Goosehead Insurance (NASDAQ:GSHD) Major Shareholder Durable Capital Partners Lp Buys 113,646 Shares of Stock

Key Points

• Durable Capital Partners bought 113,646 Goosehead Insurance shares for approximately $6.63 million at $58.34 each, increasing its ownership by 4.77% to 2.49 million shares. The firm also purchased an additional 40,077 shares on July 27.
• Goosehead shares rose 11% to $68.82, while the company reported quarterly EPS of $0.64, beating estimates by $0.17. Revenue increased 20.6% year over year to $95.63 million, though it fell short of consensus expectations.
• Analysts maintain a consensus “Hold” rating with an average price target of $68.45; recent target prices range from $58 to $100.

Goosehead Insurance (NASDAQ:GSHD - Get Free Report) major shareholder Durable Capital Partners Lp acquired 113,646 shares of the stock in a transaction that occurred on Friday, July 24th. The shares were bought at an average price of $58.34 per share, for a total transaction of $6,630,107.64. Following the purchase, the insider directly owned 2,493,927 shares of the company's stock, valued at approximately $145,495,701.18. This trade represents a 4.77% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Large shareholders that own more than 10% of a company's shares are required to disclose their sales and purchases with the SEC.

Durable Capital Partners Lp also recently made the following trade(s):

• On Monday, July 27th, Durable Capital Partners Lp bought 40,077 shares of Goosehead Insurance stock. The stock was purchased at an average price of $61.72 per share, with a total value of $2,473,552.44.

Goosehead Insurance Stock Up 11.0%

NASDAQ GSHD traded up $6.82 on Tuesday, reaching $68.82. 977,500 shares of the stock traded hands, compared to its average volume of 508,819. Goosehead Insurance has a 12 month low of $33.68 and a 12 month high of $93.90. The company has a market cap of $2.45 billion, a price-to-earnings ratio of 50.23, a P/E/G ratio of 2.10 and a beta of 1.41. The firm's fifty day simple moving average is $44.91 and its 200 day simple moving average is $48.86.

Goosehead Insurance (NASDAQ:GSHD - Get Free Report) last posted its quarterly earnings data on Wednesday, July 22nd. The company reported $0.64 EPS for the quarter, topping analysts' consensus estimates of $0.47 by $0.17. The company had revenue of $95.63 million for the quarter, compared to the consensus estimate of $103.30 million. Goosehead Insurance had a negative return on equity of 21.00% and a net margin of 8.78%.The company's quarterly revenue was up 20.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.49 EPS. As a group, equities research analysts forecast that Goosehead Insurance will post 1.45 EPS for the current fiscal year.

Analyst Ratings Changes

GSHD has been the subject of a number of research analyst reports. Royal Bank Of Canada upped their price target on shares of Goosehead Insurance from $55.00 to $58.00 and gave the company a "sector perform" rating in a report on Thursday, July 23rd. Keefe, Bruyette & Woods dropped their target price on shares of Goosehead Insurance from $80.00 to $72.00 and set an "outperform" rating on the stock in a report on Thursday, July 23rd. Cantor Fitzgerald reissued an "overweight" rating and set a $76.00 target price on shares of Goosehead Insurance in a research note on Thursday, July 23rd. Citizens Jmp decreased their target price on Goosehead Insurance from $125.00 to $100.00 and set a "market outperform" rating on the stock in a report on Monday, April 13th. Finally, Piper Sandler boosted their target price on Goosehead Insurance from $52.00 to $72.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 15th. Seven equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Goosehead Insurance presently has a consensus rating of "Hold" and an average price target of $68.45.

Institutional Trading of Goosehead Insurance

Several hedge funds and other institutional investors have recently modified their holdings of GSHD. AQR Capital Management LLC lifted its stake in Goosehead Insurance by 85.7% in the 1st quarter. AQR Capital Management LLC now owns 4,332 shares of the company's stock worth $511,000 after acquiring an additional 1,999 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Goosehead Insurance by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,369 shares of the company's stock valued at $1,578,000 after acquiring an additional 578 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in Goosehead Insurance by 86.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 354,775 shares of the company's stock valued at $41,885,000 after acquiring an additional 164,693 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Goosehead Insurance by 5.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 58,395 shares of the company's stock valued at $6,894,000 after purchasing an additional 3,218 shares during the period. Finally, Intech Investment Management LLC increased its holdings in shares of Goosehead Insurance by 28.2% in the 1st quarter. Intech Investment Management LLC now owns 11,179 shares of the company's stock valued at $1,320,000 after purchasing an additional 2,461 shares during the period.

Goosehead Insurance Company Profile

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.

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