Porch Group (NASDAQ:PRCH) CFO Sells $116,882.32 in Stock

Porch Group, Inc. (NASDAQ:PRCH) CFO Shawn Tabak sold 10,511 shares of the business’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $11.12, for a total transaction of $116,882.32. Following the completion of the sale, the chief financial officer directly owned 331,894 shares of the company’s stock, valued at approximately $3,690,661.28. This trade represents a 3.07% decrease in their ownership of the stock. The sale was disclosed in a legal 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 5th, Shawn Tabak sold 10,610 shares of Porch Group stock. The stock was sold at an average price of $10.43, for a total value 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 value 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 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 shares were 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 Stock Performance

Porch Group stock traded down $0.20 during midday trading on Tuesday, hitting $10.33. 1,447,839 shares of the company’s stock were exchanged, compared to its average volume of 1,735,514. The firm’s 50 day simple moving average is $8.01 and its 200 day simple moving average is $9.11. Porch Group, Inc. has a 12-month low of $6.36 and a 12-month high of $19.44. The company has a debt-to-equity ratio of 14.87, a quick ratio of 1.28 and a current ratio of 1.28. The stock has a market cap of $1.29 billion, a price-to-earnings ratio of -60.76 and a beta of 3.24.

Porch Group (NASDAQ:PRCH) last released its quarterly earnings results on Tuesday, April 28th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.06. The firm 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 predict that Porch Group, Inc. will post -0.04 EPS for the current year.

Institutional Investors Weigh In On Porch Group

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. AQR Capital Management LLC grew its holdings in shares of Porch Group by 134.7% in the 1st quarter. AQR Capital Management LLC now owns 226,795 shares of the company’s stock worth $1,653,000 after acquiring an additional 130,166 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Porch Group by 4.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 48,275 shares of the company’s stock worth $352,000 after purchasing an additional 2,002 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in Porch Group by 2.3% during the first quarter. Goldman Sachs Group Inc. now owns 1,161,064 shares of the company’s stock worth $8,464,000 after purchasing an additional 26,119 shares in the last quarter. Creative Planning acquired a new stake in Porch Group in the second quarter valued at $136,000. Finally, Legal & General Group Plc grew its holdings in Porch Group by 1,203.8% in the second quarter. Legal & General Group Plc now owns 108,759 shares of the company’s stock valued at $1,282,000 after purchasing an additional 100,417 shares during the last quarter. 48.48% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PRCH has been the subject of several recent analyst reports. Stephens began coverage on shares of Porch Group in a research note on Monday, May 4th. They issued an “overweight” rating and a $12.00 target price for the company. Keefe, Bruyette & Woods upgraded shares of Porch Group from a “market perform” rating to an “outperform” rating and reduced their price objective for the company from $13.00 to $10.50 in a research report on Wednesday, February 11th. Zacks Research raised Porch Group from a “strong sell” rating to a “hold” rating in a report on Friday, March 6th. Finally, Benchmark raised their price target on Porch Group from $21.00 to $22.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Eight equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target 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.