Porch Group (NASDAQ:PRCH) CFO Shawn Tabak Sells 25,000 Shares of Stock

Porch Group, Inc. (NASDAQ:PRCH) CFO Shawn Tabak sold 25,000 shares of the stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $16.13, for a total transaction of $403,250.00. Following the completion of the transaction, the chief financial officer owned 240,495 shares in the company, valued at approximately $3,879,184.35. This trade represents a 9.42% decrease in their position. The sale was disclosed in a document filed 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 Tuesday, June 2nd, Shawn Tabak sold 3,944 shares of Porch Group stock. The shares were sold at an average price of $10.87, for a total transaction of $42,871.28.
• On Tuesday, May 26th, Shawn Tabak sold 30,000 shares of Porch Group stock. The shares were sold at an average price of $10.08, for a total transaction 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 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 shares were 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 shares were 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 shares were 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 value 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 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.

Porch Group Stock Performance

Shares of PRCH traded down $0.20 during mid-day trading on Tuesday, reaching $14.68. The company had a trading volume of 2,165,383 shares, compared to its average volume of 1,796,957. Porch Group, Inc. has a 52-week low of $6.36 and a 52-week high of $19.44. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 14.87. The stock has a market capitalization of $1.87 billion, a P/E ratio of -86.35 and a beta of 3.13. The stock has a 50 day moving average of $11.08 and a two-hundred day moving average of $9.11.

Porch Group (NASDAQ:PRCH) last announced its quarterly 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 company had revenue of $109.44 million during 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%. On average, analysts expect that Porch Group, Inc. will post -0.04 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on PRCH shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Porch Group in a report on Friday, May 22nd. Stephens initiated coverage on shares of Porch Group in a report on Monday, May 4th. They set an “overweight” rating and a $12.00 price target on the stock. Finally, Benchmark raised their price target on shares of Porch Group from $21.00 to $22.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Seven equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.58.

Institutional Trading of Porch Group

Institutional investors have recently bought and sold shares of the business. GC Wealth Management RIA LLC acquired a new position in shares of Porch Group during the 1st quarter worth approximately $29,230,000. Invesco Ltd. grew its stake in Porch Group by 448.4% in the 3rd quarter. Invesco Ltd. now owns 3,795,064 shares of the company’s stock valued at $63,681,000 after acquiring an additional 3,103,018 shares during the period. Park West Asset Management LLC increased its holdings in Porch Group by 131.3% in the 4th quarter. Park West Asset Management LLC now owns 5,050,000 shares of the company’s stock worth $46,106,000 after acquiring an additional 2,867,084 shares in the last quarter. Granahan Investment Management LLC increased its holdings in Porch Group by 20.3% in the 4th quarter. Granahan Investment Management LLC now owns 11,590,428 shares of the company’s stock worth $105,821,000 after acquiring an additional 1,953,736 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Porch Group by 264.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,084,265 shares of the company’s stock worth $9,899,000 after acquiring an additional 786,583 shares during the period. 48.48% of the stock is owned by institutional investors and hedge funds.

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.