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

Porch Group, Inc. (NASDAQ:PRCH) CFO Shawn Tabak sold 3,944 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $10.87, for a total transaction 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. The trade was a 1.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 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 shares were 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 shares were 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 shares were 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 shares were sold at an average price of $8.12, for a total transaction of $62,767.60.

Porch Group Stock Performance

Shares of Porch Group stock opened at $9.26 on Friday. The firm has a market cap of $1.18 billion, a PE ratio of -54.47 and a beta of 3.22. The firm’s 50-day simple moving average is $8.91 and its 200-day simple moving average is $8.68. The company has a debt-to-equity ratio of 14.87, a quick ratio of 1.28 and a current ratio of 1.28. 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) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.06. The business had revenue of $109.44 million for the quarter, compared to analyst estimates of $94.72 million. Porch Group had a negative net margin of 3.41% and a negative return on equity of 115.59%. Equities analysts forecast that Porch Group, Inc. will post -0.04 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Porch Group

A number of large investors have recently bought and sold shares of PRCH. Osbon Capital Management LLC bought a new position in Porch Group in the fourth quarter worth about $25,000. Aster Capital Management DIFC Ltd lifted its holdings in Porch Group by 956.3% in the third quarter. Aster Capital Management DIFC Ltd now owns 1,521 shares of the company’s stock worth $26,000 after acquiring an additional 1,377 shares during the last quarter. Larson Financial Group LLC lifted its holdings in Porch Group by 444.8% in the third quarter. Larson Financial Group LLC now owns 1,836 shares of the company’s stock worth $31,000 after acquiring an additional 1,499 shares during the last quarter. Kemnay Advisory Services Inc. bought a new position in Porch Group in the fourth quarter worth about $38,000. Finally, RiverPark Advisors LLC bought a new position in Porch Group in the third quarter worth about $39,000. Institutional investors own 48.48% of the company’s stock.

Wall Street Analysts Forecast Growth

PRCH has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods upgraded shares of Porch Group from a “market perform” rating to an “outperform” rating and cut their target price for the company from $13.00 to $10.50 in a research note on Wednesday, February 11th. Benchmark upped their target price 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. Weiss Ratings restated a “sell (d-)” rating on shares of Porch Group in a research note on Friday, May 22nd. Stephens initiated coverage on shares of Porch Group in a research note on Monday, May 4th. They issued an “overweight” rating and a $12.00 target price on the stock. Finally, Zacks Research upgraded shares of Porch Group from a “strong sell” rating to a “hold” rating in a research note on Friday, March 6th. Seven equities 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 company’s stock. According to MarketBeat.com, Porch Group has an average rating of “Moderate Buy” and an average price target of $17.21.

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.