Porch Group (NASDAQ:PRCH) CFO Sells $106,952.94 in Stock

Porch Group, Inc. (NASDAQ:PRCH) CFO Shawn Tabak sold 10,706 shares of Porch Group stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $9.99, for a total transaction of $106,952.94. Following the transaction, the chief financial officer owned 142,424 shares of the company’s stock, valued at approximately $1,422,815.76. The trade was a 6.99% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

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

• On Monday, December 15th, Shawn Tabak sold 24,294 shares of Porch Group stock. The shares were sold at an average price of $9.66, for a total transaction of $234,680.04.
• On Thursday, December 4th, Shawn Tabak sold 22,216 shares of Porch Group stock. The shares were sold at an average price of $9.52, for a total value of $211,496.32.

Porch Group Trading Down 6.1%

Shares of NASDAQ PRCH traded down $0.61 during midday trading on Monday, reaching $9.31. 1,188,261 shares of the stock were exchanged, compared to its average volume of 1,381,899. The company has a market capitalization of $1.15 billion, a P/E ratio of 32.10 and a beta of 3.11. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 36.18. Porch Group, Inc. has a 52-week low of $3.72 and a 52-week high of $19.44. The stock has a 50 day moving average price of $12.28 and a 200-day moving average price of $13.58.

Porch Group (NASDAQ:PRCH) last issued its quarterly earnings results on Wednesday, November 5th. The company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $114.42 million. Equities research analysts expect that Porch Group, Inc. will post -0.63 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on PRCH shares. Zacks Research raised Porch Group from a “strong sell” rating to a “hold” rating in a research note on Thursday, December 4th. Oppenheimer set a $20.00 price objective on Porch Group in a research note on Thursday, November 6th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Porch Group in a research note on Monday, December 8th. The Goldman Sachs Group initiated 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 for the company. Finally, B. Riley reaffirmed a “buy” rating on shares of Porch Group in a report on Thursday, November 6th. Seven analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, Porch Group has a consensus rating of “Moderate Buy” and an average target price of $17.00.

Institutional Investors Weigh In On Porch Group

Institutional investors have recently made changes to their positions in the company. The Manufacturers Life Insurance Company lifted its stake in Porch Group by 3.8% during the second quarter. The Manufacturers Life Insurance Company now owns 29,657 shares of the company’s stock worth $350,000 after purchasing an additional 1,090 shares during the last quarter. Alliancebernstein L.P. lifted its position in shares of Porch Group by 1.5% in the 3rd quarter. Alliancebernstein L.P. now owns 80,410 shares of the company’s stock worth $1,349,000 after buying an additional 1,200 shares during the last quarter. Prudential Financial Inc. lifted its position in shares of Porch Group by 9.4% in the 2nd quarter. Prudential Financial Inc. now owns 14,220 shares of the company’s stock worth $168,000 after buying an additional 1,220 shares during the last quarter. Aster Capital Management DIFC Ltd grew its position in shares of Porch Group by 956.3% during the 3rd quarter. Aster Capital Management DIFC Ltd now owns 1,521 shares of the company’s stock valued at $26,000 after buying an additional 1,377 shares during the last quarter. Finally, Larson Financial Group LLC lifted 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 worth $31,000 after acquiring an additional 1,499 shares during the last quarter. 48.48% of the stock is currently owned by institutional investors.

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.