Insider Selling: Porch Group (NASDAQ:PRCH) CFO Sells $109,794.85 in Stock

Porch Group, Inc. (NASDAQ:PRCH) CFO Shawn Tabak sold 11,215 shares of the company’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $9.79, for a total value of $109,794.85. Following the sale, the chief financial officer owned 353,015 shares of the company’s stock, valued at approximately $3,456,016.85. This trade represents a 3.08% decrease in their position. The transaction was disclosed in a 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 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 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 value 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 value 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 value 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 value of $65,848.29.
• On Tuesday, April 14th, Shawn Tabak sold 17,697 shares of Porch Group stock. The shares were sold at an average price of $6.84, for a total value of $121,047.48.
• 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 Price Performance

Shares of NASDAQ:PRCH opened at $11.28 on Friday. The business has a 50 day moving average price of $7.89 and a 200 day moving average price of $9.18. Porch Group, Inc. has a twelve month low of $6.36 and a twelve month high of $19.44. The company has a market cap of $1.40 billion, a price-to-earnings ratio of -66.35 and a beta of 3.24. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 14.87.

Porch Group (NASDAQ:PRCH) last announced its earnings results on Tuesday, April 28th. The company reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.06. The firm 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%. 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

A number of hedge funds have recently modified their holdings of the stock. The Manufacturers Life Insurance Company raised its holdings in shares of 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 buying an additional 1,090 shares in the last quarter. Alliancebernstein L.P. raised its holdings in shares of 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 buying an additional 1,200 shares in the last quarter. Prudential Financial Inc. raised its holdings in shares of 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 buying an additional 1,220 shares in the last quarter. Aster Capital Management DIFC Ltd raised its holdings in shares of 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 buying an additional 1,377 shares in the last quarter. Finally, Larson Financial Group LLC increased its holdings in Porch Group by 444.8% during the 3rd 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. 48.48% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have commented on PRCH shares. Stephens started coverage on Porch Group in a research report on Monday. They issued an “overweight” rating and a $12.00 price objective for the company. Keefe, Bruyette & Woods upgraded Porch Group from a “market perform” rating to an “outperform” rating and reduced their price objective for the stock from $13.00 to $10.50 in a research report on Wednesday, February 11th. Benchmark raised their price objective on Porch Group from $21.00 to $22.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Finally, Zacks Research upgraded Porch Group from a “strong sell” rating to a “hold” rating in a research report on Friday, March 6th. Eight research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Porch Group presently has an average rating of “Moderate Buy” and an average price target of $16.69.

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.