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

Porch Group, Inc. (NASDAQ:PRCH) CFO Shawn Tabak sold 108,226 shares of Porch Group stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $6.05, for a total value of $654,767.30. Following the completion of the sale, the chief financial officer now directly owns 179,613 shares of the company’s stock, valued at $1,086,658.65. The trade was a 37.60 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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 Price Performance

NASDAQ:PRCH opened at $6.99 on Friday. The firm has a market capitalization of $835.61 million, a price-to-earnings ratio of -9.99 and a beta of 2.03. The business has a 50 day simple moving average of $4.85 and a 200-day simple moving average of $3.26. Porch Group, Inc. has a 1 year low of $1.05 and a 1 year high of $7.19.

Institutional Trading of Porch Group

Several hedge funds and other institutional investors have recently bought and sold shares of PRCH. Jefferies Financial Group Inc. bought a new position in Porch Group during the fourth quarter valued at $4,135,000. Squarepoint Ops LLC bought a new position in Porch Group during the 4th quarter valued at about $57,000. Two Sigma Advisers LP grew its holdings in Porch Group by 44.1% during the 4th quarter. Two Sigma Advisers LP now owns 123,600 shares of the company’s stock valued at $608,000 after purchasing an additional 37,800 shares during the last quarter. Two Sigma Investments LP raised its position in Porch Group by 1,564.1% in the 4th quarter. Two Sigma Investments LP now owns 197,127 shares of the company’s stock worth $970,000 after purchasing an additional 185,281 shares during the period. Finally, ProShare Advisors LLC lifted its stake in Porch Group by 51.0% in the fourth quarter. ProShare Advisors LLC now owns 22,238 shares of the company’s stock worth $109,000 after purchasing an additional 7,506 shares during the last quarter. Hedge funds and other institutional investors own 48.48% of the company’s stock.

Wall Street Analysts Forecast Growth

PRCH has been the subject of several research analyst reports. Craig Hallum raised their target price 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. Loop Capital raised Porch Group from a “hold” rating to a “buy” rating and set a $6.00 target price on the stock in a report on Wednesday. Benchmark increased their price target on Porch Group from $7.00 to $10.00 and gave the company a “buy” rating in a research note on Wednesday. Stephens lifted their price objective on Porch Group from $4.00 to $5.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. Finally, Oppenheimer upped their price objective on Porch Group from $7.00 to $8.00 and gave the stock an “outperform” rating in a report on Wednesday. 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 stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $5.84.

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.