shares of Goosehead Insurance by 192.9% in the 1st quarter. Bessemer Group Inc. now owns 290 shares of the company's stock worth $34,000 after purchasing an additional 191 shares during the last quarter. TCTC Holdings LLC grew its position in shares of Goosehead Insurance by 117.1% during the 1st quarter. TCTC Holdings LLC now owns 330 shares of the company's stock valued at $39,000 after buying an additional 178 shares during the last quarter. Larson Financial Group LLC grew its holdings in shares of Goosehead Insurance by 1,251.6% during the first quarter. Larson Financial Group LLC now owns 419 shares of the company's stock valued at $49,000 after purchasing an additional 388 shares during the last quarter. DekaBank Deutsche Girozentrale bought a new position in shares of Goosehead Insurance during the first quarter valued at approximately $53,000. Finally, Simplex Trading LLC bought a new position in Goosehead Insurance during the 1st quarter worth $88,000.

Insider Buying and Selling

In other news, major shareholder & Robyn Jones Descendants Mark sold 45,998 shares of the firm's stock in a transaction on Monday, August 11th. The stock was sold at an average price of $86.44, for a total transaction of $3,976,067.12. Following the completion of the sale, the insider directly owned 132,349 shares of the company's stock, valued at $11,440,247.56. This trade represents a 25.79% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Mark E. Jr. Jones acquired 1,149 shares of Goosehead Insurance stock in a transaction dated Tuesday, July 29th. The shares were bought at an average cost of $86.08 per share, with a total value of $98,905.92. Following the completion of the purchase, the chief financial officer owned 3,491 shares in the company, valued at approximately $300,505.28. This represents a 49.06% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 126,459 shares of company stock worth $11,533,528. Corporate insiders own 48.35% of the company's stock.

Goosehead Insurance Price Performance

GSHD stock traded up $4.61 during trading hours on Wednesday, hitting $90.68. 730,248 shares of the stock traded hands, compared to its average volume of 299,793. Goosehead Insurance has a one year low of $79.33 and a one year high of $130.39. The company has a current ratio of 2.92, a quick ratio of 2.92 and a debt-to-equity ratio of 2.10. The stock has a 50-day simple moving average of $98.39 and a 200 day simple moving average of $106.31. The company has a market cap of $3.41 billion, a P/E ratio of 80.25, a P/E/G ratio of 7.60 and a beta of 1.31.

Goosehead Insurance (NASDAQ:GSHD - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The company reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.04). The business had revenue of $94.03 million for the quarter, compared to the consensus estimate of $94.18 million. Goosehead Insurance had a net margin of 8.76% and a negative return on equity of 59.49%. The business's revenue for the quarter was up 20.4% on a year-over-year basis. During the same quarter last year, the business posted $0.43 EPS. Equities analysts forecast that Goosehead Insurance will post 0.83 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on GSHD shares. JPMorgan Chase & Co. lowered their price objective 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. Piper Sandler restated a "neutral" rating and set a $109.00 price target (down previously from $122.00) on shares of Goosehead Insurance in a research report on Thursday, July 24th. BMO Capital Markets decreased their target price on shares of Goosehead Insurance from $142.00 to $110.00 and set a "market perform" rating for the company in a research report on Friday, July 25th. UBS Group decreased their price objective on Goosehead Insurance from $140.00 to $136.00 and set a "buy" rating for the company in a report on Monday, July 28th. Finally, Cantor Fitzgerald assumed coverage on Goosehead Insurance in a report on Tuesday. They issued an "overweight" rating and a $125.00 price objective for the company. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $110.91.

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.