Goosehead Insurance (NASDAQ:GSHD) Share Price Breaks Below 200-Day Moving Average – Time to Sell?

Goosehead Insurance (NASDAQ:GSHD)’s stock price passed below its two hundred day moving average during trading on Tuesday. The stock has a two hundred day moving average of $50.41 and traded as low as $44.42. Goosehead Insurance shares last traded at $46.13, with a volume of 1,057,457 shares traded.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on GSHD. UBS Group raised their price objective on shares of Goosehead Insurance from $70.00 to $72.00 and gave the company a “buy” rating in a research note on Monday, July 27th. BMO Capital Markets reaffirmed a “market perform” rating on shares of Goosehead Insurance in a research report on Wednesday, October 14th. JPMorgan Chase & Co. cut their price target on shares of Goosehead Insurance from $68.00 to $60.00 and set a “neutral” rating for the company in a report on Thursday, October 1st. Texas Capital raised Goosehead Insurance from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, September 29th. Finally, Weiss Ratings downgraded shares of Goosehead Insurance from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, September 18th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Goosehead Insurance has a consensus rating of “Hold” and an average target price of $65.08.

Goosehead Insurance Stock Performance

The company’s 50 day simple moving average is $50.25 and its 200 day simple moving average is $50.30. The stock has a market cap of $1.62 billion, a PE ratio of 33.33, a price-to-earnings-growth ratio of 1.74 and a beta of 1.51.

Insiders Place Their Bets

In other Goosehead Insurance news, major shareholder Durable Capital Partners Lp acquired 150,000 shares of the stock in a transaction dated Tuesday, September 22nd. The stock was acquired at an average price of $47.32 per share, with a total value of $7,098,000.00. Following the completion of the purchase, the insider owned 2,720,260 shares in the company, valued at $128,722,703.20. This trade represents a 5.84% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Adrienne Kebodeaux sold 7,000 shares of Goosehead Insurance stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $70.00, for a total transaction of $490,000.00. Following the completion of the transaction, the insider owned 273,027 shares in the company, valued at approximately $19,111,890. This represents a 2.50% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 38.07% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of GSHD. Integrity Alliance LLC. bought a new stake in shares of Goosehead Insurance during the third quarter valued at about $1,075,000. Principal Financial Group Inc. increased its stake in shares of Goosehead Insurance by 23.2% in the first quarter. Principal Financial Group Inc. now owns 219,745 shares of the company’s stock worth $9,374,000 after acquiring an additional 41,334 shares during the last quarter. Corient Private Wealth LP grew its position in Goosehead Insurance by 123.7% in the second quarter. Corient Private Wealth LP now owns 56,935 shares of the company’s stock worth $2,761,000 after acquiring an additional 31,483 shares in the last quarter. Janus Henderson Group PLC increased its position in Goosehead Insurance by 3,485.1% during the first quarter. Janus Henderson Group PLC now owns 386,906 shares of the company’s stock worth $16,506,000 after buying an additional 376,114 shares during the last quarter. Finally, Bank of America Corp DE raised its holdings in Goosehead Insurance by 28.2% in the 1st quarter. Bank of America Corp DE now owns 329,333 shares of the company’s stock worth $14,049,000 after acquiring an additional 72,527 shares during the period.

Goosehead Insurance Company Profile

Goosehead Insurance is an independent insurance agency that distributes personal insurance products through a network of company-operated and franchised locations. The company works with multiple insurance carriers, helping customers compare coverage options and obtain policies. Its offerings include homeowners, automobile, flood, umbrella and other personal insurance products. Goosehead also provides technology and support services to its agents, including tools for quoting, policy management and customer service.