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

Porch Group, Inc. (NASDAQ:PRCH) CFO Shawn Tabak sold 19,040 shares of the business’s stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $4.04, for a total value of $76,921.60. Following the completion of the transaction, the chief financial officer now owns 292,311 shares of the company’s stock, valued at $1,180,936.44. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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

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

Porch Group Stock Performance

NASDAQ PRCH opened at $4.31 on Friday. The stock has a market capitalization of $420.66 million, a price-to-earnings ratio of -3.06 and a beta of 2.13. The stock’s 50 day moving average price is $3.05 and its two-hundred day moving average price is $2.05. Porch Group, Inc. has a 52 week low of $0.50 and a 52 week high of $4.46.

Porch Group (NASDAQ:PRCH) last released its earnings results on Thursday, March 7th. The company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.19) by $0.13. The firm had revenue of $114.61 million for the quarter, compared to analysts’ expectations 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 quarter in the previous year, the business posted ($0.32) EPS. On average, equities research analysts forecast that Porch Group, Inc. will post -0.83 EPS for the current year.

Institutional Investors Weigh In On Porch Group

Large investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. lifted its holdings in Porch Group by 1.3% during the 1st quarter. JPMorgan Chase & Co. now owns 497,530 shares of the company’s stock valued at $3,454,000 after purchasing an additional 6,377 shares during the last quarter. Graham Capital Management L.P. bought a new position in Porch Group in the first quarter valued at about $69,000. Victory Capital Management Inc. bought a new position in Porch Group in the fourth quarter valued at about $32,000. LPL Financial LLC grew its position in Porch Group by 36.4% in the second quarter. LPL Financial LLC now owns 40,550 shares of the company’s stock valued at $56,000 after acquiring an additional 10,827 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its stake in shares of Porch Group by 38.2% during the second quarter. Envestnet Asset Management Inc. now owns 39,430 shares of the company’s stock valued at $101,000 after purchasing an additional 10,904 shares in the last quarter. Institutional investors and hedge funds own 48.48% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on PRCH shares. Keefe, Bruyette & Woods boosted their price objective on 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 reiterated an “overweight” rating on shares of Porch Group in a research report on Friday, January 12th.

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.