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

Porch Group, Inc. (NASDAQ:PRCH) CFO Shawn Tabak sold 10,881 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The shares were 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 directly owned 299,439 shares of the company’s stock, valued at $2,928,513.42. The trade was a 3.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through 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 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 stock was 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.

Porch Group Stock Performance

Porch Group stock opened at $9.74 on Friday. The company has a debt-to-equity ratio of 14.87, a quick ratio of 1.28 and a current ratio of 1.28. The stock has a fifty day moving average of $8.33 and a two-hundred day moving average of $8.79. The company has a market capitalization of $1.24 billion, a price-to-earnings ratio of -57.29 and a beta of 3.24. Porch Group, Inc. has a fifty-two week low of $6.36 and a fifty-two week high of $19.44.

Porch Group (NASDAQ:PRCH) last released its quarterly earnings results on Tuesday, April 28th. The company reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.06. The company had revenue of $109.44 million during the quarter, compared to the consensus estimate 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 anticipate that Porch Group, Inc. will post -0.04 EPS for the current fiscal year.

Institutional Investors Weigh In On Porch Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Bank of America Corp DE boosted its holdings in Porch Group by 34.8% in the first quarter. Bank of America Corp DE now owns 364,015 shares of the company’s stock valued at $2,610,000 after acquiring an additional 94,033 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Porch Group by 3,773.5% in the first quarter. EverSource Wealth Advisors LLC now owns 15,339 shares of the company’s stock valued at $110,000 after acquiring an additional 14,943 shares during the last quarter. California State Teachers Retirement System boosted its holdings in Porch Group by 41.4% in the first quarter. California State Teachers Retirement System now owns 90,632 shares of the company’s stock valued at $650,000 after acquiring an additional 26,528 shares during the last quarter. Ashford Capital Management Inc. boosted its holdings in Porch Group by 72.0% in the first quarter. Ashford Capital Management Inc. now owns 696,180 shares of the company’s stock valued at $4,992,000 after acquiring an additional 291,510 shares during the last quarter. Finally, Quantinno Capital Management LP boosted its holdings in Porch Group by 195.9% in the first quarter. Quantinno Capital Management LP now owns 73,939 shares of the company’s stock valued at $530,000 after acquiring an additional 48,949 shares during the last quarter. Hedge funds and other institutional investors own 48.48% of the company’s stock.

Analyst Ratings Changes

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

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.