Shawn Tabak Sells 11,215 Shares of Porch Group (NASDAQ:PRCH) Stock

Porch Group, Inc. (NASDAQ:PRCH) CFO Shawn Tabak sold 11,215 shares of the stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $9.79, for a total value of $109,794.85. Following the completion of the transaction, the chief financial officer owned 353,015 shares in the company, valued at approximately $3,456,016.85. The trade was a 3.08% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible 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 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 stock was sold at an average price of $7.68, for a total transaction of $60,480.00.
• On Tuesday, April 21st, Shawn Tabak sold 7,730 shares of Porch Group stock. The shares were sold at an average price of $8.12, for a total transaction 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 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 value 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 value of $67,183.36.

Porch Group Stock Down 1.2%

Shares of NASDAQ PRCH opened at $11.10 on Thursday. The stock has a market cap of $1.38 billion, a PE ratio of -65.29 and a beta of 3.24. 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 business has a 50-day moving average price of $7.82 and a 200 day moving average price of $9.20.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in PRCH. JPMorgan Chase & Co. lifted its holdings in Porch Group by 95.1% in the third quarter. JPMorgan Chase & Co. now owns 924,180 shares of the company’s stock valued at $15,508,000 after acquiring an additional 450,560 shares during the period. Vanguard Group Inc. grew its position in Porch Group by 5.6% during the third quarter. Vanguard Group Inc. now owns 7,252,134 shares of the company’s stock worth $121,691,000 after buying an additional 384,451 shares during the period. Harbor Capital Advisors Inc. boosted its position in Porch Group by 68.9% during the fourth quarter. Harbor Capital Advisors Inc. now owns 388,299 shares of the company’s stock worth $3,545,000 after purchasing an additional 158,368 shares in the last quarter. Tudor Investment Corp ET AL grew its stake in Porch Group by 1,897.9% in the 3rd quarter. Tudor Investment Corp ET AL now owns 255,511 shares of the company’s stock valued at $4,287,000 after acquiring an additional 242,722 shares during the last quarter. Finally, Algert Global LLC raised its position in shares of Porch Group by 2,254.1% during the 3rd quarter. Algert Global LLC now owns 759,664 shares of the company’s stock worth $12,747,000 after purchasing an additional 727,394 shares during the last quarter. 48.48% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PRCH has been the subject of a number of recent research reports. Benchmark increased their price target on shares of Porch Group from $21.00 to $22.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Zacks Research raised shares of Porch Group from a “strong sell” rating to a “hold” rating in a report on Friday, March 6th. Stephens initiated coverage on shares of Porch Group in a research note on Monday. They set an “overweight” rating and a $12.00 target price for the company. Finally, Keefe, Bruyette & Woods raised Porch Group from a “market perform” rating to an “outperform” rating and lowered their price target for the stock from $13.00 to $10.50 in a report on Wednesday, February 11th. Eight analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Porch Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $16.69.

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.