Porch Group (NASDAQ:PRCH) Stock: Insider Shawn Tabak Sells 2,746 Shares

Porch Group, Inc. (NASDAQ:PRCH) CFO Shawn Tabak sold 2,746 shares of the business’s stock in a transaction dated Monday, October 5th. The stock was sold at an average price of $16.83, for a total value of $46,215.18. Following the transaction, the chief financial officer owned 212,749 shares of the company’s stock, valued at $3,580,565.67. The trade was a 1.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at 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, October 6th, Shawn Tabak sold 6,690 shares of Porch Group stock. The shares were sold at an average price of $17.35, for a total transaction of $116,071.50.
• 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 Stock Performance

Shares of Porch Group stock opened at $17.53 on Friday. The stock’s fifty day simple moving average is $16.72 and its 200 day simple moving average is $12.74. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 20.53. The company has a market capitalization of $2.31 billion, a PE ratio of -146.08 and a beta of 3.18. Porch Group, Inc. has a 12 month low of $6.36 and a 12 month high of $18.37.

Porch Group (NASDAQ:PRCH) last posted its 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. Porch Group had a negative return on equity of 68.47% and a negative net margin of 2.67%.The firm had revenue of $131.81 million during the quarter, compared to analysts’ expectations of $122.30 million. On average, research analysts predict that Porch Group, Inc. will post -0.09 EPS for the current year.

Hedge Funds Weigh In On Porch Group

Institutional investors and hedge funds have recently modified their holdings of the stock. Granahan Investment Management LLC grew its position in shares of Porch Group by 9.4% in the first 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 last quarter. BlackRock Inc. acquired a new position in Porch Group in the 2nd quarter valued at $128,995,000. GC Wealth Management RIA LLC acquired a new position in Porch Group in the 1st quarter valued at $29,230,000. Park West Asset Management LLC bought a new position in Porch Group during the 2nd quarter worth $53,194,000. Finally, Dimensional Fund Advisors LP increased its position in Porch Group by 42.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,540,082 shares of the company’s stock worth $11,040,000 after buying an additional 455,817 shares during the period. 48.48% of the stock is currently owned by institutional investors and hedge funds.

Key Porch Group News

Here are the key news stories impacting Porch Group this week:

• Positive Sentiment: Porch Group’s second-quarter performance remains the main bullish catalyst. The company reported earnings of $0.05 per share versus expectations for a $0.03 loss, while revenue of $131.8 million exceeded the $122.3 million consensus estimate. Reports also highlighted stronger profitability and a guidance reset that improved the outlook. Porch Group stock gains as Q2 profit and guidance reset outlook
• Positive Sentiment: Analyst sentiment is broadly supportive, with a consensus rating of “Moderate Buy” and an average price target of $18.75. Several firms have recently raised their targets, including B. Riley Financial to $21 and Cantor Fitzgerald to $20, reinforcing the recovery narrative following the earnings beat.
• Neutral Sentiment: A head-to-head survey compared Porch Group with ServiceTitan, but the available report information does not identify a clear new financial catalyst or specific recommendation for PRCH. Head-To-Head Survey: ServiceTitan vs. Porch Group
• Negative Sentiment: Multiple insiders reported sales from October 5–6, including the CEO, COO, CFO and a director. The transactions totaled roughly 123,000 shares, though the executive sales were described as covering tax-withholding obligations from vested equity awards and the director’s sale occurred under a Rule 10b5-1 plan. The activity may nevertheless create short-term selling pressure. Porch Group insider selling report
• Negative Sentiment: Porch Group remains unprofitable, with analysts expecting a full-year loss, so investors may be particularly sensitive to further insider selling or any deterioration in growth and guidance.

Wall Street Analyst Weigh In

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

About Porch Group

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.