JPMorgan Chase & Co. Issues Positive Forecast for Goosehead Insurance (NASDAQ:GSHD) Stock Price

Goosehead Insurance (NASDAQ:GSHD - Get Free Report) had its price objective raised by investment analysts at JPMorgan Chase & Co. from $90.00 to $100.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s target price would indicate a potential downside of 8.23% from the stock's previous close.

Several other research analysts also recently issued reports on GSHD. Keefe, Bruyette & Woods lifted their price target on Goosehead Insurance from $110.00 to $127.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 26th. Bank of America upped their price target on shares of Goosehead Insurance from $39.00 to $43.00 and gave the company an "underperform" rating in a report on Tuesday, February 25th. UBS Group boosted their price target on Goosehead Insurance from $120.00 to $145.00 and gave the stock a "buy" rating in a report on Friday, March 7th. Finally, Truist Financial reaffirmed a "hold" rating and set a $90.00 price objective (up previously from $80.00) on shares of Goosehead Insurance in a research note on Tuesday, February 25th. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $110.10.

Remove Ads

Goosehead Insurance Price Performance

NASDAQ GSHD traded down $2.06 during mid-day trading on Tuesday, hitting $108.97. The stock had a trading volume of 251,495 shares, compared to its average volume of 279,031. The company has a 50 day simple moving average of $114.94 and a 200 day simple moving average of $110.30. The company has a market cap of $4.06 billion, a price-to-earnings ratio of 151.35, a P/E/G ratio of 5.17 and a beta of 1.48. Goosehead Insurance 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.

Insider Transactions at Goosehead Insurance

In other news, major shareholder & Robyn Jones Descendants Mark sold 500 shares of the business's stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $120.12, for a total transaction of $60,060.00. Following the completion of the sale, the insider now owns 132,349 shares in the company, valued at approximately $15,897,761.88. The trade was a 0.38 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Mark E. Jr. Jones purchased 1,010 shares of the business's stock in a transaction that occurred on Friday, February 28th. The stock was acquired at an average price of $118.02 per share, for a total transaction of $119,200.20. Following the acquisition, the chief financial officer now directly owns 2,342 shares of the company's stock, valued at $276,402.84. This trade represents a 75.83 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold a total of 308,812 shares of company stock worth $37,392,258 in the last three months. Company insiders own 37.76% of the company's stock.

Hedge Funds Weigh In On Goosehead Insurance

Hedge funds and other institutional investors have recently made changes to their positions in the business. FMR LLC raised its position in Goosehead Insurance by 54.8% in the third quarter. FMR LLC now owns 1,446 shares of the company's stock valued at $129,000 after purchasing an additional 512 shares during the period. Verition Fund Management LLC acquired a new position in Goosehead Insurance during the 3rd quarter worth approximately $616,000. HighTower Advisors LLC boosted its holdings in Goosehead Insurance by 5.8% in the 3rd quarter. HighTower Advisors LLC now owns 5,040 shares of the company's stock worth $448,000 after acquiring an additional 276 shares during the period. Janus Henderson Group PLC grew its position in Goosehead Insurance by 4.0% in the third quarter. Janus Henderson Group PLC now owns 21,970 shares of the company's stock valued at $1,964,000 after acquiring an additional 844 shares in the last quarter. Finally, State Street Corp raised its stake in shares of Goosehead Insurance by 21.2% during the third quarter. State Street Corp now owns 1,059,298 shares of the company's stock valued at $94,595,000 after purchasing an additional 185,037 shares during the period.

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.