Porch Group (NASDAQ:PRCH) CFO Shawn Tabak Sells 30,000 Shares

Porch Group, Inc. (NASDAQ:PRCH) CFO Shawn Tabak sold 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $10.08, for a total value of $302,400.00. Following the transaction, the chief financial officer directly owned 269,439 shares of the company’s stock, valued at approximately $2,715,945.12. This trade represents a 10.02% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Wednesday, May 20th, Shawn Tabak sold 10,881 shares of Porch Group stock. The stock was sold at an average price of $9.78, for a total value 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 stock was 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 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 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 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.

Porch Group Stock Performance

Shares of NASDAQ:PRCH traded up $0.17 during midday trading on Thursday, reaching $10.34. 1,302,155 shares of the company’s stock traded hands, compared to its average volume of 1,727,947. The company has a market cap of $1.32 billion, a price-to-earnings ratio of -60.82 and a beta of 3.24. 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 one year low of $6.36 and a one year high of $19.44. The stock has a 50 day moving average of $8.51 and a 200 day moving average of $8.67.

Porch Group (NASDAQ:PRCH) last announced its quarterly earnings results on Tuesday, April 28th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.06. The firm had revenue of $109.44 million for 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%. As a group, equities research analysts anticipate that Porch Group, Inc. will post -0.04 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Granahan Investment Management LLC lifted its holdings 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 acquiring an additional 1,084,559 shares during the period. Vanguard Group Inc. lifted its holdings in Porch Group by 0.9% in the fourth 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 lifted its holdings in Porch Group by 131.3% in the fourth 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 bought a new position in Porch Group in the first quarter valued at about $29,230,000. Finally, Invesco Ltd. lifted its holdings in Porch Group by 448.4% in the third quarter. Invesco Ltd. now owns 3,795,064 shares of the company’s stock valued at $63,681,000 after acquiring an additional 3,103,018 shares during the period. Institutional investors own 48.48% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on PRCH. Keefe, Bruyette & Woods raised Porch Group from a “market perform” rating to an “outperform” rating and lowered their price target for the company from $13.00 to $10.50 in a report on Wednesday, February 11th. Zacks Research raised Porch Group from a “strong sell” rating to a “hold” rating in a report on Friday, March 6th. Stephens initiated coverage on Porch Group in a report on Monday, May 4th. They set an “overweight” rating and a $12.00 price target on the stock. Benchmark increased their target price on Porch Group from $21.00 to $22.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Porch Group in a report on Friday, May 22nd. 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, Porch Group has an average rating of “Moderate Buy” and a consensus target price of $17.21.

About Porch Group

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.