Insider Selling: Porch Group (NASDAQ:PRCH) CFO Sells $46,215.18 in Stock

Porch Group, Inc. (NASDAQ:PRCH) CFO Shawn Tabak sold 2,746 shares of the firm’s stock in a transaction dated Monday, October 5th. The shares were sold at an average price of $16.83, for a total transaction of $46,215.18. Following the completion of the sale, the chief financial officer owned 212,749 shares of the company’s stock, valued at approximately $3,580,565.67. The trade was a 1.27% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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, October 6th, Shawn Tabak sold 6,690 shares of Porch Group stock. The shares were sold at an average price of $17.35, for a total value of $116,071.50.
• On Wednesday, August 5th, Shawn Tabak sold 25,000 shares of Porch Group stock. The shares were sold at an average price of $16.21, for a total value of $405,250.00.

Porch Group Price Performance

Shares of NASDAQ PRCH traded up $0.14 during trading on Wednesday, hitting $17.31. 2,030,450 shares of the company were exchanged, compared to its average volume of 1,714,197. The company has a debt-to-equity ratio of 20.53, a current ratio of 1.45 and a quick ratio of 1.45. Porch Group, Inc. has a 1 year low of $6.36 and a 1 year high of $18.37. The firm’s fifty day moving average price is $16.56 and its 200 day moving average price is $12.60. The company has a market cap of $2.28 billion, a price-to-earnings ratio of -144.25 and a beta of 3.18.

Porch Group (NASDAQ:PRCH) last issued its earnings results on Wednesday, July 29th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.08. Porch Group had a negative net margin of 2.67% and a negative return on equity of 68.47%. The company had revenue of $131.81 million for the quarter, compared to analyst estimates of $122.30 million. On average, sell-side analysts expect that Porch Group, Inc. will post -0.09 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on PRCH shares. Cantor Fitzgerald raised their price objective on Porch Group from $18.00 to $20.00 and gave the company an “overweight” rating in a research note on Friday, September 25th. Keefe, Bruyette & Woods raised their price target on Porch Group from $16.25 to $16.50 and gave the company a “market perform” rating in a research report on Thursday, July 30th. B. Riley Financial lifted their price target on Porch Group from $19.00 to $21.00 and gave the stock a “buy” rating in a research note on Monday, August 3rd. Texas Capital upgraded shares of Porch Group to a “strong-buy” rating in a research report on Tuesday, September 22nd. Finally, Benchmark increased their price objective on shares of Porch Group from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Porch Group has an average rating of “Moderate Buy” and an average target price of $18.75.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Hsbc Holdings PLC lifted its position in shares of Porch Group by 2.8% during the second quarter. Hsbc Holdings PLC now owns 39,370 shares of the company’s stock worth $587,000 after purchasing an additional 1,065 shares during the last quarter. Moody National Bank Trust Division lifted its holdings in Porch Group by 0.3% during the 2nd quarter. Moody National Bank Trust Division now owns 658,852 shares of the company’s stock worth $9,909,000 after buying an additional 1,700 shares during the last quarter. Osbon Capital Management LLC acquired a new position in shares of Porch Group in the 4th quarter worth approximately $25,000. Alpine Global Management LLC increased its holdings in shares of Porch Group by 45.5% in the 4th quarter. Alpine Global Management LLC now owns 11,636 shares of the company’s stock valued at $106,000 after acquiring an additional 3,636 shares during the last quarter. Finally, State of Wyoming bought a new stake in shares of Porch Group in the 2nd quarter valued at approximately $64,000. Institutional investors and hedge funds own 48.48% of the company’s stock.

About Porch Group

Porch Group, Inc is a vertical software company focused on the home services industry. Through its technology platforms and related services, the company helps home-service businesses manage operations, attract customers, improve workflow efficiency and support transactions connected with buying, selling, maintaining and moving into homes.

Porch Group’s products and services have included customer relationship management, marketing and lead-generation tools, payments, workflow software and other business solutions for contractors and home-service professionals.