Porch Group, Inc. (NASDAQ:PRCH) CFO Sells $336,900.00 in Stock

Porch Group, Inc. (NASDAQ:PRCH) CFO Shawn Tabak sold 30,000 shares of the business’s stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $11.23, for a total value of $336,900.00. Following the transaction, the chief financial officer now owns 172,671 shares in the company, valued at approximately $1,939,095.33. This trade represents a 14.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Shawn Tabak also recently made the following trade(s):

• On Tuesday, April 15th, Shawn Tabak sold 10,000 shares of Porch Group stock. The stock was sold at an average price of $5.34, for a total value of $53,400.00.

Porch Group Stock Performance

Shares of PRCH opened at $10.62 on Monday. The business’s 50-day moving average is $8.22 and its two-hundred day moving average is $6.36. The company has a market capitalization of $1.29 billion, a P/E ratio of -15.17 and a beta of 2.63. Porch Group, Inc. has a fifty-two week low of $1.05 and a fifty-two week high of $12.20.

Porch Group (NASDAQ:PRCH) last posted its earnings results on Tuesday, May 6th. The company reported $0.02 EPS for the quarter, topping the consensus estimate of ($0.07) by $0.09. The company had revenue of $104.75 million for the quarter, compared to analyst estimates of $79.44 million. Analysts forecast that Porch Group, Inc. will post -0.63 EPS for the current year.

Institutional Investors Weigh In On Porch Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Portolan Capital Management LLC lifted its stake in shares of Porch Group by 476.0% in the 4th quarter. Portolan Capital Management LLC now owns 2,299,635 shares of the company’s stock valued at $11,314,000 after purchasing an additional 1,900,416 shares during the period. Granahan Investment Management LLC increased its holdings in Porch Group by 19.0% in the fourth quarter. Granahan Investment Management LLC now owns 11,891,581 shares of the company’s stock valued at $58,507,000 after buying an additional 1,897,816 shares in the last quarter. Driehaus Capital Management LLC acquired a new position in shares of Porch Group in the fourth quarter worth about $8,550,000. Invesco Ltd. raised its position in shares of Porch Group by 4,365.6% in the fourth quarter. Invesco Ltd. now owns 1,682,286 shares of the company’s stock worth $8,277,000 after acquiring an additional 1,644,614 shares during the period. Finally, Monashee Investment Management LLC purchased a new stake in shares of Porch Group during the 1st quarter worth about $11,300,000. Institutional investors and hedge funds own 48.48% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Oppenheimer increased their price objective on shares of Porch Group from $8.00 to $9.00 and gave the company an “outperform” rating in a research report on Wednesday, May 7th. Loop Capital reaffirmed a “buy” rating and issued a $13.00 price target (up previously from $6.00) on shares of Porch Group in a report on Wednesday, May 14th. Keefe, Bruyette & Woods lifted their price objective on shares of Porch Group from $6.00 to $7.00 and gave the stock a “market perform” rating in a research note on Wednesday, May 7th. Stephens upped their target price on Porch Group from $8.00 to $10.00 and gave the company an “overweight” rating in a research report on Friday, March 21st. Finally, Benchmark raised their target price on Porch Group from $10.00 to $12.00 and gave the stock a “buy” rating in a research note on Wednesday, May 7th. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $8.89.

About Porch Group

Porch Group, Inc, together with its subsidiaries, operates a vertical software and insurance platform in the United States. The company operates in two segments, Vertical Software and Insurance. The Vertical Software segment provides software and services to inspection, mortgage, and title companies on a subscription and transactional basis, as well as move and post-move services.