Porch Group, Inc. (NASDAQ:PRCH) Director Rachel Lam Sells 25,000 Shares

Porch Group, Inc. (NASDAQ:PRCH - Get Free Report) Director Rachel Lam sold 25,000 shares of the stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $10.75, for a total value of $268,750.00. Following the completion of the transaction, the director now directly owns 202,991 shares of the company's stock, valued at $2,182,153.25. This trade represents a 10.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Porch Group Stock Performance

PRCH traded up $0.63 during trading on Monday, reaching $11.25. The company had a trading volume of 1,725,427 shares, compared to its average volume of 2,588,453. The firm's 50-day simple moving average is $8.22 and its 200 day simple moving average is $6.36. Porch Group, Inc. has a 12-month low of $1.05 and a 12-month high of $12.20. The company has a market cap of $1.37 billion, a price-to-earnings ratio of -16.07 and a beta of 2.63.

Porch Group (NASDAQ:PRCH - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported $0.02 EPS for the quarter, topping the consensus estimate of ($0.07) by $0.09. The business had revenue of $104.75 million during the quarter, compared to analyst estimates of $79.44 million. On average, sell-side analysts expect that Porch Group, Inc. will post -0.63 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on PRCH. Stephens boosted their price target on Porch Group from $8.00 to $10.00 and gave the stock an "overweight" rating in a research report on Friday, March 21st. Loop Capital restated a "buy" rating and set a $13.00 price objective (up from $6.00) on shares of Porch Group in a research note on Wednesday, May 14th. Benchmark upped their price objective on shares of Porch Group from $10.00 to $12.00 and gave the stock a "buy" rating in a report on Wednesday, May 7th. Oppenheimer raised their target price on shares of Porch Group from $8.00 to $9.00 and gave the company an "outperform" rating in a research note on Wednesday, May 7th. Finally, Keefe, Bruyette & Woods upped their price target on shares of Porch Group from $6.00 to $7.00 and gave the stock a "market perform" rating in a research note on Wednesday, May 7th. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $8.89.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. FNY Investment Advisers LLC purchased a new position in Porch Group in the first quarter valued at about $29,000. Jones Financial Companies Lllp acquired a new stake in Porch Group in the 4th quarter valued at approximately $35,000. CWM LLC increased its position in Porch Group by 112.2% during the first quarter. CWM LLC now owns 8,732 shares of the company's stock worth $64,000 after acquiring an additional 4,617 shares during the period. Raymond James Financial Inc. bought a new position in Porch Group during the fourth quarter valued at about $50,000. Finally, Ameriprise Financial Inc. acquired a new stake in Porch Group during the fourth quarter worth $51,000. 48.48% of the stock is 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.