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

Porch Group, Inc. (NASDAQ:PRCH) CFO Shawn Tabak sold 10,511 shares of Porch Group stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $11.12, for a total value of $116,882.32. Following the completion of the sale, the chief financial officer directly owned 331,894 shares in the company, valued at approximately $3,690,661.28. The trade was a 3.07% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 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 transaction 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 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 stock was 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 stock was 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 Stock Down 0.9%

Shares of NASDAQ:PRCH opened at $10.24 on Thursday. The company has a market cap of $1.31 billion, a price-to-earnings ratio of -60.23 and a beta of 3.24. Porch Group, Inc. has a 12 month low of $6.36 and a 12 month high of $19.44. 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 company has a 50-day moving average price of $8.09 and a 200 day moving average price of $9.03.

Porch Group (NASDAQ:PRCH) last issued its quarterly earnings data on Tuesday, April 28th. The company reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.06. The company had revenue of $109.44 million for the quarter, compared to analysts’ expectations of $94.72 million. Porch Group had a negative return on equity of 115.59% and a negative net margin of 3.41%. As a group, equities research analysts predict that Porch Group, Inc. will post -0.04 earnings per share for the current year.

Hedge Funds Weigh In On Porch Group

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

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Stephens assumed coverage on Porch Group in a research report on Monday, May 4th. They issued an “overweight” rating and a $12.00 price target for the company. Keefe, Bruyette & Woods raised shares of Porch Group from a “market perform” rating to an “outperform” rating and reduced their target price for the company from $13.00 to $10.50 in a research note on Wednesday, February 11th. Zacks Research upgraded shares of Porch Group from a “strong sell” rating to a “hold” rating in a report on Friday, March 6th. Finally, Benchmark lifted their price target on shares of Porch Group from $21.00 to $22.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Seven research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.21.

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.