Insider Selling: Porch Group (NASDAQ:PRCH) CFO Sells 11,107 Shares of Stock

Porch Group, Inc. (NASDAQ:PRCH) CFO Shawn Tabak sold 11,107 shares of Porch Group stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $10.52, for a total value of $116,845.64. Following the sale, the chief financial officer directly owned 320,787 shares of the company’s stock, valued at approximately $3,374,679.24. This trade represents a 3.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available 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 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 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 stock was 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 stock was 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 stock was sold at an average price of $7.19, for a total transaction of $67,183.36.

Porch Group Stock Up 1.9%

Porch Group stock traded up $0.19 during mid-day trading on Thursday, reaching $10.43. 1,180,007 shares of the company were exchanged, compared to its average volume of 1,725,102. 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 firm has a market cap of $1.33 billion, a P/E ratio of -61.35 and a beta of 3.24. The business has a fifty day moving average of $8.09 and a 200 day moving average of $9.03. Porch Group, Inc. has a 12-month low of $6.36 and a 12-month high of $19.44.

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

Analyst Ratings Changes

Several analysts have commented on PRCH shares. Zacks Research raised shares of Porch Group from a “strong sell” rating to a “hold” rating in a research report on Friday, March 6th. Stephens started coverage on shares of Porch Group in a research note on Monday, May 4th. They set an “overweight” rating and a $12.00 price objective for the company. Keefe, Bruyette & Woods raised shares of 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 report on Wednesday, February 11th. Finally, Benchmark raised their target price on shares of Porch Group from $21.00 to $22.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Seven 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. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $17.21.

Institutional Investors Weigh In On Porch Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Aster Capital Management DIFC Ltd boosted its holdings in Porch Group by 956.3% in the third quarter. Aster Capital Management DIFC Ltd now owns 1,521 shares of the company’s stock worth $26,000 after acquiring an additional 1,377 shares in the last quarter. Larson Financial Group LLC increased its holdings in shares of Porch Group by 444.8% during the third quarter. Larson Financial Group LLC now owns 1,836 shares of the company’s stock valued at $31,000 after acquiring an additional 1,499 shares in the last quarter. RiverPark Advisors LLC purchased a new position in shares of Porch Group in the 3rd quarter valued at approximately $39,000. Osbon Capital Management LLC acquired a new stake in Porch Group in the 4th quarter worth approximately $25,000. Finally, Kemnay Advisory Services Inc. acquired a new stake in Porch Group in the 4th quarter worth approximately $38,000. 48.48% of the stock is currently owned by hedge funds and other institutional investors.

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.