Shawn Tabak Sells 7,730 Shares of Porch Group (NASDAQ:PRCH) Stock

Porch Group, Inc. (NASDAQ:PRCH) CFO Shawn Tabak sold 7,730 shares of the firm’s stock in a transaction dated Tuesday, April 21st. The shares were sold at an average price of $8.12, for a total value of $62,767.60. Following the transaction, the chief financial officer owned 382,559 shares of the company’s stock, valued at $3,106,379.08. This trade represents a 1.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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, April 17th, Shawn Tabak sold 8,367 shares of Porch Group stock. The stock was sold at an average price of $7.87, for a total transaction of $65,848.29.
• On Tuesday, April 14th, Shawn Tabak sold 17,697 shares of Porch Group stock. The shares were sold at an average price of $6.84, for a total transaction of $121,047.48.
• On Thursday, April 9th, Shawn Tabak sold 7,734 shares of Porch Group stock. The stock was sold at an average price of $7.15, for a total transaction of $55,298.10.
• On Tuesday, April 7th, Shawn Tabak sold 9,344 shares of Porch Group stock. The stock was sold at an average price of $7.19, for a total transaction of $67,183.36.

Porch Group Stock Down 4.5%

Shares of NASDAQ:PRCH traded down $0.36 during trading on Thursday, hitting $7.69. The company’s stock had a trading volume of 2,422,213 shares, compared to its average volume of 1,552,813. The business has a 50 day moving average price of $7.66 and a two-hundred day moving average price of $9.59. The company has a market capitalization of $957.11 million, a PE ratio of -153.80 and a beta of 3.09. The company has a debt-to-equity ratio of 17.20, a quick ratio of 1.30 and a current ratio of 1.30. Porch Group, Inc. has a fifty-two week low of $5.06 and a fifty-two week high of $19.44.

Porch Group (NASDAQ:PRCH) last posted its quarterly earnings results on Wednesday, February 11th. The company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.05. The business had revenue of $112.25 million during the quarter, compared to the consensus estimate of $109.13 million. Porch Group had a negative net margin of 0.72% and a negative return on equity of 51.86%. As a group, research analysts expect that Porch Group, Inc. will post 0.02 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Zacks Research raised Porch Group from a “strong sell” rating to a “hold” rating in a research report on Friday, March 6th. Benchmark reiterated a “buy” rating on shares of Porch Group in a report on Friday, January 16th. Weiss Ratings restated a “sell (d+)” rating on shares of Porch Group in a report on Monday, December 29th. Finally, Keefe, Bruyette & Woods upgraded shares of Porch Group from a “market perform” rating to an “outperform” rating and lowered their target price for the stock from $13.00 to $10.50 in a research note on Wednesday, February 11th. Seven investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Porch Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $17.21.

Institutional Investors Weigh In On Porch Group

Several hedge funds and other institutional investors have recently made changes to their positions in the business. AQR Capital Management LLC lifted its position in Porch Group by 134.7% in the first quarter. AQR Capital Management LLC now owns 226,795 shares of the company’s stock valued at $1,653,000 after acquiring an additional 130,166 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Porch Group by 4.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 48,275 shares of the company’s stock valued at $352,000 after acquiring an additional 2,002 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in Porch Group by 2.3% in the first quarter. Goldman Sachs Group Inc. now owns 1,161,064 shares of the company’s stock valued at $8,464,000 after acquiring an additional 26,119 shares during the last quarter. Creative Planning purchased a new stake in shares of Porch Group in the 2nd quarter valued at about $136,000. Finally, Legal & General Group Plc lifted its holdings in shares of Porch Group by 1,203.8% in the 2nd quarter. Legal & General Group Plc now owns 108,759 shares of the company’s stock valued at $1,282,000 after purchasing an additional 100,417 shares during the last quarter. Institutional investors and hedge funds own 48.48% of the company’s stock.

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.