Porch Group (NASDAQ:PRCH) CFO Sells $403,250.00 in Stock

Porch Group, Inc. (NASDAQ:PRCH) CFO Shawn Tabak sold 25,000 shares of the stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $16.13, for a total transaction of $403,250.00. Following the transaction, the chief financial officer directly owned 240,495 shares in the company, valued at approximately $3,879,184.35. This represents a 9.42% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Shawn Tabak also recently made the following trade(s):

• On Tuesday, June 2nd, Shawn Tabak sold 3,944 shares of Porch Group stock. The stock was sold at an average price of $10.87, for a total transaction of $42,871.28.
• On Tuesday, May 26th, Shawn Tabak sold 30,000 shares of Porch Group stock. The stock was 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 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 stock was 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 stock was 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 stock was 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.

Porch Group Stock Up 2.0%

Shares of Porch Group stock opened at $15.15 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. Porch Group, Inc. has a 52-week low of $6.36 and a 52-week high of $19.44. The company’s 50 day moving average price is $11.48 and its 200-day moving average price is $9.23. The stock has a market capitalization of $1.93 billion, a price-to-earnings ratio of -89.11 and a beta of 3.13.

Porch Group (NASDAQ:PRCH) last announced its quarterly earnings results on Tuesday, April 28th. The company reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.06. The business had revenue of $109.44 million during the quarter, compared to analysts’ expectations of $94.72 million. Porch Group had a negative net margin of 3.41% and a negative return on equity of 115.59%. Equities research analysts forecast that Porch Group, Inc. will post -0.04 EPS for the current year.

Wall Street Analyst Weigh In

PRCH has been the topic of several recent analyst reports. Benchmark raised 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. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Porch Group in a research report on Friday, May 22nd. Finally, Stephens began coverage on Porch Group in a report on Monday, May 4th. They issued an “overweight” rating and a $12.00 price objective for the company. Seven investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $17.58.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in PRCH. AQR Capital Management LLC lifted its position in shares of Porch Group by 134.7% in the 1st quarter. AQR Capital Management LLC now owns 226,795 shares of the company’s stock worth $1,653,000 after purchasing an additional 130,166 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Porch Group by 4.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 48,275 shares of the company’s stock worth $352,000 after buying an additional 2,002 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in Porch Group by 2.3% in the first quarter. Goldman Sachs Group Inc. now owns 1,161,064 shares of the company’s stock worth $8,464,000 after buying an additional 26,119 shares in the last quarter. Creative Planning purchased a new stake in Porch Group in the second quarter worth about $136,000. Finally, Legal & General Group Plc lifted its holdings in Porch Group by 1,203.8% in the second quarter. Legal & General Group Plc now owns 108,759 shares of the company’s stock worth $1,282,000 after buying an additional 100,417 shares during the period. 48.48% of the stock is currently owned by institutional investors.

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.