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 business’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $6.05, for a total value 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 trade represents a 37.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at 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 value of $130,644.00.

Porch Group Stock Performance

Shares of Porch Group stock traded up $0.04 on Friday, hitting $6.74. The company had a trading volume of 394,475 shares, compared to its average volume of 2,109,138. The stock has a market capitalization of $805.73 million, a price-to-earnings ratio of -9.63 and a beta of 2.03. The stock has a 50 day moving average of $4.82 and a 200-day moving average of $3.21. Porch Group, Inc. has a 1 year low of $1.05 and a 1 year high of $7.19.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Stephens raised their price target on shares of Porch Group from $4.00 to $5.00 and gave the company an “overweight” rating in a research report on Monday, November 11th. Oppenheimer upped their target price on Porch Group from $7.00 to $8.00 and gave the stock an “outperform” rating in a research note on Wednesday. Craig Hallum upped their price target on Porch Group from $4.00 to $8.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Benchmark raised their price objective on shares of Porch Group from $7.00 to $10.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Loop Capital upgraded shares of Porch Group from a “hold” rating to a “buy” rating and set a $6.00 price target for the company in a report on Wednesday. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Porch Group currently has an average rating of “Buy” and an average target price of $5.84.

Institutional Investors Weigh In On Porch Group

Hedge funds have recently made changes to their positions in the company. Harbor Capital Advisors Inc. boosted its stake in shares of Porch Group by 186.6% in the third quarter. Harbor Capital Advisors Inc. now owns 3,774,909 shares of the company’s stock worth $5,794,000 after acquiring an additional 2,457,915 shares during the period. Portolan Capital Management LLC grew its stake in shares of Porch Group by 476.0% during the fourth quarter. Portolan Capital Management LLC now owns 2,299,635 shares of the company’s stock worth $11,314,000 after acquiring an additional 1,900,416 shares during the last quarter. Granahan Investment Management LLC lifted its holdings in shares of Porch Group by 19.0% in the 4th quarter. Granahan Investment Management LLC now owns 11,891,581 shares of the company’s stock valued at $58,507,000 after buying an additional 1,897,816 shares during the period. Driehaus Capital Management LLC acquired a new stake in Porch Group in the 4th quarter valued at $8,550,000. Finally, Invesco Ltd. increased its holdings in shares of Porch Group by 4,365.6% in the fourth quarter. Invesco Ltd. now owns 1,682,286 shares of the company’s stock valued at $8,277,000 after purchasing an additional 1,644,614 shares during the last quarter. 48.48% of the stock is currently owned by institutional investors.

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.