Porch Group (NASDAQ:PRCH) CFO Shawn Tabak Sells 25,000 Shares

Porch Group, Inc. (NASDAQ:PRCH) CFO Shawn Tabak sold 25,000 shares of Porch Group stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $16.21, for a total transaction of $405,250.00. Following the completion of the sale, the chief financial officer owned 215,495 shares of the company’s stock, valued at $3,493,173.95. This represents a 10.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Thursday, July 2nd, Shawn Tabak sold 25,000 shares of Porch Group stock. The shares were sold at an average price of $16.13, for a total value of $403,250.00.
• On Tuesday, June 2nd, Shawn Tabak sold 3,944 shares of Porch Group stock. The shares were sold at an average price of $10.87, for a total transaction of $42,871.28.
• On Tuesday, May 26th, Shawn Tabak sold 30,000 shares of Porch Group stock. The stock was sold at an average price of $10.08, for a total transaction of $302,400.00.
• 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 stock was sold at an average price of $10.34, for a total value 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 value of $116,845.64.

Porch Group Trading Up 2.7%

Shares of NASDAQ:PRCH opened at $15.85 on Friday. Porch Group, Inc. has a 12-month low of $6.36 and a 12-month high of $19.44. The company has a market cap of $2.02 billion, a PE ratio of -132.08 and a beta of 3.15. The stock has a 50 day moving average of $13.00 and a 200 day moving average of $9.92. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 20.53.

Porch Group (NASDAQ:PRCH) last posted its quarterly earnings results on Wednesday, July 29th. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.08. The business had revenue of $131.81 million during the quarter, compared to analyst estimates of $122.30 million. Porch Group had a negative net margin of 2.67% and a negative return on equity of 68.47%. As a group, equities research analysts expect that Porch Group, Inc. will post -0.09 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on PRCH. Stephens started coverage on Porch Group in a research report on Monday, May 4th. They set an “overweight” rating and a $12.00 target price for the company. Weiss Ratings raised Porch Group from a “sell (d-)” rating to a “sell (d+)” rating in a report on Thursday, July 30th. 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. B. Riley Financial increased their price objective on shares of Porch Group from $19.00 to $21.00 and gave the company a “buy” rating in a report on Monday. Finally, Cantor Fitzgerald increased their price target on Porch Group from $13.00 to $18.00 and gave the company an “overweight” rating in a research note on Thursday, July 30th. Six research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $18.79.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in PRCH. BlackRock Inc. bought a new stake in Porch Group during the second quarter worth approximately $128,995,000. Deutsche Bank AG purchased a new stake in shares of Porch Group in the second quarter valued at $1,510,000. Persistent Asset Partners Ltd bought a new stake in shares of Porch Group in the 2nd quarter worth about $103,000. Bank of New York Mellon Corp purchased a new position in shares of Porch Group during the 2nd quarter worth about $5,608,000. Finally, State of Wyoming bought a new position in Porch Group during the 2nd quarter valued at about $64,000. Institutional investors own 48.48% of the company’s stock.

Porch Group Company Profile

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.