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 dated Wednesday, February 26th. The stock was sold at an average price of $6.05, for a total value of $654,767.30. Following the transaction, the chief financial officer now directly owns 179,613 shares of the company’s stock, valued at approximately $1,086,658.65. The trade was a 37.60 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

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 value of $130,644.00.

Porch Group Price Performance

NASDAQ PRCH opened at $6.99 on Friday. The stock has a market capitalization of $835.61 million, a PE ratio of -9.99 and a beta of 2.03. The business has a 50 day simple moving average of $4.85 and a two-hundred day simple moving average of $3.25. Porch Group, Inc. has a 1-year low of $1.05 and a 1-year high of $7.19.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. 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. Vanguard Group Inc. grew its position in Porch Group by 24.9% in the fourth quarter. Vanguard Group Inc. now owns 5,511,591 shares of the company’s stock worth $27,117,000 after acquiring an additional 1,100,224 shares during the period. Harbor Capital Advisors Inc. lifted its stake in Porch Group by 186.6% during the third quarter. Harbor Capital Advisors Inc. now owns 3,774,909 shares of the company’s stock worth $5,794,000 after purchasing an additional 2,457,915 shares in the last quarter. Portolan Capital Management LLC lifted its stake in 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 purchasing an additional 1,900,416 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in Porch Group by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 2,012,705 shares of the company’s stock worth $9,905,000 after purchasing an additional 24,824 shares in the last quarter. 48.48% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PRCH has been the topic of several analyst reports. Stephens upped their target price on Porch Group from $4.00 to $5.00 and gave the company 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 research report on Friday, December 6th. Benchmark increased their price target on Porch Group from $7.00 to $10.00 and gave the company a “buy” rating in a research report on Wednesday. Loop Capital raised Porch Group from a “hold” rating to a “buy” rating and set a $6.00 target price for the company in a research report on Wednesday. Finally, Oppenheimer increased their price target on Porch Group from $7.00 to $8.00 and gave the stock an “outperform” rating in a research note on Wednesday. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $5.84.

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.