Porch Group (NASDAQ:PRCH) CFO Sells $46,215.18 in Stock

Porch Group, Inc. (NASDAQ:PRCH) CFO Shawn Tabak sold 2,746 shares of the business’s stock in a transaction dated Monday, October 5th. The stock was sold at an average price of $16.83, for a total value of $46,215.18. Following the transaction, the chief financial officer owned 212,749 shares of the company’s stock, valued at approximately $3,580,565.67. The trade was a 1.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 Tuesday, October 6th, Shawn Tabak sold 6,690 shares of Porch Group stock. The shares were sold at an average price of $17.35, for a total value of $116,071.50.
• On Wednesday, August 5th, Shawn Tabak sold 25,000 shares of Porch Group stock. The shares were sold at an average price of $16.21, for a total value of $405,250.00.

Porch Group Stock Up 0.2%

Shares of NASDAQ PRCH opened at $17.56 on Friday. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 20.53. The business has a 50-day moving average of $16.78 and a 200-day moving average of $12.77. The firm has a market capitalization of $2.31 billion, a price-to-earnings ratio of -146.33 and a beta of 3.18. Porch Group, Inc. has a 12 month low of $6.36 and a 12 month high of $18.37.

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

Institutional Investors Weigh In On Porch Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. bought a new position in Porch Group during the 2nd quarter worth approximately $128,995,000. GC Wealth Management RIA LLC purchased a new stake in shares of Porch Group during the first quarter valued at approximately $29,230,000. Park West Asset Management LLC bought a new position in shares of Porch Group in the second quarter worth approximately $53,194,000. Granahan Investment Management LLC grew its holdings in shares of Porch Group by 20.3% in the fourth quarter. Granahan Investment Management LLC now owns 11,590,428 shares of the company’s stock worth $105,821,000 after purchasing an additional 1,953,736 shares during the last quarter. Finally, Jupiter Topco LLC purchased a new position in shares of Porch Group in the second quarter worth $21,979,000. Institutional investors own 48.48% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on PRCH shares. Weiss Ratings raised shares of Porch Group from a “sell (d-)” rating to a “sell (d+)” rating in a report on Thursday, July 30th. Texas Capital raised Porch Group to a “strong-buy” rating in a research note on Tuesday, September 22nd. B. Riley Financial raised their price target on Porch Group from $19.00 to $21.00 and gave the company a “buy” rating in a research report on Monday, August 3rd. Benchmark lifted their price target on Porch Group from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Finally, Keefe, Bruyette & Woods upped their price objective on Porch Group from $16.25 to $16.50 and gave the stock a “market perform” rating in a report on Thursday, July 30th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $18.75.

Porch Group Company Profile

Porch Group, Inc is a vertical software company focused on the home services industry. Through its technology platforms and related services, the company helps home-service businesses manage operations, attract customers, improve workflow efficiency and support transactions connected with buying, selling, maintaining and moving into homes.

Porch Group’s products and services have included customer relationship management, marketing and lead-generation tools, payments, workflow software and other business solutions for contractors and home-service professionals.