Insider Selling: Porch Group (NASDAQ:PRCH) CFO Sells $116,845.64 in Stock

Porch Group, Inc. (NASDAQ:PRCH) CFO Shawn Tabak sold 11,107 shares of the company’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $10.52, for a total value of $116,845.64. Following the completion of the transaction, the chief financial officer directly owned 320,787 shares in the company, valued at approximately $3,374,679.24. This trade represents a 3.35% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 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 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 stock was 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 stock was 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 stock was 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 stock was 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 stock was sold at an average price of $7.19, for a total value of $67,183.36.

Porch Group Price Performance

PRCH opened at $9.84 on Friday. The stock’s 50-day moving average price is $8.17 and its 200 day moving average price is $9.00. Porch Group, Inc. has a 12-month low of $6.36 and a 12-month high of $19.44. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 14.87. The firm has a market cap of $1.26 billion, a price-to-earnings ratio of -57.88 and a beta of 3.24.

Porch Group (NASDAQ:PRCH) last posted its earnings results on Tuesday, April 28th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.10) by $0.06. Porch Group had a negative return on equity of 115.59% and a negative net margin of 3.41%.The firm had revenue of $109.44 million for the quarter, compared to analyst estimates of $94.72 million. As a group, sell-side analysts expect that Porch Group, Inc. will post -0.04 earnings per share for the current year.

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On Porch Group

A number of hedge funds have recently bought and sold shares of PRCH. Osbon Capital Management LLC acquired a new stake in Porch Group in the 4th quarter valued at about $25,000. Aster Capital Management DIFC Ltd raised its position in 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. Larson Financial Group LLC raised its position in 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. Kemnay Advisory Services Inc. acquired a new stake in Porch Group in the 4th quarter valued at about $38,000. Finally, RiverPark Advisors LLC acquired a new stake in Porch Group in the 3rd quarter valued at about $39,000. Institutional investors and hedge funds own 48.48% of the company’s stock.

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.