Goosehead Insurance (NASDAQ:GSHD) Major Shareholder Sells $490,000.00 in Stock

Key Points

• Major shareholder Adrienne Kebodeaux sold 7,000 Goosehead Insurance shares at $70 each for $490,000, reducing her stake by 2.5% to 273,027 shares. She also sold 5,000 shares in July for $326,000.
• Goosehead shares traded at $73, well above their 50-day and 200-day moving averages, but remain below the 52-week high of $89.24. The stock has a $2.59 billion market capitalization and a P/E ratio of 53.28.
• The company exceeded quarterly EPS expectations, reporting $0.64 versus the $0.47 consensus, while revenue rose 20.6% year over year. Analysts’ consensus rating is Hold, with an average price target of $68.45.

Goosehead Insurance (NASDAQ:GSHD - Get Free Report) major shareholder Adrienne Kebodeaux sold 7,000 shares of Goosehead Insurance stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $70.00, for a total transaction of $490,000.00. Following the completion of the sale, the insider owned 273,027 shares of the company's stock, valued at $19,111,890. This trade represents a 2.50% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own 10% or more of a company's stock are required to disclose their transactions with the SEC.

Adrienne Kebodeaux also recently made the following trade(s):

• On Tuesday, July 28th, Adrienne Kebodeaux sold 5,000 shares of Goosehead Insurance stock. The stock was sold at an average price of $65.20, for a total transaction of $326,000.00.

Goosehead Insurance Stock Performance

Shares of NASDAQ GSHD traded up $0.48 during trading hours on Monday, hitting $73.00. 334,117 shares of the stock were exchanged, compared to its average volume of 499,443. The company's fifty day simple moving average is $55.84 and its two-hundred day simple moving average is $48.56. The company has a market cap of $2.59 billion, a PE ratio of 53.28, a price-to-earnings-growth ratio of 2.60 and a beta of 1.38. Goosehead Insurance has a 1-year low of $33.68 and a 1-year high of $89.24.

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

Analyst Ratings Changes

Several equities analysts recently commented on the stock. UBS Group increased their price objective on shares of Goosehead Insurance from $70.00 to $72.00 and gave the company a "buy" rating in a research note on Monday, July 27th. Keefe, Bruyette & Woods lowered their price target on shares of Goosehead Insurance from $80.00 to $72.00 and set an "outperform" rating for the company in a report on Thursday, July 23rd. Piper Sandler raised their price objective on Goosehead Insurance from $52.00 to $72.00 and gave the company an "overweight" rating in a report on Wednesday, July 15th. Royal Bank Of Canada upped their target price on Goosehead Insurance from $55.00 to $58.00 and gave the stock a "sector perform" rating in a report on Thursday, July 23rd. Finally, Weiss Ratings raised Goosehead Insurance from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Friday. Seven analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $68.45.

Institutional Investors Weigh In On Goosehead Insurance

A number of institutional investors have recently made changes to their positions in the stock. MassMutual Private Wealth & Trust FSB lifted its position in shares of Goosehead Insurance by 484.1% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 514 shares of the company's stock worth $25,000 after purchasing an additional 426 shares during the period. EverSource Wealth Advisors LLC boosted its position in shares of Goosehead Insurance by 480.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 325 shares of the company's stock valued at $34,000 after purchasing an additional 269 shares in the last quarter. Versant Capital Management Inc grew its stake in Goosehead Insurance by 471.9% during the second quarter. Versant Capital Management Inc now owns 772 shares of the company's stock worth $37,000 after purchasing an additional 637 shares during the period. Kestra Advisory Services LLC acquired a new stake in Goosehead Insurance during the fourth quarter worth approximately $41,000. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in Goosehead Insurance by 802.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 442 shares of the company's stock valued at $47,000 after buying an additional 393 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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