Shawn Tabak Sells 30,000 Shares of Porch Group (NASDAQ:PRCH) Stock

Porch Group, Inc. (NASDAQ:PRCH) CFO Shawn Tabak sold 30,000 shares of the stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $10.08, for a total value of $302,400.00. Following the completion of the transaction, the chief financial officer directly owned 269,439 shares in the company, valued at approximately $2,715,945.12. This represents a 10.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Shawn Tabak also recently made the following trade(s):

• On Wednesday, May 20th, Shawn Tabak sold 10,881 shares of Porch Group stock. The shares were sold at an average price of $9.78, for a total value of $106,416.18.
• On Friday, May 15th, Shawn Tabak sold 10,467 shares of Porch Group stock. The shares were 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 transaction of $116,845.64.
• 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 transaction 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 transaction 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.

Porch Group Stock Up 0.8%

NASDAQ PRCH opened at $10.42 on Friday. The stock’s 50-day moving average price is $8.63 and its 200-day moving average price is $8.68. 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 company has a market capitalization of $1.33 billion, a P/E ratio of -61.29 and a beta of 3.24.

Porch Group (NASDAQ:PRCH) last posted its quarterly earnings data on Tuesday, April 28th. The company reported ($0.04) EPS for the quarter, topping the consensus estimate 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 firm had revenue of $109.44 million for the quarter, compared to the consensus estimate of $94.72 million. On average, equities research analysts predict that Porch Group, Inc. will post -0.04 earnings per share for the current year.

Institutional Trading of Porch Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in PRCH. Granahan Investment Management LLC increased its stake in Porch Group by 9.4% in the 1st quarter. Granahan Investment Management LLC now owns 12,674,987 shares of the company’s stock worth $90,880,000 after acquiring an additional 1,084,559 shares during the last quarter. Vanguard Group Inc. increased its stake in Porch Group by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 7,314,207 shares of the company’s stock worth $66,779,000 after acquiring an additional 62,073 shares during the last quarter. Park West Asset Management LLC increased its stake in Porch Group by 131.3% in the 4th quarter. Park West Asset Management LLC now owns 5,050,000 shares of the company’s stock worth $46,106,000 after acquiring an additional 2,867,084 shares during the last quarter. GC Wealth Management RIA LLC bought a new stake in Porch Group in the 1st quarter worth approximately $29,230,000. Finally, Invesco Ltd. increased its stake in Porch Group by 448.4% in the 3rd quarter. Invesco Ltd. now owns 3,795,064 shares of the company’s stock worth $63,681,000 after acquiring an additional 3,103,018 shares during the last quarter. Institutional investors own 48.48% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on PRCH shares. Benchmark raised their price objective on 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 Porch Group from a “strong sell” rating to a “hold” rating in a research note on Friday, March 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of Porch Group in a research note on Friday, May 22nd. Keefe, Bruyette & Woods raised Porch Group from a “market perform” rating to an “outperform” rating and decreased their target price for the company from $13.00 to $10.50 in a research note on Wednesday, February 11th. Finally, Stephens started coverage on Porch Group in a research note on Monday, May 4th. They set an “overweight” rating and a $12.00 target price on the stock. Seven research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price 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.