Porch Group (NASDAQ:PRCH) CFO Sells $109,794.85 in Stock

Key Points

• CFO Shawn Tabak sold 11,215 shares on May 1 at an average price of $9.79 for $109,794.85 to cover tax withholding from vested awards, leaving him with 353,015 shares (a 3.08% reduction).
• Tabak executed multiple additional insider sales in early April through late April, bringing his total recent disposals to about 80,416 shares across those transactions.
• Porch shares jumped about 8.4% to $11.23 on heavy volume after the company beat quarterly revenue and EPS estimates, and analysts hold a consensus "Moderate Buy" rating with an average price target of $16.69.

Porch Group, Inc. (NASDAQ:PRCH - Get Free Report) CFO Shawn Tabak sold 11,215 shares of the firm's stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $9.79, for a total value of $109,794.85. Following the completion of the sale, the chief financial officer directly owned 353,015 shares of the company's stock, valued at $3,456,016.85. The trade was a 3.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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, 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 value 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 value of $60,480.00.
• On Tuesday, April 21st, Shawn Tabak sold 7,730 shares of Porch Group stock. The shares were sold at an average price of $8.12, for a total value of $62,767.60.
• On Friday, April 17th, Shawn Tabak sold 8,367 shares of Porch Group stock. The shares were 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 shares were sold at an average price of $6.84, for a total value of $121,047.48.
• On Thursday, April 9th, Shawn Tabak sold 7,734 shares of Porch Group stock. The shares were sold at an average price of $7.15, for a total value of $55,298.10.
• On Tuesday, April 7th, Shawn Tabak sold 9,344 shares of Porch Group stock. The shares were sold at an average price of $7.19, for a total value of $67,183.36.

Porch Group Trading Up 8.4%

Shares of NASDAQ:PRCH traded up $0.87 during trading on Tuesday, hitting $11.23. The company had a trading volume of 3,267,035 shares, compared to its average volume of 1,726,196. The stock has a market cap of $1.40 billion, a price-to-earnings ratio of -66.05 and a beta of 3.24. Porch Group, Inc. has a one year low of $6.02 and a one year high of $19.44. The company has a fifty day simple moving average of $7.68 and a two-hundred day simple moving average of $9.26. The company has a debt-to-equity ratio of 14.87, a current ratio of 1.28 and a quick ratio of 1.28.

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

Wall Street Analyst Weigh In

PRCH has been the subject of several analyst reports. Stephens started coverage on Porch Group in a research note on Monday. They issued an "overweight" rating and a $12.00 price objective 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 research note on Wednesday, February 11th. Zacks Research raised Porch Group from a "strong sell" rating to a "hold" rating in a research note on Friday, March 6th. Finally, Benchmark raised their price target on Porch Group from $21.00 to $22.00 and gave the stock a "buy" rating in a research note on Wednesday, April 29th. Eight investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $16.69.

Institutional Investors Weigh In On Porch Group

Institutional investors and hedge funds have recently modified their holdings of the business. Aster Capital Management DIFC Ltd lifted its stake 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 worth $26,000 after acquiring an additional 1,377 shares during the last quarter. Larson Financial Group LLC lifted its stake in shares of Porch Group by 444.8% during the 3rd 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. RiverPark Advisors LLC bought a new stake in shares of Porch Group during the 3rd quarter worth approximately $39,000. Osbon Capital Management LLC purchased a new position in Porch Group during the 4th quarter worth $25,000. Finally, Kemnay Advisory Services Inc. purchased a new position in Porch Group during the 4th quarter worth $38,000. 48.48% of the stock is owned by institutional investors.

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.

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