Porch Group (NASDAQ:PRCH) CFO Shawn Tabak Sells 10,511 Shares

Porch Group, Inc. (NASDAQ:PRCH) CFO Shawn Tabak sold 10,511 shares of the business’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $11.12, for a total transaction of $116,882.32. Following the completion of the transaction, the chief financial officer owned 331,894 shares of the company’s stock, valued at approximately $3,690,661.28. The trade was a 3.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 shares were 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 shares were sold at an average price of $9.79, for a total transaction 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 transaction 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 transaction 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 transaction 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 transaction 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 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 shares were sold at an average price of $7.19, for a total transaction of $67,183.36.

Porch Group Price Performance

Shares of PRCH opened at $10.33 on Wednesday. The firm has a market cap of $1.32 billion, a PE ratio of -60.76 and a beta of 3.24. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 14.87. The firm has a fifty day simple moving average of $8.05 and a two-hundred day simple moving average of $9.08. Porch Group, Inc. has a 1-year low of $6.36 and a 1-year high of $19.44.

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

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Keefe, Bruyette & Woods upgraded Porch Group from a “market perform” rating to an “outperform” rating and reduced their price objective for the stock from $13.00 to $10.50 in a research note on Wednesday, February 11th. Benchmark upped 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 upgraded Porch Group from a “strong sell” rating to a “hold” rating in a research note on Friday, March 6th. Finally, Stephens assumed coverage on Porch Group in a research note on Monday, May 4th. They issued an “overweight” rating and a $12.00 price objective for the company. Eight equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $16.69.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Granahan Investment Management LLC boosted its holdings in Porch Group by 20.3% in the 4th quarter. Granahan Investment Management LLC now owns 11,590,428 shares of the company’s stock worth $105,821,000 after buying an additional 1,953,736 shares during the period. Vanguard Group Inc. boosted its holdings 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 buying an additional 62,073 shares during the period. Park West Asset Management LLC boosted its holdings 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 buying an additional 2,867,084 shares during the period. Invesco Ltd. boosted its holdings 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 buying an additional 3,103,018 shares during the period. Finally, Divisadero Street Capital Management LP boosted its holdings in Porch Group by 6.7% in the 3rd quarter. Divisadero Street Capital Management LP now owns 2,606,883 shares of the company’s stock worth $43,743,000 after buying an additional 163,271 shares during the period. Institutional investors own 48.48% of the company’s stock.

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.