Porch Group (NASDAQ:PRCH) CFO Sells $106,952.94 in Stock

Porch Group, Inc. (NASDAQ:PRCH) CFO Shawn Tabak sold 10,706 shares of the company’s stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $9.99, for a total transaction of $106,952.94. Following the completion of the transaction, the chief financial officer owned 142,424 shares in the company, valued at $1,422,815.76. This represents a 6.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Shawn Tabak also recently made the following trade(s):

• On Monday, December 15th, Shawn Tabak sold 24,294 shares of Porch Group stock. The stock was sold at an average price of $9.66, for a total value of $234,680.04.
• On Thursday, December 4th, Shawn Tabak sold 22,216 shares of Porch Group stock. The shares were sold at an average price of $9.52, for a total value of $211,496.32.

Porch Group Stock Performance

Shares of Porch Group stock opened at $8.87 on Thursday. Porch Group, Inc. has a 12 month low of $3.72 and a 12 month high of $19.44. The stock’s fifty day moving average price is $12.02 and its 200-day moving average price is $13.55. The firm has a market cap of $1.10 billion, a P/E ratio of 30.59 and a beta of 3.11. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 36.18.

Porch Group (NASDAQ:PRCH) last released its quarterly earnings data on Wednesday, November 5th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.02). The business had revenue of $118.08 million for the quarter, compared to the consensus estimate of $114.42 million. Porch Group had a net margin of 6.91% and a negative return on equity of 51.86%. On average, equities research analysts expect that Porch Group, Inc. will post -0.63 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have commented on the stock. Cantor Fitzgerald reissued an “overweight” rating and set a $20.00 price target on shares of Porch Group in a research report on Tuesday, September 2nd. B. Riley reissued a “buy” rating on shares of Porch Group in a research report on Thursday, November 6th. Zacks Research upgraded shares of Porch Group from a “strong sell” rating to a “hold” rating in a research note on Thursday, December 4th. Weiss Ratings downgraded Porch Group from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday. Finally, Benchmark reiterated a “buy” rating on shares of Porch Group in a report on Tuesday, November 25th. Seven equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Porch Group has a consensus rating of “Moderate Buy” and a consensus price target of $17.00.

Institutional Trading of Porch Group

Several large investors have recently bought and sold shares of PRCH. Vanguard Group Inc. raised its holdings in shares of Porch Group by 5.7% in the first quarter. Vanguard Group Inc. now owns 5,823,961 shares of the company’s stock worth $42,457,000 after buying an additional 312,370 shares during the last quarter. Deutsche Bank AG increased its position in shares of Porch Group by 5.6% in the 1st quarter. Deutsche Bank AG now owns 53,845 shares of the company’s stock valued at $393,000 after acquiring an additional 2,872 shares during the period. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Porch Group in the 1st quarter worth $812,000. Invesco Ltd. lifted its position in Porch Group by 72.2% during the 1st quarter. Invesco Ltd. now owns 2,896,237 shares of the company’s stock worth $21,114,000 after acquiring an additional 1,213,951 shares during the period. Finally, HighTower Advisors LLC acquired a new stake in Porch Group during the 1st quarter worth about $983,000. Hedge funds and other institutional investors own 48.48% of the company’s stock.

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.