Envestnet Asset Management Inc. Sells 9,679 Shares of Goosehead Insurance, Inc (NASDAQ:GSHD)

Envestnet Asset Management Inc. decreased its stake in shares of Goosehead Insurance, Inc (NASDAQ:GSHD – Get Rating) by 19.8% in the fourth quarter, Holdings Channel.com reports. The fund owned 39,239 shares of the company’s stock after selling 9,679 shares during the period. Envestnet Asset Management Inc.’s holdings in Goosehead Insurance were worth $1,347,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Spire Wealth Management grew its position in shares of Goosehead Insurance by 178.3% during the third quarter. Spire Wealth Management now owns 704 shares of the company’s stock valued at $25,000 after purchasing an additional 451 shares in the last quarter. Harbor Investment Advisory LLC increased its stake in Goosehead Insurance by 58.6% in the 4th quarter. Harbor Investment Advisory LLC now owns 1,548 shares of the company’s stock worth $53,000 after acquiring an additional 572 shares during the last quarter. Group One Trading L.P. bought a new stake in Goosehead Insurance in the 1st quarter worth approximately $59,000. Quantbot Technologies LP bought a new position in shares of Goosehead Insurance during the 2nd quarter valued at approximately $65,000. Finally, UBS Group AG grew its holdings in shares of Goosehead Insurance by 2,303.5% in the third quarter. UBS Group AG now owns 2,067 shares of the company’s stock valued at $74,000 after purchasing an additional 1,981 shares in the last quarter. 99.96% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on GSHD shares. Piper Sandler increased their price objective on shares of Goosehead Insurance from $59.00 to $64.00 in a research report on Thursday, April 27th. Truist Financial lifted their price target on Goosehead Insurance from $40.00 to $50.00 in a research report on Thursday, April 27th. Credit Suisse Group restated an “outperform” rating and set a $72.00 price objective on shares of Goosehead Insurance in a research report on Wednesday, March 1st. JPMorgan Chase & Co. dropped their target price on Goosehead Insurance from $50.00 to $45.00 and set a “neutral” rating for the company in a report on Thursday, February 23rd. Finally, Royal Bank of Canada decreased their price target on Goosehead Insurance from $75.00 to $66.00 and set an “outperform” rating on the stock in a report on Thursday, February 23rd. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Goosehead Insurance currently has an average rating of “Moderate Buy” and a consensus price target of $62.29.

Goosehead Insurance Stock Down 2.6 %

Goosehead Insurance stock opened at $56.14 on Wednesday. Goosehead Insurance, Inc has a 52 week low of $29.23 and a 52 week high of $71.04. The business’s 50-day moving average price is $54.21 and its 200 day moving average price is $45.26. The firm has a market cap of $2.11 billion, a price-to-earnings ratio of 431.88, a price-to-earnings-growth ratio of 3.47 and a beta of 1.20.

Goosehead Insurance (NASDAQ:GSHD – Get Rating) last posted its quarterly earnings results on Wednesday, April 26th. The company reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.13. The firm had revenue of $57.96 million for the quarter, compared to analyst estimates of $53.73 million. Goosehead Insurance had a net margin of 1.21% and a negative return on equity of 6.68%. Goosehead Insurance’s quarterly revenue was up 40.4% on a year-over-year basis. During the same period in the previous year, the business posted ($0.11) earnings per share. Equities analysts expect that Goosehead Insurance, Inc will post 0.38 EPS for the current year.

Insider Activity

In related news, Director Thomas Mcconnon acquired 84,410 shares of Goosehead Insurance stock in a transaction that occurred on Monday, February 27th. The shares were purchased at an average price of $44.58 per share, for a total transaction of $3,762,997.80. Following the completion of the transaction, the director now owns 441,093 shares in the company, valued at approximately $19,663,925.94. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Thomas Mcconnon bought 84,410 shares of the business’s stock in a transaction on Monday, February 27th. The stock was acquired at an average cost of $44.58 per share, with a total value of $3,762,997.80. Following the purchase, the director now directly owns 441,093 shares of the company’s stock, valued at $19,663,925.94. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder Serena Jones sold 23,010 shares of the business’s stock in a transaction dated Wednesday, May 17th. The shares were sold at an average price of $58.27, for a total transaction of $1,340,792.70. The disclosure for this sale can be found here. Insiders sold 316,591 shares of company stock worth $17,432,397 over the last ninety days. Corporate insiders own 42.50% of the company’s stock.

Goosehead Insurance Profile

(Get Rating)

Goosehead Insurance, Inc is a holding company, which engages in the provision of independent personal lines of insurance. It operates through the Corporate Channel and Franchise Channel segments. The Corporate Channel segment consists of company-owned and financed operations with employees who are hired, trained, and managed by the company.