Porch Group (NASDAQ:PRCH) CFO Sells $42,871.28 in Stock

Porch Group, Inc. (NASDAQ:PRCH) CFO Shawn Tabak sold 3,944 shares of Porch Group stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $10.87, for a total value of $42,871.28. Following the completion of the transaction, the chief financial officer directly owned 265,495 shares of the company’s stock, valued at approximately $2,885,930.65. This trade represents a 1.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through 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 Tuesday, May 26th, Shawn Tabak sold 30,000 shares of Porch Group stock. The stock was sold at an average price of $10.08, for a total value of $302,400.00.
• 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 value 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 value 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 value 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 value 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 value 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 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 value 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 value 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 value of $62,767.60.

Porch Group Stock Down 2.9%

Shares of PRCH traded down $0.29 during trading hours on Thursday, hitting $9.65. The stock had a trading volume of 1,272,480 shares, compared to its average volume of 1,708,381. 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 firm has a 50 day simple moving average of $8.83 and a 200-day simple moving average of $8.67. The firm has a market capitalization of $1.23 billion, a P/E ratio of -56.76 and a beta of 3.22. Porch Group, Inc. has a 1-year low of $6.36 and a 1-year high of $19.44.

Porch Group (NASDAQ:PRCH) last issued its earnings results on Tuesday, April 28th. The company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.10) by $0.06. The company had revenue of $109.44 million during 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%. Sell-side analysts predict that Porch Group, Inc. will post -0.04 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Stephens assumed coverage on Porch Group in a research note on Monday, May 4th. They issued an “overweight” rating and a $12.00 target price for the company. Keefe, Bruyette & Woods upgraded 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. Weiss Ratings restated a “sell (d-)” rating on shares of Porch Group in a research note on Friday, May 22nd. Zacks Research upgraded Porch Group from a “strong sell” rating to a “hold” rating in a research note on Friday, March 6th. Finally, Benchmark raised their target price on Porch Group from $21.00 to $22.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Seven investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $17.21.

Hedge Funds Weigh In On Porch Group

A number of hedge funds have recently added to or reduced their stakes in the stock. Bank of America Corp DE boosted its stake in Porch Group by 34.8% during the 1st quarter. Bank of America Corp DE now owns 364,015 shares of the company’s stock valued at $2,610,000 after purchasing an additional 94,033 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in Porch Group by 3,773.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 15,339 shares of the company’s stock valued at $110,000 after purchasing an additional 14,943 shares during the last quarter. California State Teachers Retirement System boosted its stake in Porch Group by 41.4% during the 1st quarter. California State Teachers Retirement System now owns 90,632 shares of the company’s stock valued at $650,000 after purchasing an additional 26,528 shares during the last quarter. Ashford Capital Management Inc. boosted its stake in Porch Group by 72.0% during the 1st quarter. Ashford Capital Management Inc. now owns 696,180 shares of the company’s stock valued at $4,992,000 after purchasing an additional 291,510 shares during the last quarter. Finally, Quantinno Capital Management LP boosted its stake in Porch Group by 195.9% during the 1st quarter. Quantinno Capital Management LP now owns 73,939 shares of the company’s stock valued at $530,000 after purchasing an additional 48,949 shares during the last quarter. Institutional investors and hedge funds own 48.48% of the company’s stock.

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.