Shawn Tabak Sells 11,107 Shares of Porch Group (NASDAQ:PRCH) Stock

Porch Group, Inc. (NASDAQ:PRCH) CFO Shawn Tabak sold 11,107 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $10.52, for a total value of $116,845.64. Following the completion of the sale, the chief financial officer directly owned 320,787 shares in the company, valued at $3,374,679.24. The trade was a 3.35% decrease in their ownership of the stock. The transaction 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 Friday, May 8th, Shawn Tabak sold 10,511 shares of Porch Group stock. The stock was sold at an average price of $11.12, for a total value of $116,882.32.
• 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 stock was 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 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 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 stock was sold at an average price of $7.19, for a total value of $67,183.36.

Porch Group Stock Performance

Porch Group stock opened at $9.84 on Friday. The stock’s 50 day simple moving average is $8.17 and its two-hundred day simple moving average is $9.00. 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 $1.26 billion, a price-to-earnings ratio of -57.88 and a beta of 3.24. Porch Group, Inc. has a fifty-two week low of $6.36 and a fifty-two week high of $19.44.

Porch Group (NASDAQ:PRCH) last posted its quarterly earnings data on Tuesday, April 28th. The company reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.06. The business had revenue of $109.44 million for the quarter, compared to analysts’ expectations of $94.72 million. Porch Group had a negative return on equity of 115.59% and a negative net margin of 3.41%. As a group, analysts expect that Porch Group, Inc. will post -0.04 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Porch Group

Several large investors have recently made changes to their positions in the business. Granahan Investment Management LLC lifted its holdings in shares of Porch Group by 9.4% during the first quarter. Granahan Investment Management LLC now owns 12,674,987 shares of the company’s stock valued at $90,880,000 after purchasing an additional 1,084,559 shares during the last quarter. GC Wealth Management RIA LLC purchased a new position in shares of Porch Group during the first quarter valued at approximately $29,230,000. Arrowstreet Capital Limited Partnership purchased a new position in shares of Porch Group during the first quarter valued at approximately $1,015,000. Globeflex Capital L P purchased a new position in shares of Porch Group during the first quarter valued at approximately $2,455,000. Finally, Cetera Investment Advisers purchased a new position in shares of Porch Group during the first quarter valued at approximately $74,000. 48.48% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PRCH has been the topic of several research reports. Keefe, Bruyette & Woods raised Porch Group from a “market perform” rating to an “outperform” rating and cut 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 research report on Friday, March 6th. Benchmark lifted their price objective on Porch Group from $21.00 to $22.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Finally, Stephens initiated coverage on Porch Group in a research report on Monday, May 4th. They set an “overweight” rating and a $12.00 price objective on the stock. Seven 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 stock. According to MarketBeat.com, Porch Group currently has an average rating of “Moderate Buy” and an average 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.