Insider Selling: Porch Group (NASDAQ:PRCH) Director Sells $728,000.00 in Stock

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

Porch Group Trading Up 0.1%

PRCH opened at $18.15 on Friday. The stock has a fifty day simple moving average of $14.85 and a two-hundred day simple moving average of $10.43. The company has a market cap of $2.22 billion, a price-to-earnings ratio of 35.59 and a beta of 2.84. Porch Group, Inc. has a 12-month low of $1.16 and a 12-month high of $19.22.

Porch Group (NASDAQ:PRCH) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $0.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.16. The business 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. On average, analysts predict that Porch Group, Inc. will post -0.63 EPS for the current year.

Institutional Investors Weigh In On Porch Group

Several institutional investors have recently modified their holdings of PRCH. Divisadero Street Capital Management LP purchased a new stake in shares of Porch Group during the second quarter valued at $28,810,000. Hennessy Advisors Inc. purchased a new stake in shares of Porch Group during the second quarter valued at $19,607,000. Monashee Investment Management LLC purchased a new stake in shares of Porch Group during the first quarter valued at $11,300,000. Driehaus Capital Management LLC boosted its position in shares of Porch Group by 84.6% during the first quarter. Driehaus Capital Management LLC now owns 3,208,312 shares of the company’s stock valued at $23,389,000 after buying an additional 1,470,580 shares during the last quarter. Finally, Invesco Ltd. boosted its position in shares of Porch Group by 72.2% during the first quarter. Invesco Ltd. now owns 2,896,237 shares of the company’s stock valued at $21,114,000 after buying an additional 1,213,951 shares during the last quarter. 48.48% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on PRCH shares. Cantor Fitzgerald reiterated an “overweight” rating and issued a $20.00 price objective on shares of Porch Group in a report on Tuesday, September 2nd. Oppenheimer increased their price objective on Porch Group from $14.00 to $17.00 and gave the stock an “outperform” rating in a report on Wednesday, August 6th. The Goldman Sachs Group initiated coverage on Porch Group in a report on Tuesday, September 2nd. They issued a “buy” rating and a $21.00 price objective for the company. Keefe, Bruyette & Woods increased their target price on Porch Group from $7.00 to $16.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 13th. Finally, Benchmark increased their target price on Porch Group from $17.00 to $21.00 and gave the stock a “buy” rating in a research note on Wednesday. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Porch Group currently has a consensus rating of “Moderate Buy” and an average target price 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.