Goosehead Insurance (NASDAQ:GSHD) Given New $88.00 Price Target at Piper Sandler

Goosehead Insurance (NASDAQ:GSHD - Get Free Report) had its target price increased by equities research analysts at Piper Sandler from $85.00 to $88.00 in a research report issued on Thursday, Benzinga reports. The firm currently has an "overweight" rating on the stock. Piper Sandler's price objective would suggest a potential upside of 32.09% from the stock's previous close.

Other equities research analysts have also recently issued research reports about the stock. Truist Financial cut their price objective on shares of Goosehead Insurance from $75.00 to $70.00 and set a "hold" rating on the stock in a report on Thursday. TD Cowen started coverage on shares of Goosehead Insurance in a report on Wednesday, January 10th. They issued an "outperform" rating and a $105.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $82.43.

Goosehead Insurance Trading Up 2.5 %

Shares of NASDAQ GSHD traded up $1.63 during midday trading on Thursday, hitting $66.62. 578,308 shares of the company traded hands, compared to its average volume of 271,736. Goosehead Insurance has a 12-month low of $49.42 and a 12-month high of $92.76. The company has a debt-to-equity ratio of 4.02, a quick ratio of 1.82 and a current ratio of 1.82. The stock has a 50-day moving average price of $77.80 and a 200 day moving average price of $74.44. The firm has a market cap of $2.53 billion, a P/E ratio of 116.88, a P/E/G ratio of 4.74 and a beta of 1.29.

Goosehead Insurance (NASDAQ:GSHD - Get Free Report) last announced its quarterly earnings data on Wednesday, February 21st. The company reported $0.14 earnings per share for the quarter, missing analysts' consensus estimates of $0.15 by ($0.01). The business had revenue of $63.01 million during the quarter, compared to analysts' expectations of $68.18 million. Goosehead Insurance had a negative return on equity of 392.58% and a net margin of 5.41%. As a group, analysts expect that Goosehead Insurance will post 0.81 earnings per share for the current year.

Insider Transactions at Goosehead Insurance

In other news, General Counsel John Terry O'connor bought 1,000 shares of the company's stock in a transaction dated Monday, February 26th. The shares were purchased at an average price of $73.46 per share, for a total transaction of $73,460.00. Following the completion of the purchase, the general counsel now owns 1,000 shares in the company, valued at approximately $73,460. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, General Counsel John Terry O'connor acquired 1,000 shares of the stock in a transaction that occurred on Monday, February 26th. The shares were bought at an average price of $73.46 per share, for a total transaction of $73,460.00. Following the completion of the transaction, the general counsel now directly owns 1,000 shares in the company, valued at $73,460. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder & Robyn Jones Descendants Mark sold 3,934 shares of the stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $75.67, for a total transaction of $297,685.78. Following the transaction, the insider now owns 132,349 shares in the company, valued at approximately $10,014,848.83. The disclosure for this sale can be found here. Over the last 90 days, insiders have bought 7,582 shares of company stock worth $561,249 and have sold 68,617 shares worth $5,291,137. Insiders own 48.35% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Kayne Anderson Rudnick Investment Management LLC boosted its stake in shares of Goosehead Insurance by 7.9% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,897,246 shares of the company's stock worth $151,236,000 after acquiring an additional 212,130 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Goosehead Insurance by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 2,369,254 shares of the company's stock worth $179,589,000 after acquiring an additional 36,676 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Goosehead Insurance by 9.2% during the 2nd quarter. BlackRock Inc. now owns 1,569,036 shares of the company's stock worth $98,677,000 after acquiring an additional 131,733 shares during the last quarter. Wasatch Advisors Inc. boosted its stake in shares of Goosehead Insurance by 30.7% during the 1st quarter. Wasatch Advisors Inc. now owns 1,496,815 shares of the company's stock worth $117,605,000 after acquiring an additional 351,769 shares during the last quarter. Finally, Durable Capital Partners LP boosted its stake in shares of Goosehead Insurance by 24.4% during the 1st quarter. Durable Capital Partners LP now owns 932,444 shares of the company's stock worth $73,262,000 after acquiring an additional 182,952 shares during the last quarter.

About Goosehead Insurance

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.