Shawn Tabak Sells 10,467 Shares of Porch Group (NASDAQ:PRCH) Stock

Porch Group, Inc. (NASDAQ:PRCH) CFO Shawn Tabak sold 10,467 shares of Porch Group stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $10.34, for a total transaction of $108,228.78. Following the completion of the sale, the chief financial officer owned 310,320 shares of the company’s stock, valued at $3,208,708.80. This trade represents a 3.26% decrease in their position. The transaction was disclosed in a legal filing with the SEC, 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 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 transaction 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 shares were 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 shares were 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 shares were sold at an average price of $8.12, for a total value of $62,767.60.
• On Friday, April 17th, Shawn Tabak sold 8,367 shares of Porch Group stock. The shares were sold at an average price of $7.87, for a total value 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 value 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.

Porch Group Stock Performance

NASDAQ:PRCH opened at $9.74 on Thursday. The company has a fifty day simple moving average of $8.29 and a two-hundred day simple moving average of $8.83. The company has a market cap of $1.24 billion, a price-to-earnings ratio of -57.29 and a beta of 3.24. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 14.87. Porch Group, Inc. has a 52 week low of $6.36 and a 52 week high of $19.44.

Porch Group (NASDAQ:PRCH) last posted its quarterly 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. The business had revenue of $109.44 million during the quarter, compared to the consensus estimate of $94.72 million. Porch Group had a negative net margin of 3.41% and a negative return on equity of 115.59%. As a group, equities analysts anticipate that Porch Group, Inc. will post -0.04 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Porch Group

A number of institutional investors and hedge funds have recently modified their holdings of PRCH. Osbon Capital Management LLC acquired a new position in Porch Group in the fourth quarter valued at approximately $25,000. Aster Capital Management DIFC Ltd boosted its holdings in Porch Group by 956.3% in the third quarter. Aster Capital Management DIFC Ltd now owns 1,521 shares of the company’s stock valued at $26,000 after purchasing an additional 1,377 shares in the last quarter. Larson Financial Group LLC boosted its holdings in Porch Group by 444.8% in the third quarter. Larson Financial Group LLC now owns 1,836 shares of the company’s stock valued at $31,000 after purchasing an additional 1,499 shares in the last quarter. Kemnay Advisory Services Inc. acquired a new position in Porch Group in the fourth quarter valued at approximately $38,000. Finally, RiverPark Advisors LLC acquired a new position in shares of Porch Group in the 3rd quarter valued at $39,000. Institutional investors and hedge funds own 48.48% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Keefe, Bruyette & Woods raised Porch Group from a “market perform” rating to an “outperform” rating and lowered their price objective for the stock from $13.00 to $10.50 in a research report on Wednesday, February 11th. Stephens assumed coverage on Porch Group in a research report on Monday, May 4th. They set an “overweight” rating and a $12.00 price objective for the company. Benchmark boosted their price objective on Porch Group from $21.00 to $22.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Finally, Zacks Research raised Porch Group from a “strong sell” rating to a “hold” rating in a research report on Friday, March 6th. Seven equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $17.21.

About Porch Group

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.