Porch Group (NASDAQ:PRCH) CFO Shawn Tabak Sells 17,697 Shares of Stock

Porch Group, Inc. (NASDAQ:PRCH) CFO Shawn Tabak sold 17,697 shares of Porch Group stock in a transaction that occurred on Tuesday, April 14th. The shares were sold at an average price of $6.84, for a total value of $121,047.48. Following the sale, the chief financial officer directly owned 398,656 shares in the company, valued at $2,726,807.04. The trade was a 4.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 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 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 value 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 value of $67,183.36.

Porch Group Stock Up 3.6%

NASDAQ PRCH opened at $7.71 on Friday. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 17.20. The stock’s 50 day moving average is $7.61 and its two-hundred day moving average is $9.89. The company has a market capitalization of $959.59 million, a price-to-earnings ratio of -154.20 and a beta of 3.09. Porch Group, Inc. has a 1-year low of $4.64 and a 1-year high of $19.44.

Porch Group (NASDAQ:PRCH) last released its quarterly earnings data on Wednesday, February 11th. The company reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.05. The company had revenue of $112.25 million for the quarter, compared to the consensus estimate of $109.13 million. Porch Group had a negative return on equity of 51.86% and a negative net margin of 0.72%. Equities analysts forecast that Porch Group, Inc. will post -0.63 earnings per share for the current fiscal year.

Analysts Set New Price Targets

PRCH has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods upgraded shares of Porch Group from a “market perform” rating to an “outperform” rating and cut their target price for the company from $13.00 to $10.50 in a research note on Wednesday, February 11th. Benchmark reiterated a “buy” rating on shares of Porch Group in a research note on Friday, January 16th. Zacks Research upgraded shares of Porch Group from a “strong sell” rating to a “hold” rating in a research note on Friday, March 6th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Porch Group in a research note on Monday, December 29th. Seven 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 MarketBeat.com, Porch Group currently has a consensus rating of “Moderate Buy” and an average price target of $17.21.

Institutional Trading of Porch Group

A number of hedge funds and other institutional investors have recently modified their holdings of PRCH. Osbon Capital Management LLC acquired a new stake in shares of Porch Group in the fourth quarter valued at approximately $25,000. Aster Capital Management DIFC Ltd increased its holdings in shares of Porch Group by 956.3% in the third quarter. Aster Capital Management DIFC Ltd now owns 1,521 shares of the company’s stock valued at $26,000 after purchasing an additional 1,377 shares in the last quarter. Larson Financial Group LLC increased its holdings in shares of Porch Group by 444.8% in the third quarter. Larson Financial Group LLC now owns 1,836 shares of the company’s stock valued at $31,000 after purchasing an additional 1,499 shares in the last quarter. Kemnay Advisory Services Inc. acquired a new stake in shares of Porch Group in the fourth quarter valued at approximately $38,000. Finally, RiverPark Advisors LLC acquired a new stake in shares of Porch Group in the third quarter valued at approximately $39,000. 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.