Insider Selling: Porch Group (NASDAQ:PRCH) CFO Sells $302,400.00 in Stock

Porch Group, Inc. (NASDAQ:PRCH) CFO Shawn Tabak sold 30,000 shares of the firm’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $10.08, for a total transaction of $302,400.00. Following the completion of the transaction, the chief financial officer directly owned 269,439 shares in the company, valued at $2,715,945.12. This trade represents a 10.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• 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 transaction 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 transaction 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 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 transaction 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 stock was sold at an average price of $9.79, for a total transaction 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 transaction 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 transaction 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 transaction of $62,767.60.
• 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.

Porch Group Trading Up 0.8%

Shares of PRCH stock opened at $10.42 on Friday. Porch Group, Inc. has a 52-week low of $6.36 and a 52-week high of $19.44. The company has a debt-to-equity ratio of 14.87, a quick ratio of 1.28 and a current ratio of 1.28. The company has a 50-day simple moving average of $8.63 and a two-hundred day simple moving average of $8.68. The company has a market capitalization of $1.33 billion, a price-to-earnings ratio of -61.29 and a beta of 3.24.

Porch Group (NASDAQ:PRCH) last issued its quarterly earnings data on Tuesday, April 28th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.06. Porch Group had a negative net margin of 3.41% and a negative return on equity of 115.59%. The business had revenue of $109.44 million during the quarter, compared to the consensus estimate of $94.72 million. Research analysts anticipate that Porch Group, Inc. will post -0.04 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on PRCH. Stephens began coverage on shares of Porch Group in a research report on Monday, May 4th. They issued an “overweight” rating and a $12.00 price objective for the company. Zacks Research raised shares of Porch Group from a “strong sell” rating to a “hold” rating in a research report on Friday, March 6th. Benchmark upped their price objective on shares of Porch Group from $21.00 to $22.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Keefe, Bruyette & Woods upgraded shares of Porch Group from a “market perform” rating to an “outperform” rating and decreased their price objective for the stock from $13.00 to $10.50 in a report on Wednesday, February 11th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Porch Group in a report on Friday, May 22nd. Seven equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Porch Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.21.

Institutional Trading of Porch Group

A number of large investors have recently added to or reduced their stakes in the stock. Granahan Investment Management LLC increased its holdings in Porch Group by 9.4% during the first quarter. Granahan Investment Management LLC now owns 12,674,987 shares of the company’s stock worth $90,880,000 after buying an additional 1,084,559 shares during the last quarter. Vanguard Group Inc. increased its holdings in Porch Group by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 7,314,207 shares of the company’s stock worth $66,779,000 after buying an additional 62,073 shares during the last quarter. Park West Asset Management LLC increased its holdings in Porch Group by 131.3% during the fourth quarter. Park West Asset Management LLC now owns 5,050,000 shares of the company’s stock worth $46,106,000 after buying an additional 2,867,084 shares during the last quarter. GC Wealth Management RIA LLC purchased a new position in shares of Porch Group in the first quarter worth about $29,230,000. Finally, Invesco Ltd. increased its stake in shares of Porch Group by 448.4% in the third quarter. Invesco Ltd. now owns 3,795,064 shares of the company’s stock worth $63,681,000 after purchasing an additional 3,103,018 shares in the last quarter. Hedge funds and other institutional investors own 48.48% of the company’s stock.

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.