Insider Selling: Porch Group (NASDAQ:PRCH) CFO Sells 10,881 Shares of Stock

Key Points

• Porch Group CFO Shawn Tabak sold 10,881 shares on May 20 at an average price of $9.78, totaling about $106,416. After the sale, he still held 299,439 shares, and the filing said the transaction was to cover tax withholding obligations tied to vesting equity awards.
• Tabak has been actively selling shares in multiple recent transactions throughout April and May, indicating a steady pattern of insider sales rather than a one-off move.
• Porch Group’s latest earnings beat expectations, reporting a loss of $0.04 per share versus the expected $0.10 loss and revenue of $109.44 million, while analysts currently rate the stock a “Moderate Buy” with an average price target of $17.21.

Porch Group, Inc. (NASDAQ:PRCH - Get Free Report) CFO Shawn Tabak sold 10,881 shares of Porch Group stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $9.78, for a total transaction of $106,416.18. Following the sale, the chief financial officer directly owned 299,439 shares in the company, valued at approximately $2,928,513.42. This trade represents a 3.51% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 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 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 transaction of $108,228.78.
• On Tuesday, May 12th, Shawn Tabak sold 11,107 shares of Porch Group stock. The stock was 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 transaction 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 transaction 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 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 value of $65,848.29.
• On Tuesday, April 14th, Shawn Tabak sold 17,697 shares of Porch Group stock. The stock was sold at an average price of $6.84, for a total value of $121,047.48.

Porch Group Price Performance

Shares of Porch Group stock remained flat at $9.74 during trading on Thursday. 1,190,169 shares of the stock traded hands, compared to its average volume of 1,741,063. The company has a market cap of $1.24 billion, a PE ratio of -57.29 and a beta of 3.24. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 14.87. The business's 50-day simple moving average is $8.29 and its 200-day simple moving average is $8.83. Porch Group, Inc. has a 1-year low of $6.36 and a 1-year high of $19.44.

Porch Group (NASDAQ:PRCH - Get Free Report) last issued its quarterly earnings data on Tuesday, April 28th. The company reported ($0.04) earnings per share for the quarter, topping the consensus estimate 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. As a group, research analysts forecast that Porch Group, Inc. will post -0.04 earnings per share for the current year.

Analyst Upgrades and Downgrades

PRCH has been the subject of several recent research reports. Zacks Research raised Porch Group from a "strong sell" rating to a "hold" rating in a report on Friday, March 6th. Stephens initiated coverage on Porch Group in a report on Monday, May 4th. They set an "overweight" rating and a $12.00 price target for the company. Keefe, Bruyette & Woods raised Porch Group from a "market perform" rating to an "outperform" rating and decreased their price target for the stock from $13.00 to $10.50 in a report on Wednesday, February 11th. Finally, Benchmark increased their price target on Porch Group from $21.00 to $22.00 and gave the stock a "buy" rating in a report on Wednesday, April 29th. Seven analysts have rated the stock with a Buy rating, one has issued 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 an average price target of $17.21.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of PRCH. AQR Capital Management LLC raised its position in Porch Group by 134.7% in the first quarter. AQR Capital Management LLC now owns 226,795 shares of the company's stock worth $1,653,000 after acquiring an additional 130,166 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Porch Group by 4.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 48,275 shares of the company's stock worth $352,000 after acquiring an additional 2,002 shares in the last quarter. Goldman Sachs Group Inc. raised its position in Porch Group by 2.3% in the first quarter. Goldman Sachs Group Inc. now owns 1,161,064 shares of the company's stock worth $8,464,000 after acquiring an additional 26,119 shares in the last quarter. Creative Planning purchased a new position in Porch Group in the second quarter worth $136,000. Finally, Legal & General Group Plc raised its position in Porch Group by 1,203.8% in the second quarter. Legal & General Group Plc now owns 108,759 shares of the company's stock worth $1,282,000 after acquiring an additional 100,417 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.

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