Shawn Tabak Sells 7,730 Shares of Porch Group (NASDAQ:PRCH) Stock

Porch Group, Inc. (NASDAQ:PRCH) CFO Shawn Tabak sold 7,730 shares of the business’s stock in a transaction that occurred on Tuesday, April 21st. The shares were sold at an average price of $8.12, for a total value of $62,767.60. Following the completion of the sale, the chief financial officer owned 382,559 shares of the company’s stock, valued at approximately $3,106,379.08. This represents a 1.98% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 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 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 transaction 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 transaction 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 transaction 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 transaction of $67,183.36.

Porch Group Stock Performance

Shares of NASDAQ:PRCH traded down $0.36 on Thursday, reaching $7.69. The company’s stock had a trading volume of 2,422,213 shares, compared to its average volume of 1,552,813. The stock has a market capitalization of $957.11 million, a P/E ratio of -153.80 and a beta of 3.09. Porch Group, Inc. has a 52-week low of $5.06 and a 52-week high of $19.44. The stock’s 50-day moving average is $7.66 and its two-hundred day moving average is $9.59. The company has a debt-to-equity ratio of 17.20, a current ratio of 1.30 and a quick ratio of 1.30.

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, sell-side analysts forecast that Porch Group, Inc. will post 0.02 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. SmartHarvest Portfolios LLC purchased a new position in Porch Group in the first quarter valued at about $108,000. Diversified Trust Co increased its holdings in Porch Group by 19.7% in the first quarter. Diversified Trust Co now owns 33,287 shares of the company’s stock valued at $239,000 after buying an additional 5,487 shares in the last quarter. Osbon Capital Management LLC purchased a new position in Porch Group in the fourth quarter valued at about $25,000. Alpine Global Management LLC increased its holdings in Porch Group by 45.5% in the fourth quarter. Alpine Global Management LLC now owns 11,636 shares of the company’s stock valued at $106,000 after buying an additional 3,636 shares in the last quarter. Finally, Beartown Capital Management LLC purchased a new position in Porch Group in the fourth quarter valued at about $4,108,000. 48.48% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

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.