Porch Group (NASDAQ:PRCH) CFO Shawn Tabak Sells 30,000 Shares

Porch Group, Inc. (NASDAQ:PRCH) CFO Shawn Tabak sold 30,000 shares of the company’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $10.08, for a total transaction of $302,400.00. Following the completion of the transaction, the chief financial officer owned 269,439 shares of the company’s stock, valued at approximately $2,715,945.12. This trade represents a 10.02% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Shawn Tabak also recently made the following trade(s):

• On Wednesday, May 20th, Shawn Tabak sold 10,881 shares of Porch Group stock. The stock was 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 stock was 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 stock was 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 stock was 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 stock was 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 stock was 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 stock was 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 stock was sold at an average price of $7.87, for a total transaction of $65,848.29.

Porch Group Trading Up 1.7%

Porch Group stock opened at $10.34 on Friday. Porch Group, Inc. has a 12-month low of $6.36 and a 12-month high of $19.44. The company has a debt-to-equity ratio of 14.87, a current ratio of 1.28 and a quick ratio of 1.28. The stock has a market capitalization of $1.32 billion, a PE ratio of -60.82 and a beta of 3.24. The firm has a 50 day simple moving average of $8.57 and a 200-day simple moving average of $8.67.

Porch Group (NASDAQ:PRCH) last posted its quarterly earnings data on Tuesday, April 28th. The company reported ($0.04) EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $109.44 million for the quarter, compared to analyst estimates of $94.72 million. As a group, equities research analysts expect that Porch Group, Inc. will post -0.04 EPS for the current fiscal year.

Institutional Trading of Porch Group

Large investors have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company boosted its stake in Porch Group by 3.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 29,657 shares of the company’s stock worth $350,000 after purchasing an additional 1,090 shares during the period. Alliancebernstein L.P. boosted its stake in Porch Group by 1.5% in the 3rd quarter. Alliancebernstein L.P. now owns 80,410 shares of the company’s stock worth $1,349,000 after purchasing an additional 1,200 shares during the period. Prudential Financial Inc. boosted its stake in Porch Group by 9.4% in the 2nd quarter. Prudential Financial Inc. now owns 14,220 shares of the company’s stock worth $168,000 after purchasing an additional 1,220 shares during the period. Aster Capital Management DIFC Ltd boosted its stake in Porch Group by 956.3% in the 3rd quarter. Aster Capital Management DIFC Ltd now owns 1,521 shares of the company’s stock worth $26,000 after purchasing an additional 1,377 shares during the period. Finally, Larson Financial Group LLC boosted its stake in Porch Group by 444.8% in the 3rd quarter. Larson Financial Group LLC now owns 1,836 shares of the company’s stock worth $31,000 after purchasing an additional 1,499 shares during the period. 48.48% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

PRCH has been the topic of a number of research analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Porch Group in a research note on Friday, May 22nd. Keefe, Bruyette & Woods upgraded shares of Porch Group from a “market perform” rating to an “outperform” rating and lowered their price objective for the company from $13.00 to $10.50 in a research note on Wednesday, February 11th. Benchmark raised their price objective 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. 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, Stephens initiated 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 on the stock. Seven equities 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 stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price 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.