Shawn Tabak Sells 15,000 Shares of Porch Group, Inc. (NASDAQ:PRCH) Stock

Porch Group, Inc. (NASDAQ:PRCH) CFO Shawn Tabak sold 15,000 shares of the stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $2.00, for a total value of $30,000.00. Following the sale, the chief financial officer now owns 278,298 shares of the company’s stock, valued at approximately $556,596. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Porch Group Trading Up 0.5 %

NASDAQ PRCH traded up $0.01 on Tuesday, hitting $2.19. 6,259,815 shares of the company were exchanged, compared to its average volume of 1,367,062. The firm has a 50 day moving average of $1.41 and a two-hundred day moving average of $1.92. The company has a market cap of $260.11 million, a P/E ratio of -2.44 and a beta of 2.04. Porch Group, Inc. has a 1-year low of $0.54 and a 1-year high of $4.78.

Porch Group (NASDAQ:PRCH) last issued its quarterly earnings results on Tuesday, August 6th. The company reported ($0.65) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.58) by ($0.07). The company had revenue of $110.84 million for the quarter, compared to analyst estimates of $117.91 million. During the same quarter last year, the business posted ($0.73) EPS. Research analysts anticipate that Porch Group, Inc. will post -0.76 EPS for the current fiscal year.

Analysts Set New Price Targets

PRCH has been the subject of several research analyst reports. Northland Securities cut their target price on shares of Porch Group from $5.00 to $3.25 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. Oppenheimer cut their target price on shares of Porch Group from $4.50 to $3.50 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Craig Hallum boosted their price target on shares of Porch Group from $3.00 to $4.00 and gave the company a “buy” rating in a report on Tuesday. Cantor Fitzgerald raised shares of Porch Group to a “strong-buy” rating in a report on Tuesday, August 13th. Finally, Benchmark reissued a “buy” rating and issued a $7.00 price target on shares of Porch Group in a report on Tuesday. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Porch Group currently has an average rating of “Buy” and a consensus price target of $4.32.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Harbor Capital Advisors Inc. lifted its position in Porch Group by 186.6% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 3,774,909 shares of the company’s stock valued at $5,794,000 after purchasing an additional 2,457,915 shares during the period. Renaissance Technologies LLC raised its position in shares of Porch Group by 53.8% in the 2nd quarter. Renaissance Technologies LLC now owns 2,184,500 shares of the company’s stock valued at $3,299,000 after acquiring an additional 763,800 shares during the period. Marshall Wace LLP raised its position in shares of Porch Group by 11.8% in the 2nd quarter. Marshall Wace LLP now owns 2,152,174 shares of the company’s stock valued at $3,250,000 after acquiring an additional 226,721 shares during the period. Acadian Asset Management LLC raised its position in shares of Porch Group by 444.5% in the 2nd quarter. Acadian Asset Management LLC now owns 1,571,003 shares of the company’s stock valued at $2,369,000 after acquiring an additional 1,282,500 shares during the period. Finally, Natixis acquired a new stake in shares of Porch Group in the 1st quarter valued at approximately $3,906,000. 48.48% of the stock is currently owned by institutional investors and hedge funds.

Porch Group Company Profile

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.