Envestnet Asset Management Inc. Cuts Holdings in Goosehead Insurance (NASDAQ:GSHD)

Envestnet Asset Management Inc. lowered its holdings in Goosehead Insurance (NASDAQ:GSHD) by 13.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 103,347 shares of the company’s stock after selling 16,643 shares during the quarter. Envestnet Asset Management Inc. owned 0.28% of Goosehead Insurance worth $12,201,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Bessemer Group Inc. increased its position in Goosehead Insurance by 192.9% during the first quarter. Bessemer Group Inc. now owns 290 shares of the company’s stock valued at $34,000 after acquiring an additional 191 shares during the last quarter. KBC Group NV increased its position in shares of Goosehead Insurance by 20.7% during the 1st quarter. KBC Group NV now owns 1,101 shares of the company’s stock valued at $130,000 after purchasing an additional 189 shares during the last quarter. New Age Alpha Advisors LLC bought a new position in shares of Goosehead Insurance in the 4th quarter worth approximately $148,000. Systematic Alpha Investments LLC bought a new position in shares of Goosehead Insurance in the 4th quarter worth approximately $214,000. Finally, Cibc World Markets Corp purchased a new position in shares of Goosehead Insurance in the fourth quarter worth approximately $225,000.

Insider Transactions at Goosehead Insurance

In related news, major shareholder Lindy Langston sold 2,853 shares of Goosehead Insurance stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $110.16, for a total value of $314,286.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder & Robyn Jones Descendants Mark sold 21,385 shares of the company’s stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $104.76, for a total transaction of $2,240,292.60. Following the transaction, the insider owned 132,349 shares of the company’s stock, valued at $13,864,881.24. This represents a 13.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 118,966 shares of company stock valued at $12,407,821 in the last 90 days. 48.35% of the stock is currently owned by company insiders.

Goosehead Insurance Price Performance

Shares of GSHD stock opened at $102.09 on Friday. The company has a market cap of $3.83 billion, a P/E ratio of 85.79, a PEG ratio of 7.23 and a beta of 1.42. The company has a debt-to-equity ratio of 2.10, a current ratio of 2.79 and a quick ratio of 2.79. The stock’s 50-day moving average is $104.78 and its 200 day moving average is $108.13. Goosehead Insurance has a 1-year low of $62.68 and a 1-year high of $130.39.

Goosehead Insurance (NASDAQ:GSHD) last posted its quarterly earnings data on Wednesday, April 23rd. The company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.02. Goosehead Insurance had a net margin of 9.51% and a negative return on equity of 99.91%. The firm had revenue of $75.58 million for the quarter, compared to the consensus estimate of $78.59 million. During the same quarter in the prior year, the company posted $0.28 earnings per share. The company’s revenue for the quarter was up 17.2% compared to the same quarter last year. Research analysts predict that Goosehead Insurance will post 0.83 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

GSHD has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods upped their price target on shares of Goosehead Insurance from $125.00 to $130.00 and gave the stock an “outperform” rating in a research report on Thursday, April 24th. JPMorgan Chase & Co. dropped their price objective on Goosehead Insurance from $100.00 to $98.00 and set a “neutral” rating for the company in a research note on Thursday, April 24th. Piper Sandler decreased their target price on Goosehead Insurance from $132.00 to $122.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 9th. UBS Group lowered their price target on Goosehead Insurance from $145.00 to $140.00 and set a “buy” rating on the stock in a report on Monday, April 28th. Finally, BMO Capital Markets cut their price objective on shares of Goosehead Insurance from $148.00 to $142.00 and set a “market perform” rating for the company in a report on Monday, April 28th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Goosehead Insurance has an average rating of “Hold” and a consensus target price of $115.40.

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.