Porch Group, Inc. (NASDAQ:PRCH) Director Sells $450,400.00 in Stock

Porch Group, Inc. (NASDAQ:PRCH) Director Alan R. Pickerill sold 40,000 shares of the business’s stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $11.26, for a total transaction of $450,400.00. Following the transaction, the director now owns 182,416 shares in the company, valued at approximately $2,054,004.16. This trade represents a 17.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Porch Group Price Performance

Shares of NASDAQ PRCH opened at $10.62 on Friday. Porch Group, Inc. has a 12-month low of $1.05 and a 12-month high of $12.20. The company has a market capitalization of $1.29 billion, a PE ratio of -15.17 and a beta of 2.63. The firm’s 50-day moving average is $8.22 and its two-hundred day moving average is $6.35.

Porch Group (NASDAQ:PRCH) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.09. The business had revenue of $104.75 million during the quarter, compared to analysts’ expectations of $79.44 million. On average, analysts forecast that Porch Group, Inc. will post -0.63 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on PRCH. Loop Capital reiterated a “buy” rating and set a $13.00 price target (up from $6.00) on shares of Porch Group in a research note on Wednesday, May 14th. Oppenheimer upped their target price on shares of Porch Group from $8.00 to $9.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 7th. Benchmark upped their target price on shares of Porch Group from $10.00 to $12.00 and gave the stock a “buy” rating in a research report on Wednesday, May 7th. Keefe, Bruyette & Woods upped their target price on shares of Porch Group from $6.00 to $7.00 and gave the stock a “market perform” rating in a research report on Wednesday, May 7th. Finally, Stephens upped their target price on shares of Porch Group from $8.00 to $10.00 and gave the stock an “overweight” rating in a research report on Friday, March 21st. 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. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $8.89.

Institutional Trading of Porch Group

Several institutional investors and hedge funds have recently modified their holdings of the business. Rhumbline Advisers lifted its holdings in shares of Porch Group by 28.7% in the first quarter. Rhumbline Advisers now owns 99,436 shares of the company’s stock valued at $725,000 after purchasing an additional 22,159 shares in the last quarter. Acadian Asset Management LLC lifted its stake in shares of Porch Group by 92.5% during the first quarter. Acadian Asset Management LLC now owns 1,619,752 shares of the company’s stock valued at $11,800,000 after buying an additional 778,240 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of Porch Group by 2.3% during the first quarter. Goldman Sachs Group Inc. now owns 1,161,064 shares of the company’s stock valued at $8,464,000 after buying an additional 26,119 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Porch Group by 4.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 48,275 shares of the company’s stock valued at $352,000 after buying an additional 2,002 shares during the period. Finally, Bosun Asset Management LLC purchased a new position in shares of Porch Group during the first quarter valued at approximately $209,000. Hedge funds and other institutional investors own 48.48% of the company’s stock.

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.