Shawn Tabak Sells 25,000 Shares of Porch Group (NASDAQ:PRCH) Stock

Porch Group, Inc. (NASDAQ:PRCH) CFO Shawn Tabak sold 25,000 shares of the company’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $16.21, for a total transaction of $405,250.00. Following the completion of the sale, the chief financial officer directly owned 215,495 shares in the company, valued at approximately $3,493,173.95. The trade was a 10.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed 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 Thursday, July 2nd, Shawn Tabak sold 25,000 shares of Porch Group stock. The shares were sold at an average price of $16.13, for a total value of $403,250.00.
• On Tuesday, June 2nd, Shawn Tabak sold 3,944 shares of Porch Group stock. The stock was sold at an average price of $10.87, for a total value of $42,871.28.
• On Tuesday, May 26th, Shawn Tabak sold 30,000 shares of Porch Group stock. The stock was sold at an average price of $10.08, for a total value of $302,400.00.
• 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 transaction of $108,228.78.
• On Tuesday, May 12th, Shawn Tabak sold 11,107 shares of Porch Group stock. The shares were sold at an average price of $10.52, for a total transaction of $116,845.64.

Porch Group Trading Up 2.7%

Shares of Porch Group stock opened at $15.85 on Friday. The firm has a 50-day simple moving average of $13.00 and a two-hundred day simple moving average of $9.92. The company has a debt-to-equity ratio of 20.53, a quick ratio of 1.45 and a current ratio of 1.45. Porch Group, Inc. has a fifty-two week low of $6.36 and a fifty-two week high of $19.44. The company has a market cap of $2.02 billion, a P/E ratio of -132.08 and a beta of 3.15.

Porch Group (NASDAQ:PRCH) last posted its earnings results on Wednesday, July 29th. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.08. The firm had revenue of $131.81 million for the quarter, compared to analysts’ expectations of $122.30 million. Porch Group had a negative return on equity of 68.47% and a negative net margin of 2.67%. As a group, equities analysts predict that Porch Group, Inc. will post -0.09 earnings per share for the current fiscal year.

Institutional Trading of Porch Group

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

Analysts Set New Price Targets

PRCH has been the subject of a number of research analyst reports. Weiss Ratings upgraded shares of Porch Group from a “sell (d-)” rating to a “sell (d+)” rating in a research report on Thursday, July 30th. Stephens began coverage on Porch Group in a research note on Monday, May 4th. They set an “overweight” rating and a $12.00 price objective for the company. Benchmark increased their target price on Porch Group from $22.00 to $23.00 and gave the company a “buy” rating in a report on Thursday, July 30th. B. Riley Financial raised their target price on Porch Group from $19.00 to $21.00 and gave the company a “buy” rating in a research report on Monday, August 3rd. Finally, Keefe, Bruyette & Woods lifted their price target on Porch Group from $16.25 to $16.50 and gave the stock a “market perform” rating in a research note on Thursday, July 30th. Six research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $18.79.

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.