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

Porch Group, Inc. (NASDAQ:PRCH) CFO Shawn Tabak sold 25,000 shares of the business’s 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 sale, the chief financial officer directly owned 240,495 shares of the company’s stock, valued at $3,879,184.35. This represents a 9.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 shares were 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 shares were 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 stock was 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 transaction 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 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 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 Price Performance

Shares of PRCH stock opened at $14.68 on Wednesday. Porch Group, Inc. has a twelve month low of $6.36 and a twelve month high of $19.44. The stock has a market capitalization of $1.87 billion, a price-to-earnings ratio of -86.35 and a beta of 3.13. The stock has a fifty day simple moving average of $11.21 and a two-hundred day simple moving average of $9.15. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 14.87.

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

Hedge Funds Weigh In On Porch Group

A number of large investors have recently added to or reduced their stakes in the company. GC Wealth Management RIA LLC acquired a new position in Porch Group during the 1st quarter valued at about $29,230,000. Invesco Ltd. raised its stake 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 buying an additional 3,103,018 shares during the last quarter. Park West Asset Management LLC boosted 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 worth $46,106,000 after acquiring an additional 2,867,084 shares in the last quarter. Granahan Investment Management LLC grew its stake in shares of Porch Group by 20.3% during the fourth quarter. Granahan Investment Management LLC now owns 11,590,428 shares of the company’s stock worth $105,821,000 after acquiring an additional 1,953,736 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Porch Group by 264.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,084,265 shares of the company’s stock worth $9,899,000 after acquiring an additional 786,583 shares during the last quarter. 48.48% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on PRCH. Weiss Ratings restated a “sell (d-)” rating on shares of Porch Group in a report on Friday, May 22nd. Stephens started coverage on shares of Porch Group in a report on Monday, May 4th. They set an “overweight” rating and a $12.00 price objective on the stock. Finally, Benchmark boosted their price objective on shares of Porch Group from $21.00 to $22.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Seven equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $17.58.

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.