Porch Group (NASDAQ:PRCH) CFO Sells $116,071.50 in Stock

Porch Group, Inc. (NASDAQ:PRCH – Get Free Report) CFO Shawn Tabak sold 6,690 shares of the company’s stock in a transaction that occurred on Tuesday, October 6th. The stock was sold at an average price of $17.35, for a total transaction of $116,071.50. Following the sale, the chief financial officer directly owned 206,059 shares in the company, valued at approximately $3,575,123.65. The trade was a 3.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 Monday, October 5th, Shawn Tabak sold 2,746 shares of Porch Group stock. The stock was sold at an average price of $16.83, for a total transaction of $46,215.18.
  • On Wednesday, August 5th, Shawn Tabak sold 25,000 shares of Porch Group stock. The stock was sold at an average price of $16.21, for a total value of $405,250.00.

Porch Group Trading Up 0.2%

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

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

Wall Street Analysts Forecast Growth

PRCH has been the subject of a number of recent research reports. B. Riley Financial lifted their price target on shares of Porch Group from $19.00 to $21.00 and gave the stock a “buy” rating in a research note on Monday, August 3rd. Keefe, Bruyette & Woods raised their price objective on shares of Porch Group from $16.25 to $16.50 and gave the company a “market perform” rating in a report on Thursday, July 30th. Cantor Fitzgerald lifted their price objective on shares of Porch Group from $18.00 to $20.00 and gave the stock an “overweight” rating in a research report on Friday, September 25th. Weiss Ratings raised Porch Group from a “sell (d-)” rating to a “sell (d+)” rating in a report on Thursday, July 30th. Finally, Texas Capital raised Porch Group to a “strong-buy” rating in a report on Tuesday, September 22nd. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.75.

View Our Latest Report on Porch Group

Hedge Funds Weigh In On Porch Group

Several large investors have recently bought and sold shares of PRCH. Granahan Investment Management LLC boosted its position in shares of Porch Group by 9.4% in the 1st quarter. Granahan Investment Management LLC now owns 12,674,987 shares of the company’s stock valued at $90,880,000 after purchasing an additional 1,084,559 shares during the period. BlackRock Inc. acquired a new stake in shares of Porch Group in the second quarter valued at approximately $128,995,000. GC Wealth Management RIA LLC acquired a new stake in shares of Porch Group in the first quarter valued at approximately $29,230,000. Park West Asset Management LLC purchased a new position in shares of Porch Group during the second quarter worth approximately $53,194,000. Finally, Dimensional Fund Advisors LP grew its position in shares of Porch Group by 42.0% during the first quarter. Dimensional Fund Advisors LP now owns 1,540,082 shares of the company’s stock worth $11,040,000 after acquiring an additional 455,817 shares during the last quarter. Institutional investors and hedge funds own 48.48% of the company’s stock.

About Porch Group

(Get Free Report)

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.

Recommended Stories

Insider Buying and Selling by Quarter for Porch Group (NASDAQ:PRCH)

Receive News & Ratings for Porch Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Porch Group and related companies with MarketBeat.com's FREE daily email newsletter.