Insider Selling: Porch Group, Inc. (NASDAQ:PRCH) CFO Sells 108,226 Shares of Stock

Porch Group, Inc. (NASDAQ:PRCH - Get Free Report) CFO Shawn Tabak sold 108,226 shares of the stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $6.05, for a total transaction of $654,767.30. Following the sale, the chief financial officer now owns 179,613 shares in the company, valued at $1,086,658.65. The trade was a 37.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Monday, December 16th, Shawn Tabak sold 21,774 shares of Porch Group stock. The shares were sold at an average price of $6.00, for a total transaction of $130,644.00.

Porch Group Stock Performance

Shares of NASDAQ:PRCH traded down $0.15 during midday trading on Tuesday, hitting $6.77. 3,516,225 shares of the stock were exchanged, compared to its average volume of 2,238,953. The business's 50-day moving average price is $4.89 and its 200 day moving average price is $3.32. Porch Group, Inc. has a 12 month low of $1.05 and a 12 month high of $7.19. The stock has a market capitalization of $809.31 million, a price-to-earnings ratio of -9.67 and a beta of 2.03.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on PRCH. Keefe, Bruyette & Woods lifted their price target on Porch Group from $3.50 to $6.00 and gave the company a "market perform" rating in a research note on Monday. Loop Capital upgraded Porch Group from a "hold" rating to a "buy" rating and set a $6.00 target price on the stock in a research report on Wednesday, February 26th. Stephens boosted their target price on Porch Group from $4.00 to $5.00 and gave the stock an "overweight" rating in a research note on Monday, November 11th. Craig Hallum raised their price target on shares of Porch Group from $4.00 to $8.00 and gave the company a "buy" rating in a research note on Friday, December 6th. Finally, Benchmark lifted their price target on shares of Porch Group from $7.00 to $10.00 and gave the company a "buy" rating in a report on Wednesday, February 26th. 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. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $6.41.

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Institutional Investors Weigh In On Porch Group

A number of institutional investors have recently added to or reduced their stakes in the business. Harbor Capital Advisors Inc. grew its stake in shares of Porch Group by 186.6% in the third quarter. Harbor Capital Advisors Inc. now owns 3,774,909 shares of the company's stock worth $5,794,000 after purchasing an additional 2,457,915 shares during the last quarter. Los Angeles Capital Management LLC bought a new stake in shares of Porch Group in the 3rd quarter valued at about $46,000. GSA Capital Partners LLP grew its position in shares of Porch Group by 223.4% in the 3rd quarter. GSA Capital Partners LLP now owns 1,532,616 shares of the company's stock valued at $2,353,000 after buying an additional 1,058,653 shares during the last quarter. Caprock Group LLC acquired a new stake in shares of Porch Group in the third quarter valued at about $37,000. Finally, Citizens Financial Group Inc. RI boosted its holdings in Porch Group by 128.6% in the third quarter. Citizens Financial Group Inc. RI now owns 400,000 shares of the company's stock valued at $614,000 after acquiring an additional 225,000 shares during the last quarter. 48.48% of the stock is owned by institutional investors.

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.