Porch Group, Inc. (NASDAQ:PRCH – Get Free Report) CFO Shawn Tabak sold 10,881 shares of the company’s stock in a transaction that occurred 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 transaction, the chief financial officer directly owned 299,439 shares of the company’s stock, valued at approximately $2,928,513.42. The trade was a 3.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 transaction of $108,228.78.
- On Tuesday, May 12th, Shawn Tabak sold 11,107 shares of Porch Group stock. The stock was sold at an average price of $10.52, for a total transaction 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 transaction 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 transaction 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 transaction 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 transaction 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 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 stock was sold at an average price of $6.84, for a total value of $121,047.48.
Porch Group Trading Down 1.8%
Shares of PRCH opened at $9.56 on Friday. Porch Group, Inc. has a 52-week low of $6.36 and a 52-week high of $19.44. The stock has a market cap of $1.22 billion, a PE ratio of -56.23 and a beta of 3.24. The firm’s fifty day moving average is $8.37 and its two-hundred day moving average is $8.79. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 14.87.
Wall Street Analysts Forecast Growth
PRCH has been the subject of several recent research reports. Zacks Research raised Porch Group from a “strong sell” rating to a “hold” rating in a report on Friday, March 6th. Stephens started coverage on Porch Group in a report on Monday, May 4th. They issued an “overweight” rating and a $12.00 target price for the company. Benchmark boosted their price target on shares of 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 shares of Porch Group from a “market perform” rating to an “outperform” rating and dropped their price objective for the company from $13.00 to $10.50 in a report on Wednesday, February 11th. Seven investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Porch Group presently has an average rating of “Moderate Buy” and an average target price of $17.21.
Check Out Our Latest Analysis on PRCH
Hedge Funds Weigh In On Porch Group
A number of hedge funds have recently modified their holdings of PRCH. Granahan Investment Management LLC lifted its position in Porch Group by 9.4% in the first quarter. Granahan Investment Management LLC now owns 12,674,987 shares of the company’s stock valued at $90,880,000 after buying an additional 1,084,559 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Porch Group by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 7,314,207 shares of the company’s stock valued at $66,779,000 after acquiring an additional 62,073 shares during the period. Park West Asset Management LLC raised its stake in shares of Porch Group by 131.3% in the 4th quarter. Park West Asset Management LLC now owns 5,050,000 shares of the company’s stock valued at $46,106,000 after acquiring an additional 2,867,084 shares during the period. GC Wealth Management RIA LLC purchased a new position in shares of Porch Group during the 1st quarter worth approximately $29,230,000. Finally, Invesco Ltd. increased its holdings in Porch Group by 448.4% in the 3rd quarter. Invesco Ltd. now owns 3,795,064 shares of the company’s stock valued at $63,681,000 after purchasing an additional 3,103,018 shares during the last quarter. 48.48% of the stock is currently owned by hedge funds and other 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.
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