Porch Group (NASDAQ:PRCH) CFO Shawn Tabak Sells 3,944 Shares of Stock

Porch Group, Inc. (NASDAQ:PRCHGet Free Report) CFO Shawn Tabak sold 3,944 shares of Porch Group stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $10.87, for a total value of $42,871.28. Following the completion of the sale, the chief financial officer directly owned 265,495 shares in the company, valued at approximately $2,885,930.65. This represents a 1.46% decrease in their position. The sale was disclosed in a legal filing with the SEC, 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 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 value of $302,400.00.
  • On Wednesday, May 20th, Shawn Tabak sold 10,881 shares of Porch Group stock. The shares were 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 shares were 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 value 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 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 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 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 stock was sold at an average price of $8.12, for a total value of $62,767.60.

Porch Group Stock Performance

Shares of NASDAQ PRCH opened at $9.65 on Friday. 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, Inc. has a 12 month low of $6.36 and a 12 month high of $19.44. The stock has a 50 day moving average of $8.87 and a 200-day moving average of $8.67. The company has a market capitalization of $1.23 billion, a P/E ratio of -56.76 and a beta of 3.22.

Porch Group (NASDAQ:PRCHGet Free Report) last issued its earnings results on Tuesday, April 28th. The company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.10) by $0.06. Porch Group had a negative return on equity of 115.59% and a negative net margin of 3.41%.The company had revenue of $109.44 million during the quarter, compared to the consensus estimate of $94.72 million. As a group, equities research analysts predict that Porch Group, Inc. will post -0.04 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently issued reports on PRCH. Benchmark boosted their price target on Porch Group from $21.00 to $22.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Weiss Ratings restated a “sell (d-)” rating on shares of Porch Group in a research note on Friday, May 22nd. Stephens began coverage on Porch Group in a research note on Monday, May 4th. They issued an “overweight” rating and a $12.00 price target for the company. Keefe, Bruyette & Woods upgraded Porch Group from a “market perform” rating to an “outperform” rating and reduced their price target for the company from $13.00 to $10.50 in a research note on Wednesday, February 11th. Finally, Zacks Research upgraded Porch Group from a “strong sell” rating to a “hold” rating in a research note on Friday, March 6th. Seven research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $17.21.

Check Out Our Latest Research Report on Porch Group

Hedge Funds Weigh In On Porch Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE raised its holdings in Porch Group by 34.8% in the 1st quarter. Bank of America Corp DE now owns 364,015 shares of the company’s stock valued at $2,610,000 after acquiring an additional 94,033 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in Porch Group by 3,773.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 15,339 shares of the company’s stock valued at $110,000 after acquiring an additional 14,943 shares in the last quarter. California State Teachers Retirement System raised its holdings in Porch Group by 41.4% in the 1st quarter. California State Teachers Retirement System now owns 90,632 shares of the company’s stock valued at $650,000 after acquiring an additional 26,528 shares in the last quarter. Ashford Capital Management Inc. raised its holdings in Porch Group by 72.0% in the 1st quarter. Ashford Capital Management Inc. now owns 696,180 shares of the company’s stock valued at $4,992,000 after acquiring an additional 291,510 shares in the last quarter. Finally, Quantinno Capital Management LP raised its holdings in Porch Group by 195.9% in the 1st quarter. Quantinno Capital Management LP now owns 73,939 shares of the company’s stock valued at $530,000 after acquiring an additional 48,949 shares in the last quarter. 48.48% of the stock is owned by institutional investors and hedge funds.

About Porch Group

(Get Free Report)

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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