Insider Selling: Porch Group (NASDAQ:PRCH) Director Sells 40,000 Shares of Stock

Key Points

• Porch Group's Director Regi Vengalil sold 40,000 shares of stock at an average price of $18.20, totaling approximately $728,000, representing a 19.43% decrease in their position.
• Following the sale, the stock price of Porch Group fell by 1.5% to $18.76, with trading volume at 1,670,534 shares.
• Analysts remain optimistic with a consensus rating of "Moderate Buy" and an average price target of $15.22 for Porch Group shares.

Porch Group, Inc. (NASDAQ:PRCH - Get Free Report) Director Regi Vengalil sold 40,000 shares of Porch Group stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $18.20, for a total transaction of $728,000.00. Following the sale, the director owned 165,903 shares in the company, valued at approximately $3,019,434.60. This represents a 19.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Porch Group Stock Down 3.9%

NASDAQ:PRCH traded down $0.71 during trading hours on Friday, hitting $17.44. 2,577,005 shares of the company traded hands, compared to its average volume of 1,985,751. The company has a market cap of $2.14 billion, a PE ratio of 34.20 and a beta of 2.84. The firm's 50-day simple moving average is $14.95 and its 200-day simple moving average is $10.53. Porch Group, Inc. has a one year low of $1.26 and a one year high of $19.22.

Porch Group (NASDAQ:PRCH - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $0.03 EPS for the quarter, beating analysts' consensus estimates of ($0.13) by $0.16. The company had revenue of $119.30 million during the quarter, compared to the consensus estimate of $98.06 million. Porch Group had a negative return on equity of 41.71% and a net margin of 12.82%. Porch Group has set its FY 2025 guidance at EPS. As a group, equities research analysts expect that Porch Group, Inc. will post -0.63 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Squarepoint Ops LLC boosted its position in Porch Group by 121.2% during the second quarter. Squarepoint Ops LLC now owns 124,693 shares of the company's stock worth $1,470,000 after purchasing an additional 68,326 shares in the last quarter. State of Wyoming purchased a new stake in shares of Porch Group in the 2nd quarter valued at approximately $111,000. Tower Research Capital LLC TRC raised its position in Porch Group by 235.9% in the second quarter. Tower Research Capital LLC TRC now owns 31,589 shares of the company's stock valued at $372,000 after purchasing an additional 22,185 shares during the period. HRT Financial LP acquired a new stake in shares of Porch Group during the second quarter valued at about $2,729,000. Finally, G2 Investment Partners Management LLC raised its position in Porch Group by 28.4% in the second quarter. G2 Investment Partners Management LLC now owns 1,229,183 shares of the company's stock valued at $14,492,000 after purchasing an additional 271,561 shares during the period. 48.48% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently weighed in on PRCH. Oppenheimer upped their target price on shares of Porch Group from $14.00 to $17.00 and gave the stock an "outperform" rating in a report on Wednesday, August 6th. Zacks Research downgraded shares of Porch Group from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 21st. B. Riley began coverage on Porch Group in a research note on Tuesday, July 1st. They issued a "buy" rating and a $15.00 price target for the company. The Goldman Sachs Group started coverage on shares of Porch Group in a research report on Tuesday, September 2nd. They set a "buy" rating and a $21.00 price objective on the stock. Finally, Keefe, Bruyette & Woods upped their price target on shares of Porch Group from $7.00 to $16.00 and gave the company a "market perform" rating in a report on Wednesday, August 13th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Porch Group currently has an average rating of "Moderate Buy" and a consensus price target of $15.67.

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.