Porch Group, Inc. (NASDAQ:PRCH) CFO Shawn Tabak Sells 108,226 Shares

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

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

• On Monday, December 16th, Shawn Tabak sold 21,774 shares of Porch Group stock. The stock was sold at an average price of $6.00, for a total transaction of $130,644.00.

Porch Group Price Performance

NASDAQ PRCH traded up $0.06 during midday trading on Friday, hitting $6.76. 394,475 shares of the company traded hands, compared to its average volume of 2,109,138. Porch Group, Inc. has a 52 week low of $1.05 and a 52 week high of $7.19. The company’s 50-day simple moving average is $4.82 and its 200-day simple moving average is $3.21. The company has a market cap of $807.76 million, a PE ratio of -9.63 and a beta of 2.03.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PRCH. Harbor Capital Advisors Inc. raised its position in shares of Porch Group by 186.6% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 3,774,909 shares of the company’s stock valued at $5,794,000 after buying an additional 2,457,915 shares during the period. Franklin Resources Inc. acquired a new position in shares of Porch Group in the 3rd quarter valued at $238,000. Barclays PLC boosted its position in Porch Group by 415.5% in the 3rd quarter. Barclays PLC now owns 134,919 shares of the company’s stock valued at $207,000 after buying an additional 108,748 shares during the last quarter. GSA Capital Partners LLP lifted its stake in Porch Group by 223.4% during the third quarter. GSA Capital Partners LLP now owns 1,532,616 shares of the company’s stock worth $2,353,000 after purchasing an additional 1,058,653 shares during the last quarter. Finally, Citizens Financial Group Inc. RI increased its position in Porch Group by 128.6% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 400,000 shares of the company’s stock valued at $614,000 after acquiring an additional 225,000 shares during the period. 48.48% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have commented on PRCH. Stephens lifted 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. Craig Hallum upped their target price on Porch Group from $4.00 to $8.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Benchmark raised their price target on Porch Group from $7.00 to $10.00 and gave the company a “buy” rating in a report on Wednesday. Loop Capital upgraded Porch Group from a “hold” rating to a “buy” rating and set a $6.00 price target for the company in a research note on Wednesday. Finally, Oppenheimer upped their price objective on shares of Porch Group from $7.00 to $8.00 and gave the stock an “outperform” rating in a research report on Wednesday. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $5.84.

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.