Porch Group, Inc. (NASDAQ:PRCH) CFO Sells $130,644.00 in Stock

Porch Group, Inc. (NASDAQ:PRCH) CFO Shawn Tabak sold 21,774 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $6.00, for a total transaction of $130,644.00. Following the sale, the chief financial officer now directly owns 287,839 shares in the company, valued at $1,727,034. The trade was a 7.03 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

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

• On Monday, October 28th, Shawn Tabak sold 15,000 shares of Porch Group stock. The stock was sold at an average price of $2.00, for a total value of $30,000.00.

Porch Group Stock Up 11.4 %

Shares of NASDAQ PRCH opened at $5.09 on Friday. The firm’s 50-day moving average price is $3.29 and its 200-day moving average price is $2.17. Porch Group, Inc. has a 52-week low of $1.05 and a 52-week high of $6.03. The company has a market cap of $608.48 million, a PE ratio of -7.27 and a beta of 2.14.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Loop Capital reissued a “hold” rating and issued a $6.00 target price on shares of Porch Group in a report on Monday, December 9th. Oppenheimer upped their price target on shares of Porch Group from $4.00 to $7.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. Benchmark restated a “buy” rating and set a $7.00 price objective on shares of Porch Group in a research note on Tuesday, October 29th. Craig Hallum upped their target price on shares of Porch Group from $4.00 to $8.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Finally, Stephens increased their price target on shares of Porch Group from $4.00 to $5.00 and gave the company an “overweight” rating in a report on Monday, November 11th. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Porch Group has an average rating of “Moderate Buy” and a consensus price target of $5.34.

Institutional Investors Weigh In On Porch Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp lifted its holdings in Porch Group by 19.0% in the second quarter. Bank of New York Mellon Corp now owns 493,730 shares of the company’s stock valued at $746,000 after acquiring an additional 78,892 shares during the period. Panagora Asset Management Inc. purchased a new position in shares of Porch Group in the second quarter worth approximately $220,000. Rhumbline Advisers bought a new stake in Porch Group during the second quarter valued at approximately $99,000. Acadian Asset Management LLC increased its holdings in Porch Group by 444.5% during the second quarter. Acadian Asset Management LLC now owns 1,571,003 shares of the company’s stock valued at $2,369,000 after buying an additional 1,282,500 shares during the last quarter. Finally, Citizens Financial Group Inc. RI bought a new position in Porch Group in the second quarter worth approximately $264,000. Hedge funds and other institutional investors own 48.48% of the company’s stock.

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.