Porch Group (NASDAQ:PRCH) CFO Sells $211,496.32 in Stock

Porch Group, Inc. (NASDAQ:PRCH) CFO Shawn Tabak sold 22,216 shares of the stock in a transaction on Thursday, December 4th. The stock was sold at an average price of $9.52, for a total value of $211,496.32. Following the completion of the transaction, the chief financial officer directly owned 153,130 shares of the company’s stock, valued at approximately $1,457,797.60. The trade was a 12.67% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Porch Group Price Performance

Shares of PRCH stock traded down $0.28 during midday trading on Friday, reaching $9.36. 1,129,464 shares of the company were exchanged, compared to its average volume of 2,330,392. The company’s 50 day moving average price is $13.27 and its two-hundred day moving average price is $13.53. The company has a market cap of $1.16 billion, a P/E ratio of 32.28 and a beta of 3.11. Porch Group, Inc. has a 12 month low of $3.72 and a 12 month high of $19.44. The company has a debt-to-equity ratio of 36.18, a quick ratio of 1.33 and a current ratio of 1.33.

Porch Group (NASDAQ:PRCH) last posted its quarterly earnings data on Wednesday, November 5th. The company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.02). The company had revenue of $118.08 million for the quarter, compared to analyst estimates of $114.42 million. Porch Group had a net margin of 6.91% and a negative return on equity of 51.86%. On average, sell-side analysts expect that Porch Group, Inc. will post -0.63 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Oppenheimer set a $20.00 price target on shares of Porch Group in a report on Thursday, November 6th. B. Riley reiterated a “buy” rating on shares of Porch Group in a research report on Thursday, November 6th. Zacks Research downgraded shares of Porch Group from a “hold” rating to a “strong sell” rating in a research report on Wednesday, November 5th. Weiss Ratings upgraded shares of Porch Group from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday. Finally, Benchmark restated a “buy” rating on shares of Porch Group in a report on Tuesday, November 25th. Eight analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Porch Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $16.00.

Hedge Funds Weigh In On Porch Group

Several institutional investors and hedge funds have recently modified their holdings of PRCH. Geode Capital Management LLC raised its holdings in shares of Porch Group by 2.3% during the 2nd quarter. Geode Capital Management LLC now owns 2,150,086 shares of the company’s stock valued at $25,354,000 after purchasing an additional 48,811 shares in the last quarter. Bank of Montreal Can boosted its stake in Porch Group by 26.3% during the second quarter. Bank of Montreal Can now owns 522,082 shares of the company’s stock worth $6,155,000 after buying an additional 108,857 shares in the last quarter. Zweig DiMenna Associates LLC boosted its position in shares of Porch Group by 296.6% during the 2nd quarter. Zweig DiMenna Associates LLC now owns 872,500 shares of the company’s stock valued at $10,287,000 after acquiring an additional 652,500 shares in the last quarter. Calamos Advisors LLC acquired a new position in Porch Group in the second quarter worth about $982,000. Finally, Hennessy Advisors Inc. acquired a new stake in Porch Group during the second quarter valued at approximately $19,607,000. 48.48% of the stock is currently owned by hedge funds and other institutional investors.

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.