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

Porch Group, Inc. (NASDAQ:PRCH) CFO Shawn Tabak sold 8,367 shares of the stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $7.87, for a total transaction of $65,848.29. Following the transaction, the chief financial officer directly owned 390,289 shares of the company’s stock, valued at $3,071,574.43. This represents a 2.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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 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 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 stock was sold at an average price of $7.19, for a total transaction of $67,183.36.

Porch Group Trading Up 1.3%

NASDAQ PRCH opened at $8.05 on Thursday. The stock has a market capitalization of $1.00 billion, a P/E ratio of -161.00 and a beta of 3.09. Porch Group, Inc. has a 52-week low of $5.00 and a 52-week high of $19.44. The firm has a 50-day moving average price of $7.66 and a 200 day moving average price of $9.59. 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 posted its quarterly earnings results on Wednesday, February 11th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.05. The firm had revenue of $112.25 million during the quarter, compared to analysts’ expectations of $109.13 million. Porch Group had a negative net margin of 0.72% and a negative return on equity of 51.86%. Equities research analysts expect that Porch Group, Inc. will post 0.02 EPS for the current year.

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On Porch Group

A number of institutional investors and hedge funds have recently modified their holdings of the company. The Manufacturers Life Insurance Company grew its holdings in shares of Porch Group by 3.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 29,657 shares of the company’s stock worth $350,000 after acquiring an additional 1,090 shares during the period. Alliancebernstein L.P. grew its holdings in shares of Porch Group by 1.5% in the 3rd quarter. Alliancebernstein L.P. now owns 80,410 shares of the company’s stock worth $1,349,000 after acquiring an additional 1,200 shares during the period. Prudential Financial Inc. grew its holdings in shares of Porch Group by 9.4% in the 2nd quarter. Prudential Financial Inc. now owns 14,220 shares of the company’s stock worth $168,000 after acquiring an additional 1,220 shares during the period. Aster Capital Management DIFC Ltd grew its holdings in shares of Porch Group by 956.3% in the 3rd quarter. Aster Capital Management DIFC Ltd now owns 1,521 shares of the company’s stock worth $26,000 after acquiring an additional 1,377 shares during the period. Finally, Larson Financial Group LLC grew its holdings in shares of Porch Group by 444.8% in the 3rd quarter. Larson Financial Group LLC now owns 1,836 shares of the company’s stock worth $31,000 after acquiring an additional 1,499 shares during the period. Institutional investors and hedge funds own 48.48% of the company’s stock.

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.