Porch Group (NASDAQ:PRCH) Director Sells $728,000.00 in 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 the business's stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $18.20, for a total transaction of $728,000.00. Following the transaction, the director owned 165,903 shares in the company, valued at approximately $3,019,434.60. The trade was a 19.43% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Porch Group Stock Performance

Shares of NASDAQ:PRCH traded down $0.71 on Friday, hitting $17.44. 2,577,005 shares of the company were exchanged, compared to its average volume of 2,062,632. The company's 50 day moving average price is $14.95 and its two-hundred day moving average price is $10.58. Porch Group, Inc. has a one year low of $1.26 and a one year high of $19.22. The firm has a market capitalization of $2.14 billion, a price-to-earnings ratio of 34.20 and a beta of 2.83.

Porch Group (NASDAQ:PRCH - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.16. Porch Group had a net margin of 12.82% and a negative return on equity of 41.71%. The company had revenue of $119.30 million for the quarter, compared to the consensus estimate of $98.06 million. Porch Group has set its FY 2025 guidance at EPS. Research analysts predict that Porch Group, Inc. will post -0.63 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have recently weighed in on PRCH shares. B. Riley started coverage on shares of Porch Group in a research report on Tuesday, July 1st. They set a "buy" rating and a $15.00 target price on the stock. 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 target price on the stock. Benchmark lifted their target price on shares of Porch Group from $17.00 to $21.00 and gave the company a "buy" rating in a research report on Wednesday. Keefe, Bruyette & Woods lifted their target price on shares of Porch Group from $7.00 to $16.00 and gave the company a "market perform" rating in a research report on Wednesday, August 13th. Finally, Zacks Research lowered shares of Porch Group from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 21st. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $15.67.

Hedge Funds Weigh In On Porch Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Squarepoint Ops LLC boosted its position in Porch Group by 121.2% in the second quarter. Squarepoint Ops LLC now owns 124,693 shares of the company's stock valued at $1,470,000 after buying an additional 68,326 shares in the last quarter. State of Wyoming acquired a new position in Porch Group in the second quarter valued at about $111,000. Tower Research Capital LLC TRC boosted 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 buying an additional 22,185 shares in the last quarter. HRT Financial LP acquired a new position in Porch Group in the second quarter valued at about $2,729,000. Finally, G2 Investment Partners Management LLC boosted 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 buying an additional 271,561 shares in the last quarter. 48.48% of the stock is currently owned by institutional investors and hedge funds.

Porch Group Company Profile

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.