Goldman Sachs (GS) Releases Q1 2026 Earnings: Revenue and EPS Up, Large Operating Cash Outflow

Goldman Sachs Group Inc. (GS) reported first-quarter 2026 results showing revenue growth and stronger profitability across the income statement.

$17.2 billion total revenues, up 14.4% year over year.

$9.3 billion gross profit, up 11.6% year over year.

$6.49 billion operating profit, up 14.9% year over year.

$5.4 billion net income attributable to common shareholders, up 17.9% year over year.

Earnings per share of $17.55, up 24.3% year over year.

The company’s cash flow and balance sheet show large operating outflows alongside sizable liquidity and higher leverage compared with a year ago.

Cash from operating activities: -$31.9 billion, down 14.4% year over year.

Purchases of property, plant and equipment: -$565 million, up 13.2% year over year.

Cash and cash equivalents: $179 billion, up 6.9% year over year.

Total liabilities: $1.94 trillion, up 18.1% year over year.

Note: This financials data is sourced from a third-party provider and has not been independently verified by Quiver.

Goldman Sachs Group Inc. Insider Trading Activity

Goldman Sachs Group Inc. insiders have traded $GS stock on the open market 137 times in the past 6 months. Of those trades, 0 have been purchases and 137 have been sales.

Here’s a breakdown of recent trading of $GS stock by insiders over the last 6 months:

DAVID A VINIAR has made 0 purchases and 37 sales selling 68,186 shares for an estimated $65,820,535.
JOHN F.W. ROGERS (Executive Vice President) has made 0 purchases and 29 sales selling 15,855 shares for an estimated $15,210,753.
DENIS P. COLEMAN (Chief Financial Officer) has made 0 purchases and 12 sales selling 11,623 shares for an estimated $10,943,891.
KATHRYN H. RUEMMLER (Chief Legal Officer, GC) has made 0 purchases and 11 sales selling 9,589 shares for an estimated $8,893,930.
SHEARA J FREDMAN (Chief Accounting Officer) has made 0 purchases and 18 sales selling 4,863 shares for an estimated $4,492,188.
CAREY HALIO (Global Treasurer) has made 0 purchases and 19 sales selling 4,603 shares for an estimated $4,256,247.
ALEX S GOLTEN (CHIEF RISK OFFICER) has made 0 purchases and 9 sales selling 4,523 shares for an estimated $4,212,721.
DAVID M SOLOMON (Chairman of the Board and CEO) has made 0 purchases and 2 sales selling 272 shares for an estimated $255,387.

To track insider transactions, check out Quiver Quantitative's insider trading dashboard. You can access data on insider stock transactions through the Quiver Quantitative API.

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Goldman Sachs Group Inc. Hedge Fund Activity

We have seen 1,319 institutional investors add shares of Goldman Sachs Group Inc. stock to their portfolio, and 1,260 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

UBS AM, A DISTINCT BUSINESS UNIT OF UBS ASSET MANAGEMENT AMERICAS LLC removed 7,205,570 shares (-77.6%) from their portfolio in Q4 2025, for an estimated $6,333,696,030
CORIENT PRIVATE WEALTH LLC added 2,448,767 shares (+1657.7%) to their portfolio in Q4 2025, for an estimated $2,152,466,193
INTERNATIONAL ASSETS INVESTMENT MANAGEMENT, LLC added 2,393,552 shares (+inf%) to their portfolio in Q1 2026, for an estimated $2,024,921,056
JPMORGAN CHASE & CO added 876,549 shares (+12.5%) to their portfolio in Q4 2025, for an estimated $770,486,571
DODGE & COX removed 498,951 shares (-22.6%) from their portfolio in Q4 2025, for an estimated $438,577,929
MANUFACTURERS LIFE INSURANCE COMPANY, THE removed 488,088 shares (-60.9%) from their portfolio in Q4 2025, for an estimated $429,029,352
FMR LLC added 479,967 shares (+13.4%) to their portfolio in Q4 2025, for an estimated $421,890,993

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API.

Goldman Sachs Group Inc. Congressional Stock Trading

Members of Congress have traded $GS stock 13 times in the past 6 months. Of those trades, 3 have been purchases and 10 have been sales.

Here’s a breakdown of recent trading of $GS stock by members of Congress over the last 6 months:

REPRESENTATIVE MARIA ELVIRA SALAZAR has traded it 2 times. They made 2 purchases worth up to $100,000 on 03/19 and 0 sales.
SENATOR MARKWAYNE MULLIN has traded it 4 times. They made 1 purchase worth up to $50,000 on 12/29 and 3 sales worth up to $150,000 on 02/04, 12/18.
SENATOR DAVID MCCORMICK sold up to $5,000,000 on 01/23.
REPRESENTATIVE JULIE JOHNSON has traded it 2 times. They made 0 purchases and 2 sales worth up to $30,000 on 12/18, 11/13.
REPRESENTATIVE STEVE COHEN has traded it 2 times. They made 0 purchases and 2 sales worth up to $100,000 on 12/17.
SENATOR TED CRUZ sold up to $250,000 on 11/11.
REPRESENTATIVE LISA C. MCCLAIN sold up to $15,000 on 10/31.

To track congressional stock trading, check out Quiver Quantitative's congressional trading dashboard. You can access data on congressional stock trades through the Quiver Quantitative API.

Goldman Sachs Group Inc. Analyst Ratings

Wall Street analysts have issued reports on $GS in the last several months. We have seen 1 firms issue buy ratings on the stock, and 0 firms issue sell ratings.

Here are some recent analyst ratings:

Barclays issued a "Overweight" rating on 01/05/2026

To track analyst ratings and price targets for Goldman Sachs Group Inc., check out Quiver Quantitative's $GS forecast page.

Goldman Sachs Group Inc. Price Targets

Multiple analysts have issued price targets for $GS recently. We have seen 10 analysts offer price targets for $GS in the last 6 months, with a median target of $1000.0.

Here are some recent targets:

Ebrahim Poonawala from B of A Securities set a target price of $1050.0 on 04/14/2026
Mike Mayo from Wells Fargo set a target price of $1000.0 on 04/14/2026
Erika Najarian from UBS set a target price of $930.0 on 04/13/2026
Daniel Fannon from Jefferies set a target price of $1049.0 on 04/06/2026
Glenn Schorr from Evercore ISI Group set a target price of $950.0 on 04/06/2026
Kian Abouhossein from JP Morgan set a target price of $826.0 on 03/10/2026
Gerard Cassidy from RBC Capital set a target price of $1030.0 on 01/20/2026