Geode Capital Management LLC Trims Stake in Goosehead Insurance, Inc (NASDAQ:GSHD)

Geode Capital Management LLC trimmed its holdings in Goosehead Insurance, Inc (NASDAQ:GSHD) by 14.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 549,542 shares of the company’s stock after selling 93,972 shares during the quarter. Geode Capital Management LLC owned about 1.48% of Goosehead Insurance worth $58,936,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of GSHD. R Squared Ltd bought a new stake in shares of Goosehead Insurance in the 4th quarter worth approximately $39,000. Wilmington Savings Fund Society FSB bought a new stake in Goosehead Insurance in the third quarter worth $63,000. Kestra Investment Management LLC purchased a new stake in shares of Goosehead Insurance in the fourth quarter worth $63,000. Smartleaf Asset Management LLC increased its holdings in shares of Goosehead Insurance by 462.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 619 shares of the company’s stock valued at $64,000 after acquiring an additional 509 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in shares of Goosehead Insurance by 73.6% in the 4th quarter. GAMMA Investing LLC now owns 606 shares of the company’s stock worth $65,000 after purchasing an additional 257 shares during the last quarter.

Goosehead Insurance Trading Down 1.9 %

Goosehead Insurance stock opened at $108.97 on Friday. The business has a 50-day simple moving average of $114.94 and a two-hundred day simple moving average of $110.30. Goosehead Insurance, Inc has a 52-week low of $50.47 and a 52-week high of $130.39. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 37.70. The company has a market cap of $4.06 billion, a P/E ratio of 151.35, a P/E/G ratio of 5.17 and a beta of 1.48.

Wall Street Analyst Weigh In

Several brokerages recently commented on GSHD. Piper Sandler cut their price objective on shares of Goosehead Insurance from $132.00 to $122.00 and set an “overweight” rating on the stock in a research report on Wednesday. Truist Financial reissued a “hold” rating and set a $90.00 price target (up previously from $80.00) on shares of Goosehead Insurance in a research report on Tuesday, February 25th. UBS Group upped their price objective on Goosehead Insurance from $120.00 to $145.00 and gave the company a “buy” rating in a research report on Friday, March 7th. JPMorgan Chase & Co. lifted their target price on Goosehead Insurance from $90.00 to $100.00 and gave the stock a “neutral” rating in a report on Tuesday, April 8th. Finally, Bank of America upped their price target on Goosehead Insurance from $39.00 to $43.00 and gave the company an “underperform” rating in a report on Tuesday, February 25th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $110.10.

Insider Activity at Goosehead Insurance

In other news, Director Thomas Mcconnon sold 205,000 shares of the company’s stock in a transaction on Friday, February 28th. The stock was sold at an average price of $121.35, for a total value of $24,876,750.00. Following the completion of the sale, the director now directly owns 339,008 shares in the company, valued at $41,138,620.80. This represents a 37.68 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Chairman Mark Evan Jones sold 40,000 shares of the business’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $119.04, for a total value of $4,761,600.00. Following the sale, the chairman now directly owns 38,951 shares of the company’s stock, valued at $4,636,727.04. This represents a 50.66 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 308,812 shares of company stock worth $37,392,258. 37.76% of the stock is owned by company insiders.

Goosehead Insurance 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.