Porch Group (NASDAQ:PRCH) CFO Sells $110,662.30 in Stock

Key Points

• CFO Shawn Tabak sold 10,610 shares on May 5 at an average price of $10.43 for $110,662 to cover tax withholding from vested equity awards, leaving him with 342,405 shares valued at about $3.57 million (a 3.01% ownership drop).
• Tabak has executed a string of sales in April–May totaling roughly 91,026 shares, generating about $738,000 in proceeds, largely to satisfy tax obligations tied to equity vesting.
• Porch stock traded up 1.6% to $11.28 after the quarter in which the company beat EPS and revenue estimates, and analysts hold a consensus "Moderate Buy" rating with a $16.69 target.

Porch Group, Inc. (NASDAQ:PRCH - Get Free Report) CFO Shawn Tabak sold 10,610 shares of the company's stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $10.43, for a total transaction of $110,662.30. Following the completion of the transaction, the chief financial officer owned 342,405 shares in the company, valued at approximately $3,571,284.15. The trade was a 3.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through 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 Friday, May 1st, Shawn Tabak sold 11,215 shares of Porch Group stock. The stock was 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 stock was 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 stock was 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 transaction 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 transaction of $121,047.48.
• On Thursday, April 9th, Shawn Tabak sold 7,734 shares of Porch Group stock. The stock was sold at an average price of $7.15, for a total transaction of $55,298.10.
• On Tuesday, April 7th, Shawn Tabak sold 9,344 shares of Porch Group stock. The stock was sold at an average price of $7.19, for a total transaction of $67,183.36.

Porch Group Stock Up 1.6%

Porch Group stock traded up $0.18 during midday trading on Thursday, hitting $11.28. 1,875,613 shares of the company's stock were exchanged, compared to its average volume of 1,736,951. The company has a debt-to-equity ratio of 14.87, a quick ratio of 1.28 and a current ratio of 1.28. Porch Group, Inc. has a 12 month low of $6.36 and a 12 month high of $19.44. The firm has a 50-day moving average of $7.82 and a two-hundred day moving average of $9.20. The company has a market cap of $1.40 billion, a PE ratio of -66.35 and a beta of 3.24.

Porch Group (NASDAQ:PRCH - Get Free Report) last issued its earnings results on Tuesday, April 28th. The company reported ($0.04) earnings per share (EPS) 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 company had revenue of $109.44 million for the quarter, compared to analysts' expectations of $94.72 million. As a group, analysts expect that Porch Group, Inc. will post -0.04 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have issued reports on PRCH. Zacks Research upgraded shares of Porch Group from a "strong sell" rating to a "hold" rating in a report on Friday, March 6th. Keefe, Bruyette & Woods upgraded shares of Porch Group from a "market perform" rating to an "outperform" rating and lowered their price target for the company from $13.00 to $10.50 in a report on Wednesday, February 11th. Benchmark raised their price target on shares of Porch Group from $21.00 to $22.00 and gave the company a "buy" rating in a report on Wednesday, April 29th. Finally, Stephens initiated coverage on shares of Porch Group in a report on Monday. They issued an "overweight" rating and a $12.00 price target on the stock. Eight equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $16.69.

Institutional Trading of Porch Group

A number of institutional investors have recently bought and sold shares of PRCH. AQR Capital Management LLC boosted its stake in Porch Group by 134.7% in the 1st quarter. AQR Capital Management LLC now owns 226,795 shares of the company's stock worth $1,653,000 after purchasing an additional 130,166 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Porch Group by 4.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 48,275 shares of the company's stock worth $352,000 after purchasing an additional 2,002 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in Porch Group by 2.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,161,064 shares of the company's stock worth $8,464,000 after purchasing an additional 26,119 shares in the last quarter. Creative Planning acquired a new stake in Porch Group in the 2nd quarter worth approximately $136,000. Finally, Legal & General Group Plc boosted its stake in Porch Group by 1,203.8% in the 2nd quarter. Legal & General Group Plc now owns 108,759 shares of the company's stock worth $1,282,000 after purchasing an additional 100,417 shares in the last quarter. 48.48% of the stock is currently owned by institutional investors and hedge funds.

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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