Goosehead Insurance (NASDAQ:GSHD) Major Shareholder Purchases $2,244,971.52 in Stock

Key Points

• Durable Capital Partners purchased 36,256 Goosehead Insurance shares for approximately $2.24 million at an average price of $61.92, increasing its ownership by 1.43% to 2.57 million shares. The shareholder also made two additional purchases totaling about $9.1 million in late July.
• Goosehead shares rose 4.4% to $68.56, while the company’s latest quarterly results exceeded expectations on earnings per share but fell short on revenue. Quarterly revenue increased 20.6% year over year to $95.63 million.
• Analyst sentiment is mixed, with seven Buy ratings, five Holds, and two Sells; the overall consensus rating is Hold, with an average price target of $68.45.

Goosehead Insurance (NASDAQ:GSHD - Get Free Report) major shareholder Durable Capital Partners Lp acquired 36,256 shares of the stock in a transaction dated Friday, July 31st. The stock was bought at an average price of $61.92 per share, with a total value of $2,244,971.52. Following the purchase, the insider directly owned 2,570,260 shares in the company, valued at $159,150,499.20. This represents a 1.43% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Large shareholders that own at least 10% of a company's stock 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.
• On Friday, July 24th, Durable Capital Partners Lp acquired 113,646 shares of Goosehead Insurance stock. The stock was purchased at an average cost of $58.34 per share, with a total value of $6,630,107.64.

Goosehead Insurance Trading Up 4.4%

Shares of GSHD traded up $2.91 during trading hours on Tuesday, reaching $68.56. The stock had a trading volume of 635,751 shares, compared to its average volume of 515,448. The firm has a 50-day simple moving average of $47.36 and a 200 day simple moving average of $48.59. Goosehead Insurance has a 12 month low of $33.68 and a 12 month high of $90.79. The company has a market capitalization of $2.44 billion, a price-to-earnings ratio of 50.04, a P/E/G ratio of 2.22 and a beta of 1.38.

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

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Phocas Financial Corp. bought a new stake in shares of Goosehead Insurance in the fourth quarter worth about $3,669,000. Langdon Equity Partners bought a new position in Goosehead Insurance during the fourth quarter valued at approximately $41,892,000. M&T Bank Corp grew its holdings in Goosehead Insurance by 1,075.4% during the 4th quarter. M&T Bank Corp now owns 115,834 shares of the company's stock valued at $8,531,000 after buying an additional 105,979 shares in the last quarter. UBS Group AG grew its holdings in Goosehead Insurance by 26.7% during the 4th quarter. UBS Group AG now owns 156,019 shares of the company's stock valued at $11,491,000 after buying an additional 32,920 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its stake in Goosehead Insurance by 43,893.9% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 65,111 shares of the company's stock worth $4,795,000 after acquiring an additional 64,963 shares during the last quarter.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on GSHD shares. Citizens Jmp lowered their price objective on Goosehead Insurance from $125.00 to $100.00 and set a "market outperform" rating on the stock in a research report on Monday, April 13th. Cantor Fitzgerald restated an "overweight" rating and issued a $76.00 target price on shares of Goosehead Insurance in a research note on Thursday, July 23rd. Keefe, Bruyette & Woods dropped their price target on Goosehead Insurance from $80.00 to $72.00 and set an "outperform" rating for the company in a research report on Thursday, July 23rd. UBS Group boosted their price objective on Goosehead Insurance from $70.00 to $72.00 and gave the stock a "buy" rating in a report on Monday, July 27th. Finally, Piper Sandler upped their price objective on shares of 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 issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $68.45.

About Goosehead Insurance

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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