Porch Group, Inc. (NASDAQ:PRCH) CFO Sells $76,921.60 in Stock

Porch Group, Inc. (NASDAQ:PRCH) CFO Shawn Tabak sold 19,040 shares of the stock in a transaction 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 transaction, the chief financial officer now directly owns 292,311 shares of the company’s stock, valued at $1,180,936.44. The sale was disclosed in a document filed with the SEC, which is accessible through 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 shares were sold at an average price of $4.00, for a total value of $102,712.00.

Porch Group Stock Up 4.4 %

NASDAQ PRCH traded up $0.18 during midday trading on Thursday, hitting $4.31. The company had a trading volume of 1,843,913 shares, compared to its average volume of 1,680,722. The firm has a fifty day simple moving average of $3.01 and a two-hundred day simple moving average of $2.04. Porch Group, Inc. has a fifty-two week low of $0.50 and a fifty-two week high of $4.46. The stock 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 released its quarterly earnings data on Thursday, March 7th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.19) by $0.13. The firm had revenue of $114.61 million during the quarter, compared to analyst estimates 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 prior year, the company posted ($0.32) earnings per share. As a group, equities analysts predict that Porch Group, Inc. will post -0.83 earnings per share for the current year.

Hedge Funds Weigh In On Porch Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Fidelity National Financial Inc. acquired a new position in shares of Porch Group in the 3rd quarter valued at $3,772,000. FMR LLC raised its holdings in Porch Group by 7,804.2% during the 1st quarter. FMR LLC now owns 3,267,678 shares of the company’s stock worth $4,673,000 after buying an additional 3,226,337 shares during the period. Granahan Investment Management LLC boosted its holdings in shares of Porch Group by 12.0% in the fourth quarter. Granahan Investment Management LLC now owns 11,890,749 shares of the company’s stock valued at $36,624,000 after buying an additional 1,278,208 shares during the period. State Street Corp grew its holdings in shares of 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 in the last quarter. Finally, Luminus Management LLC lifted its stake in Porch Group by 102.2% in the 3rd quarter. Luminus Management LLC now owns 2,275,000 shares of the company’s stock valued at $1,826,000 after acquiring an additional 1,150,000 shares in the last quarter. Institutional investors own 48.48% of the company’s stock.

Analysts Set New Price Targets

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

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.