Porch Group, Inc. (NASDAQ:PRCH) CFO Shawn Tabak Sells 19,040 Shares

Porch Group, Inc. (NASDAQ:PRCH) CFO Shawn Tabak sold 19,040 shares of the business’s stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $4.04, for a total value of $76,921.60. Following the transaction, the chief financial officer now directly owns 292,311 shares of the company’s stock, valued at approximately $1,180,936.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

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

• On Thursday, March 21st, Shawn Tabak sold 25,678 shares of Porch Group stock. The stock was sold at an average price of $4.00, for a total transaction of $102,712.00.

Porch Group Stock Performance

Shares of NASDAQ PRCH traded up $0.18 during midday trading on Thursday, reaching $4.31. The stock had a trading volume of 1,843,913 shares, compared to its average volume of 1,680,722. Porch Group, Inc. has a twelve month low of $0.50 and a twelve month high of $4.46. The company’s 50 day moving average price is $3.01 and its 200 day moving average price is $2.04. The firm has a market cap of $420.64 million, a price-to-earnings ratio of -3.09 and a beta of 2.13.

Porch Group (NASDAQ:PRCH) last issued its earnings results on Thursday, March 7th. The company reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.13. The business had revenue of $114.61 million during the quarter, compared to the consensus estimate of $99.60 million. Porch Group had a negative return on equity of 1,182.09% and a negative net margin of 31.12%. During the same period in the previous year, the company posted ($0.32) earnings per share. Equities analysts forecast that Porch Group, Inc. will post -0.83 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Porch Group

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Granahan Investment Management LLC boosted its holdings in Porch Group by 12.0% in the fourth quarter. Granahan Investment Management LLC now owns 11,890,749 shares of the company’s stock worth $36,624,000 after acquiring an additional 1,278,208 shares in the last quarter. Vanguard Group Inc. grew its position in Porch Group by 1.3% in the 3rd quarter. Vanguard Group Inc. now owns 5,795,956 shares of the company’s stock valued at $4,652,000 after purchasing an additional 74,291 shares during the period. Fidelity National Financial Inc. bought a new stake in Porch Group during the 3rd quarter valued at $3,772,000. Goldman Sachs Group Inc. raised its holdings in Porch Group by 40.6% during the second quarter. Goldman Sachs Group Inc. now owns 3,692,247 shares of the company’s stock worth $9,452,000 after buying an additional 1,065,665 shares during the last quarter. Finally, State Street Corp raised its holdings in Porch Group by 57.2% during the second quarter. State Street Corp now owns 3,289,130 shares of the company’s stock worth $8,420,000 after buying an additional 1,196,716 shares during the last quarter. 48.48% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on PRCH. Keefe, Bruyette & Woods upped their price target on shares of Porch Group from $3.50 to $3.75 and gave the company a “market perform” rating in a research report on Friday, March 22nd. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Porch Group in a research report on Friday, January 12th.

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.