Porch Group (NASDAQ:PRCH) Director Amanda L. Reierson Sells 50,000 Shares

Key Points

• Porch Group Director Amanda Reierson sold 50,000 shares at an average price of $17.67, resulting in a total transaction of $883,500, reducing her ownership by 24.83%.
• Despite the insider selling, Porch Group's stock saw a slight increase of 1.6% in midday trading, reaching $17.94.
• Analysts have mixed ratings on PRCH, with target prices ranging from $14.00 to $21.00, indicating a generally positive outlook for the stock.

Porch Group, Inc. (NASDAQ:PRCH - Get Free Report) Director Amanda L. Reierson sold 50,000 shares of the firm's stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $17.67, for a total transaction of $883,500.00. Following the completion of the transaction, the director directly owned 151,375 shares in the company, valued at approximately $2,674,796.25. This represents a 24.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Porch Group Stock Performance

Shares of NASDAQ:PRCH remained flat at $18.86 during midday trading on Friday. 4,171,360 shares of the stock traded hands, compared to its average volume of 2,210,470. The business's 50-day moving average is $15.50 and its 200 day moving average is $10.95. The stock has a market cap of $2.31 billion, a P/E ratio of 36.98 and a beta of 2.84. Porch Group, Inc. has a 12-month low of $1.26 and a 12-month high of $19.22.

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

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Cantor Fitzgerald reissued an "overweight" rating and issued a $20.00 price target on shares of Porch Group in a research note on Tuesday, September 2nd. Oppenheimer raised their price target on shares of Porch Group from $14.00 to $17.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 6th. Benchmark raised their price target on shares of Porch Group from $17.00 to $21.00 and gave the stock a "buy" rating in a research note on Wednesday, September 10th. The Goldman Sachs Group initiated 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 for the company. Finally, Zacks Research cut 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 given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $15.67.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Rhumbline Advisers grew 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. GAMMA Investing LLC grew its holdings in shares of Porch Group by 801.6% in the first quarter. GAMMA Investing LLC now owns 91,285 shares of the company's stock valued at $665,000 after purchasing an additional 81,160 shares in the last quarter. Ameriprise Financial Inc. acquired a new position in shares of Porch Group in the fourth quarter valued at approximately $51,000. Two Sigma Investments LP grew its holdings in shares of Porch Group by 1,564.1% in the fourth quarter. Two Sigma Investments LP now owns 197,127 shares of the company's stock valued at $970,000 after purchasing an additional 185,281 shares in the last quarter. Finally, Hsbc Holdings PLC acquired a new position in shares of Porch Group in the first quarter valued at approximately $106,000. Institutional investors and hedge funds 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.