Piper Sandler Raises Goosehead Insurance (NASDAQ:GSHD) Price Target to $88.00

Goosehead Insurance (NASDAQ:GSHD) had its target price lifted by investment analysts at Piper Sandler from $85.00 to $88.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Piper Sandler’s target price would suggest a potential upside of 28.98% from the stock’s current price.

Other analysts have also issued research reports about the company. Truist Financial dropped their price objective on Goosehead Insurance from $75.00 to $70.00 and set a “hold” rating for the company in a research note on Thursday. TD Cowen began coverage on Goosehead Insurance in a research note on Wednesday, January 10th. They set an “outperform” rating and a $105.00 price objective for the company. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Goosehead Insurance has an average rating of “Moderate Buy” and an average target price of $82.43.

Goosehead Insurance Stock Performance

Shares of NASDAQ:GSHD traded up $3.24 during midday trading on Thursday, reaching $68.23. The company had a trading volume of 192,581 shares, compared to its average volume of 265,138. The company’s 50 day moving average price is $77.96 and its 200 day moving average price is $74.50. The company has a current ratio of 1.82, a quick ratio of 1.82 and a debt-to-equity ratio of 4.02. The stock has a market cap of $2.59 billion, a P/E ratio of 119.96, a P/E/G ratio of 4.74 and a beta of 1.29. Goosehead Insurance has a 52-week low of $49.42 and a 52-week high of $92.76.

Goosehead Insurance (NASDAQ:GSHD) last announced its quarterly earnings results on Wednesday, February 21st. The company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.01). Goosehead Insurance had a net margin of 5.41% and a negative return on equity of 392.58%. The company had revenue of $63.01 million for the quarter, compared to the consensus estimate of $68.18 million. As a group, sell-side analysts anticipate that Goosehead Insurance will post 0.81 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder & Robyn Jones Descendants Mark sold 36,337 shares of Goosehead Insurance stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $74.92, for a total value of $2,722,368.04. Following the completion of the transaction, the insider now owns 132,349 shares in the company, valued at approximately $9,915,587.08. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Goosehead Insurance news, CFO Mark E. Jr. Jones acquired 1,332 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The stock was bought at an average price of $74.86 per share, for a total transaction of $99,713.52. Following the acquisition, the chief financial officer now directly owns 1,332 shares in the company, valued at $99,713.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder & Robyn Jones Descendants Mark sold 36,337 shares of the company’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $74.92, for a total value of $2,722,368.04. Following the completion of the sale, the insider now owns 132,349 shares of the company’s stock, valued at $9,915,587.08. The disclosure for this sale can be found here. In the last quarter, insiders have bought 7,582 shares of company stock valued at $561,249 and have sold 68,617 shares valued at $5,291,137. Corporate insiders own 48.35% of the company’s stock.

Institutional Investors Weigh In On Goosehead Insurance

Hedge funds have recently made changes to their positions in the company. Kayne Anderson Rudnick Investment Management LLC raised its position in shares of Goosehead Insurance by 7.9% in 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 in the last quarter. Vanguard Group Inc. raised its position in shares of Goosehead Insurance by 1.6% in 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 in the last quarter. BlackRock Inc. raised its position in shares of Goosehead Insurance by 9.2% in 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 in the last quarter. Wasatch Advisors Inc. raised its position in shares of Goosehead Insurance by 30.7% in 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 in the last quarter. Finally, Durable Capital Partners LP raised its position in shares of Goosehead Insurance by 24.4% in 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 in the last quarter.

Goosehead Insurance Company 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.