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 company’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $6.00, for a total transaction of $130,644.00. Following the completion of the transaction, the chief financial officer now directly owns 287,839 shares of the company’s stock, valued at $1,727,034. This represents a 7.03 % decrease in their position. The sale was disclosed in a document filed with the SEC, 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 shares were sold at an average price of $2.00, for a total value of $30,000.00.

Porch Group Price Performance

NASDAQ:PRCH opened at $5.09 on Friday. The firm has a market capitalization of $608.48 million, a price-to-earnings ratio of -7.27 and a beta of 2.14. The business has a 50 day simple moving average of $3.29 and a 200-day simple moving average of $2.17. Porch Group, Inc. has a 1 year low of $1.05 and a 1 year high of $6.03.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Bank of New York Mellon Corp boosted its holdings in Porch Group by 19.0% during the 2nd 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. bought a new stake in shares of Porch Group during the second quarter worth $220,000. Rhumbline Advisers purchased a new stake in shares of Porch Group during the second quarter valued at $99,000. Acadian Asset Management LLC grew its holdings in shares of Porch Group by 444.5% in the second quarter. Acadian Asset Management LLC now owns 1,571,003 shares of the company’s stock worth $2,369,000 after purchasing an additional 1,282,500 shares during the last quarter. Finally, Citizens Financial Group Inc. RI purchased a new position in Porch Group in the 2nd quarter worth about $264,000. Institutional investors own 48.48% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on PRCH. Craig Hallum boosted their price target on Porch Group from $4.00 to $8.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Stephens boosted their target price on shares of Porch Group from $4.00 to $5.00 and gave the stock an “overweight” rating in a report on Monday, November 11th. Benchmark reiterated a “buy” rating and issued a $7.00 target price on shares of Porch Group in a research report on Tuesday, October 29th. Loop Capital reaffirmed a “hold” rating and set a $6.00 price objective on shares of Porch Group in a report on Monday, December 9th. Finally, Oppenheimer raised their target price on shares of Porch Group from $4.00 to $7.00 and gave the company an “outperform” rating in a report on Monday, December 9th. Two analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $5.34.

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.