Porch Group (NASDAQ:PRCH) CFO Shawn Tabak Sells 10,467 Shares

Porch Group, Inc. (NASDAQ:PRCH) CFO Shawn Tabak sold 10,467 shares of the firm’s stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $10.34, for a total transaction of $108,228.78. Following the completion of the sale, the chief financial officer directly owned 310,320 shares in the company, valued at $3,208,708.80. This represents a 3.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• On Tuesday, May 12th, Shawn Tabak sold 11,107 shares of Porch Group stock. The stock was sold at an average price of $10.52, for a total transaction of $116,845.64.
• On Friday, May 8th, Shawn Tabak sold 10,511 shares of Porch Group stock. The stock was sold at an average price of $11.12, for a total transaction of $116,882.32.
• On Tuesday, May 5th, Shawn Tabak sold 10,610 shares of Porch Group stock. The shares were sold at an average price of $10.43, for a total transaction of $110,662.30.
• On Friday, May 1st, Shawn Tabak sold 11,215 shares of Porch Group stock. The stock was sold at an average price of $9.79, for a total transaction of $109,794.85.
• On Tuesday, April 28th, Shawn Tabak sold 10,454 shares of Porch Group stock. The shares were sold at an average price of $8.11, for a total value of $84,781.94.
• On Friday, April 24th, Shawn Tabak sold 7,875 shares of Porch Group stock. The shares were sold at an average price of $7.68, for a total value of $60,480.00.
• On Tuesday, April 21st, Shawn Tabak sold 7,730 shares of Porch Group stock. The stock was sold at an average price of $8.12, for a total value of $62,767.60.
• On Friday, April 17th, Shawn Tabak sold 8,367 shares of Porch Group stock. The stock was sold at an average price of $7.87, for a total value of $65,848.29.
• On Tuesday, April 14th, Shawn Tabak sold 17,697 shares of Porch Group stock. The shares were sold at an average price of $6.84, for a total value of $121,047.48.
• On Thursday, April 9th, Shawn Tabak sold 7,734 shares of Porch Group stock. The shares were sold at an average price of $7.15, for a total value of $55,298.10.

Porch Group Trading Down 2.0%

Shares of Porch Group stock traded down $0.20 during trading on Tuesday, reaching $9.77. The company’s stock had a trading volume of 2,311,762 shares, compared to its average volume of 1,751,203. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 14.87. Porch Group, Inc. has a 52-week low of $6.36 and a 52-week high of $19.44. The firm’s 50-day moving average is $8.21 and its two-hundred day moving average is $8.91. The company has a market cap of $1.25 billion, a price-to-earnings ratio of -57.47 and a beta of 3.24.

Porch Group (NASDAQ:PRCH) last issued its earnings results on Tuesday, April 28th. The company reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.06. Porch Group had a negative net margin of 3.41% and a negative return on equity of 115.59%. The company had revenue of $109.44 million for the quarter, compared to analysts’ expectations of $94.72 million. On average, sell-side analysts anticipate that Porch Group, Inc. will post -0.04 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on PRCH. Stephens began coverage on Porch Group in a research report on Monday, May 4th. They set an “overweight” rating and a $12.00 price target on the stock. Keefe, Bruyette & Woods raised Porch Group from a “market perform” rating to an “outperform” rating and dropped their price objective for the company from $13.00 to $10.50 in a research note on Wednesday, February 11th. Benchmark raised their target price on shares of Porch Group from $21.00 to $22.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Finally, Zacks Research raised shares of Porch Group from a “strong sell” rating to a “hold” rating in a research note on Friday, March 6th. Seven research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $17.21.

Institutional Investors Weigh In On Porch Group

Institutional investors and hedge funds have recently bought and sold shares of the business. Osbon Capital Management LLC bought a new stake in shares of Porch Group in the 4th quarter worth approximately $25,000. Aster Capital Management DIFC Ltd raised its holdings in shares of Porch Group by 956.3% during the third quarter. Aster Capital Management DIFC Ltd now owns 1,521 shares of the company’s stock valued at $26,000 after acquiring an additional 1,377 shares in the last quarter. Larson Financial Group LLC raised its holdings in shares of Porch Group by 444.8% during the third quarter. Larson Financial Group LLC now owns 1,836 shares of the company’s stock valued at $31,000 after acquiring an additional 1,499 shares in the last quarter. Kemnay Advisory Services Inc. purchased a new stake in Porch Group in the fourth quarter worth $38,000. Finally, RiverPark Advisors LLC bought a new stake in Porch Group in the third quarter valued at $39,000. Hedge funds and other institutional investors own 48.48% of the company’s stock.

About Porch Group

Porch Group, Inc operates a technology-driven home services platform designed to connect homeowners with professional contractors, maintenance providers and home improvement specialists. Through its online marketplace and proprietary software solutions, Porch enables users to research, compare and book services ranging from home repairs and remodeling to maintenance and renovations. The company’s platform integrates detailed provider profiles, customer reviews and real-time appointment scheduling to streamline the process of sourcing and managing home projects.

In addition to its core marketplace, Porch offers software products tailored for service professionals.