Shawn Tabak Sells 3,944 Shares of Porch Group (NASDAQ:PRCH) Stock

Porch Group, Inc. (NASDAQ:PRCH) CFO Shawn Tabak sold 3,944 shares of Porch Group stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $10.87, for a total transaction of $42,871.28. Following the sale, the chief financial officer directly owned 265,495 shares in the company, valued at $2,885,930.65. This trade represents a 1.46% decrease in their ownership of the stock. The sale was disclosed in a legal 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 Tuesday, May 26th, Shawn Tabak sold 30,000 shares of Porch Group stock. The shares were sold at an average price of $10.08, for a total transaction 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 transaction 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.
• 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 transaction 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 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.

Porch Group Trading Down 4.0%

Shares of Porch Group stock opened at $9.26 on Friday. The firm has a market capitalization of $1.18 billion, a PE ratio of -54.47 and a beta of 3.22. 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’s 50 day moving average is $8.91 and its 200 day moving average is $8.68. 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 quarterly earnings results on Tuesday, April 28th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.06. Porch Group had a negative net margin of 3.41% and a negative return on equity of 115.59%. The company had revenue of $109.44 million for the quarter, compared to analyst estimates of $94.72 million. Equities research analysts forecast that Porch Group, Inc. will post -0.04 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Benchmark lifted their target price on shares of Porch Group from $21.00 to $22.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Stephens assumed coverage on shares of Porch Group in a research report on Monday, May 4th. They set an “overweight” rating and a $12.00 target price on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Porch Group in a research report on Friday, May 22nd. Zacks Research upgraded shares of Porch Group from a “strong sell” rating to a “hold” rating in a research report on Friday, March 6th. Finally, Keefe, Bruyette & Woods upgraded shares of Porch Group from a “market perform” rating to an “outperform” rating and cut their target price for the stock from $13.00 to $10.50 in a research report on Wednesday, February 11th. Seven investment 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. Based on data from MarketBeat.com, Porch Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.21.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of PRCH. GC Wealth Management RIA LLC acquired a new position in shares of Porch Group in the 1st quarter worth approximately $29,230,000. Invesco Ltd. lifted its position in shares of 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 purchasing an additional 3,103,018 shares during the period. Park West Asset Management LLC lifted its position in shares of 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 purchasing an additional 2,867,084 shares during the period. Granahan Investment Management LLC lifted its position in shares of 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 purchasing an additional 1,953,736 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in shares of Porch Group by 264.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,084,265 shares of the company’s stock worth $9,899,000 after purchasing an additional 786,583 shares during the period. Institutional investors and hedge funds 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.