Shawn Tabak Sells 10,881 Shares of Porch Group (NASDAQ:PRCH) Stock

Porch Group, Inc. (NASDAQ:PRCH) CFO Shawn Tabak sold 10,881 shares of the stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $9.78, for a total value of $106,416.18. Following the completion of the transaction, the chief financial officer owned 299,439 shares of the company’s stock, valued at $2,928,513.42. The trade was a 3.51% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available 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 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 value 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 value 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 value 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 value 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 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.
• 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.

Porch Group Stock Performance

Shares of PRCH stock remained flat at $9.74 during mid-day trading on Thursday. The stock had a trading volume of 1,190,169 shares, compared to its average volume of 1,741,063. Porch Group, Inc. has a twelve month low of $6.36 and a twelve month high of $19.44. The firm has a market capitalization of $1.24 billion, a P/E ratio of -57.29 and a beta of 3.24. The firm’s 50-day moving average is $8.29 and its 200-day moving average is $8.83. 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 (NASDAQ:PRCH) last posted its quarterly earnings data on Tuesday, April 28th. The company reported ($0.04) 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 return on equity of 115.59% and a negative net margin of 3.41%. Research analysts anticipate that Porch Group, Inc. will post -0.04 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Keefe, Bruyette & Woods raised Porch Group from a “market perform” rating to an “outperform” rating and decreased their price target for the stock from $13.00 to $10.50 in a research note on Wednesday, February 11th. Zacks Research raised Porch Group from a “strong sell” rating to a “hold” rating in a research note on Friday, March 6th. Benchmark raised their price target on Porch Group from $21.00 to $22.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Finally, Stephens assumed coverage on Porch Group in a research note on Monday, May 4th. They issued an “overweight” rating and a $12.00 price target on the stock. Seven research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $17.21.

Hedge Funds Weigh In On Porch Group

Several hedge funds and other institutional investors have recently modified their holdings of the company. The Manufacturers Life Insurance Company lifted its stake 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 valued at $350,000 after purchasing an additional 1,090 shares in the last quarter. Alliancebernstein L.P. lifted its stake 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 valued at $1,349,000 after purchasing an additional 1,200 shares in the last quarter. Prudential Financial Inc. lifted its stake 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 valued at $168,000 after purchasing an additional 1,220 shares in the last quarter. Aster Capital Management DIFC Ltd lifted its stake 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 valued at $26,000 after purchasing an additional 1,377 shares in the last quarter. Finally, Larson Financial Group LLC lifted its stake in shares of Porch Group by 444.8% in 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.

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.