Porch Group, Inc. (NASDAQ:PRCH) CFO Sells $30,000.00 in 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 transaction of $30,000.00. Following the completion of the sale, the chief financial officer now owns 278,298 shares in the company, valued at $556,596. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Porch Group Price Performance

Shares of Porch Group stock traded up $0.01 during midday trading on Tuesday, reaching $2.19. The company had a trading volume of 6,259,815 shares, compared to its average volume of 1,367,062. The stock has a fifty day moving average price of $1.41 and a 200 day moving average price of $1.92. The firm has a market cap of $260.11 million, a PE ratio of -2.44 and a beta of 2.04. Porch Group, Inc. has a fifty-two week low of $0.54 and a fifty-two week high of $4.78.

Porch Group (NASDAQ:PRCH) last issued its earnings results on Tuesday, August 6th. The company reported ($0.65) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.07). The firm had revenue of $110.84 million during the quarter, compared to the consensus estimate of $117.91 million. During the same quarter last year, the firm earned ($0.73) earnings per share. As a group, sell-side analysts forecast that Porch Group, Inc. will post -0.76 EPS for the current year.

Analysts Set New Price Targets

PRCH has been the subject of several research reports. Craig Hallum raised their price target on shares of Porch Group from $3.00 to $4.00 and gave the stock a “buy” rating in a research note on Tuesday. Northland Securities decreased their price target 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. Benchmark reaffirmed a “buy” rating and set a $7.00 price target on shares of Porch Group in a research note on Tuesday. Cantor Fitzgerald raised shares of Porch Group to a “strong-buy” rating in a research note on Tuesday, August 13th. Finally, Oppenheimer decreased their price target 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. One investment analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Porch Group has an average rating of “Buy” and a consensus target price of $4.32.

Institutional Investors Weigh In On Porch Group

Several institutional investors have recently bought and sold shares of the stock. Harbor Capital Advisors Inc. grew its holdings in Porch Group by 186.6% during the third quarter. Harbor Capital Advisors Inc. now owns 3,774,909 shares of the company’s stock worth $5,794,000 after buying an additional 2,457,915 shares in the last quarter. Renaissance Technologies LLC grew its stake in 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 purchasing an additional 763,800 shares during the period. Marshall Wace LLP grew its stake in 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 purchasing an additional 226,721 shares during the period. Acadian Asset Management LLC grew its stake in 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 purchasing an additional 1,282,500 shares during the period. Finally, Natixis bought a new position in Porch Group in the 1st quarter valued at $3,906,000. Institutional investors own 48.48% of the company’s stock.

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.