Porch Group (NASDAQ:PRCH) CFO Sells $106,416.18 in Stock

Porch Group, Inc. (NASDAQ:PRCH) CFO Shawn Tabak sold 10,881 shares of Porch Group stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $9.78, for a total value of $106,416.18. Following the transaction, the chief financial officer owned 299,439 shares in the company, valued at approximately $2,928,513.42. The trade was a 3.51% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 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 15th, Shawn Tabak sold 10,467 shares of Porch Group stock. The stock was sold at an average price of $10.34, for a total value of $108,228.78.
• On Tuesday, May 12th, Shawn Tabak sold 11,107 shares of Porch Group stock. The stock was sold at an average price of $10.52, for a total value of $116,845.64.
• On Friday, May 8th, Shawn Tabak sold 10,511 shares of Porch Group stock. The shares were 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 shares were 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 shares were 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 shares were 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 shares were 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 shares were sold at an average price of $6.84, for a total value of $121,047.48.

Porch Group Price Performance

NASDAQ:PRCH opened at $9.56 on Friday. Porch Group, Inc. has a 52 week low of $6.36 and a 52 week high of $19.44. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 14.87. The company has a market capitalization of $1.22 billion, a P/E ratio of -56.23 and a beta of 3.24. The stock’s fifty day moving average is $8.37 and its two-hundred day moving average is $8.79.

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

Institutional Investors Weigh In On Porch Group

Several institutional investors and hedge funds have recently modified their holdings of the company. Bank of America Corp DE raised its holdings in shares of Porch Group by 34.8% in the 1st quarter. Bank of America Corp DE now owns 364,015 shares of the company’s stock valued at $2,610,000 after buying an additional 94,033 shares during the period. EverSource Wealth Advisors LLC raised its holdings in shares of Porch Group by 3,773.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 15,339 shares of the company’s stock valued at $110,000 after buying an additional 14,943 shares during the period. California State Teachers Retirement System raised its holdings in shares of Porch Group by 41.4% in the 1st quarter. California State Teachers Retirement System now owns 90,632 shares of the company’s stock valued at $650,000 after buying an additional 26,528 shares during the period. Ashford Capital Management Inc. raised its holdings in shares of Porch Group by 72.0% in the 1st quarter. Ashford Capital Management Inc. now owns 696,180 shares of the company’s stock valued at $4,992,000 after buying an additional 291,510 shares during the period. Finally, Quantinno Capital Management LP raised its holdings in shares of Porch Group by 195.9% in the 1st quarter. Quantinno Capital Management LP now owns 73,939 shares of the company’s stock valued at $530,000 after buying an additional 48,949 shares during the period. Hedge funds and other institutional investors own 48.48% of the company’s stock.

Wall Street Analyst Weigh In

PRCH has been the topic of a number of research analyst reports. Stephens initiated coverage on Porch Group in a research report on Monday, May 4th. They issued an “overweight” rating and a $12.00 target price on the stock. Keefe, Bruyette & Woods upgraded Porch Group from a “market perform” rating to an “outperform” rating and reduced their target price for the company from $13.00 to $10.50 in a research report on Wednesday, February 11th. Zacks Research upgraded Porch Group from a “strong sell” rating to a “hold” rating in a report on Friday, March 6th. Finally, Benchmark boosted their price objective on Porch Group from $21.00 to $22.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Seven 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 stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $17.21.

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.