Porch Group (NASDAQ:PRCH) CFO Sells $234,680.04 in Stock

Porch Group, Inc. (NASDAQ:PRCH) CFO Shawn Tabak sold 24,294 shares of the stock in a transaction on Monday, December 15th. The shares were sold at an average price of $9.66, for a total transaction of $234,680.04. Following the sale, the chief financial officer directly owned 118,130 shares of the company’s stock, valued at $1,141,135.80. The trade was a 17.06% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Shawn Tabak also recently made the following trade(s):

• On Thursday, December 11th, Shawn Tabak sold 10,706 shares of Porch Group stock. The shares were sold at an average price of $9.99, for a total transaction of $106,952.94.
• On Thursday, December 4th, Shawn Tabak sold 22,216 shares of Porch Group stock. The stock was sold at an average price of $9.52, for a total transaction of $211,496.32.

Porch Group Stock Down 4.3%

Shares of NASDAQ:PRCH opened at $8.87 on Thursday. The stock’s 50-day moving average is $12.02 and its 200 day moving average is $13.55. The company has a market cap of $1.10 billion, a PE ratio of 30.59 and a beta of 3.11. The company has a debt-to-equity ratio of 36.18, a current ratio of 1.33 and a quick ratio of 1.33. Porch Group, Inc. has a 1 year low of $3.72 and a 1 year high of $19.44.

Porch Group (NASDAQ:PRCH) last released its quarterly earnings data on Wednesday, November 5th. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.02). Porch Group had a negative return on equity of 51.86% and a net margin of 6.91%.The business had revenue of $118.08 million during the quarter, compared to analysts’ expectations of $114.42 million. Sell-side analysts anticipate that Porch Group, Inc. will post -0.63 EPS for the current year.

Institutional Investors Weigh In On Porch Group

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Invesco Ltd. raised its stake in Porch Group by 448.4% during 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. Divisadero Street Capital Management LP bought a new position in shares of Porch Group during the second quarter valued at $28,810,000. Hennessy Advisors Inc. purchased a new position in shares of Porch Group in the 2nd quarter worth about $19,607,000. Monashee Investment Management LLC bought a new position in Porch Group in the 1st quarter worth about $11,300,000. Finally, Driehaus Capital Management LLC grew its position in Porch Group by 84.6% during the 1st quarter. Driehaus Capital Management LLC now owns 3,208,312 shares of the company’s stock valued at $23,389,000 after purchasing an additional 1,470,580 shares during the last quarter. Hedge funds and other institutional investors own 48.48% of the company’s stock.

Analyst Upgrades and Downgrades

PRCH has been the topic of a number of research analyst reports. Oppenheimer set a $20.00 price objective on shares of Porch Group in a research report on Thursday, November 6th. The Goldman Sachs Group assumed coverage on shares of Porch Group in a research report on Tuesday, September 2nd. They set a “buy” rating and a $21.00 price target on the stock. Weiss Ratings lowered shares of Porch Group from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday. Benchmark reaffirmed a “buy” rating on shares of Porch Group in a research report on Tuesday, November 25th. Finally, B. Riley reissued a “buy” rating on shares of Porch Group in a research report on Thursday, November 6th. Seven research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $17.00.

Porch Group Company Profile

Porch Group, Inc, together with its subsidiaries, operates a vertical software and insurance platform in the United States. The company operates in two segments, Vertical Software and Insurance. The Vertical Software segment provides software and services to inspection, mortgage, and title companies on a subscription and transactional basis, as well as move and post-move services.