Shawn Tabak Sells 25,000 Shares of Porch Group (NASDAQ:PRCH) Stock

Porch Group, Inc. (NASDAQ:PRCH) CFO Shawn Tabak sold 25,000 shares of Porch Group stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $16.21, for a total value of $405,250.00. Following the completion of the transaction, the chief financial officer directly owned 215,495 shares of the company’s stock, valued at $3,493,173.95. This represents a 10.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 Thursday, July 2nd, Shawn Tabak sold 25,000 shares of Porch Group stock. The stock was sold at an average price of $16.13, for a total value of $403,250.00.
• 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 value 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 value 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 stock was 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.

Porch Group Price Performance

Shares of PRCH traded up $0.41 during midday trading on Friday, hitting $15.85. The company’s stock had a trading volume of 1,383,688 shares, compared to its average volume of 1,815,227. Porch Group, Inc. has a one year low of $6.36 and a one year high of $19.44. The company’s fifty day simple moving average is $12.89 and its two-hundred day simple moving average is $9.88. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 20.53. The stock has a market capitalization of $2.02 billion, a price-to-earnings ratio of -132.08 and a beta of 3.15.

Porch Group (NASDAQ:PRCH) last posted its quarterly earnings results on Wednesday, July 29th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.08. Porch Group had a negative return on equity of 68.47% and a negative net margin of 2.67%.The company had revenue of $131.81 million during the quarter, compared to analysts’ expectations of $122.30 million. As a group, equities analysts expect that Porch Group, Inc. will post -0.09 earnings per share for the current fiscal year.

Institutional Trading of Porch Group

A number of hedge funds have recently made changes to their positions in PRCH. Larson Financial Group LLC grew its holdings in shares of Porch Group by 444.8% during the third quarter. Larson Financial Group LLC now owns 1,836 shares of the company’s stock worth $31,000 after purchasing an additional 1,499 shares during the last quarter. Osbon Capital Management LLC acquired a new position in shares of Porch Group in the fourth quarter valued at approximately $25,000. Aster Capital Management DIFC Ltd raised its holdings in Porch Group by 97.4% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 3,002 shares of the company’s stock valued at $27,000 after buying an additional 1,481 shares during the last quarter. Kemnay Advisory Services Inc. bought a new position in Porch Group in the 4th quarter valued at approximately $38,000. Finally, State of Wyoming acquired a new stake in Porch Group during the 2nd quarter worth approximately $64,000. 48.48% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently commented on PRCH shares. Stephens began coverage on shares of Porch Group in a report on Monday, May 4th. They issued an “overweight” rating and a $12.00 target price for the company. Weiss Ratings raised shares of Porch Group from a “sell (d-)” rating to a “sell (d+)” rating in a report on Thursday, July 30th. Keefe, Bruyette & Woods increased their price objective on shares of Porch Group from $16.25 to $16.50 and gave the company a “market perform” rating in a research note on Thursday, July 30th. B. Riley Financial raised their target price on shares of Porch Group from $19.00 to $21.00 and gave the company a “buy” rating in a research report on Monday. Finally, Benchmark boosted their target price on shares of Porch Group from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Six analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Porch Group has an average rating of “Moderate Buy” and an average target price of $18.79.

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.