Porch Group (NASDAQ:PRCH) CFO Shawn Tabak Sells 8,367 Shares

Porch Group, Inc. (NASDAQ:PRCH) CFO Shawn Tabak sold 8,367 shares of Porch Group stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $7.87, for a total value of $65,848.29. Following the sale, the chief financial officer owned 390,289 shares in the company, valued at $3,071,574.43. This trade represents a 2.10% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 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, April 14th, Shawn Tabak sold 17,697 shares of Porch Group stock. The stock was 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 stock was sold at an average price of $7.15, for a total value of $55,298.10.
• On Tuesday, April 7th, Shawn Tabak sold 9,344 shares of Porch Group stock. The shares were sold at an average price of $7.19, for a total value of $67,183.36.

Porch Group Stock Performance

Shares of PRCH stock opened at $7.95 on Wednesday. The stock has a market capitalization of $989.46 million, a PE ratio of -159.00 and a beta of 3.09. Porch Group, Inc. has a 52-week low of $4.68 and a 52-week high of $19.44. The stock’s 50-day moving average price is $7.65 and its 200 day moving average price is $9.60. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 17.20.

Porch Group (NASDAQ:PRCH) last issued its quarterly earnings results on Wednesday, February 11th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.05. The firm had revenue of $112.25 million for the quarter, compared to analysts’ expectations of $109.13 million. Porch Group had a negative return on equity of 51.86% and a negative net margin of 0.72%. As a group, equities research analysts forecast that Porch Group, Inc. will post 0.02 EPS for the current year.

Analyst Upgrades and Downgrades

PRCH has been the topic of several recent research reports. Benchmark restated a “buy” rating on shares of Porch Group in a research report on Friday, January 16th. Zacks Research upgraded Porch Group from a “strong sell” rating to a “hold” rating in a research report on Friday, March 6th. Weiss Ratings restated a “sell (d+)” rating on shares of Porch Group in a research report on Monday, December 29th. Finally, Keefe, Bruyette & Woods upgraded Porch Group from a “market perform” rating to an “outperform” rating and dropped their price target for the company from $13.00 to $10.50 in a research report on Wednesday, February 11th. Seven analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $17.21.

Hedge Funds Weigh In On Porch Group

A number of large investors have recently modified their holdings of PRCH. Osbon Capital Management LLC purchased a new position in shares of Porch Group during the 4th quarter worth approximately $25,000. Aster Capital Management DIFC Ltd raised its stake in shares of Porch Group by 956.3% during the 3rd quarter. Aster Capital Management DIFC Ltd now owns 1,521 shares of the company’s stock worth $26,000 after buying an additional 1,377 shares in the last quarter. Larson Financial Group LLC raised its stake in shares of Porch Group by 444.8% during the 3rd quarter. Larson Financial Group LLC now owns 1,836 shares of the company’s stock worth $31,000 after buying an additional 1,499 shares in the last quarter. Kemnay Advisory Services Inc. purchased a new position in shares of Porch Group during the 4th quarter worth approximately $38,000. Finally, RiverPark Advisors LLC purchased a new position in shares of Porch Group during the 3rd quarter worth approximately $39,000. 48.48% of the stock is owned by hedge funds and other institutional investors.

Porch Group Company Profile

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.