Porch Group (NASDAQ:PRCH) CFO Sells $67,183.36 in Stock

Key Points

• CFO Shawn Tabak sold 9,344 shares at an average price of $7.19 for $67,183.36 to cover tax withholding, trimming his stake by 2.16% to 424,087 shares, per an SEC filing.
• PRCH shares traded down to $7.02 on volume of about 1.46M (below the 50‑day SMA of $7.63), leaving Porch Group with a market cap near $874M and a 1‑year range of $4.64–$19.44.
• Analysts and results are mixed: Porch beat Q4 EPS estimates (-$0.03 vs. -$0.08) with $112.25M revenue, yet the street expects -0.63 EPS for the year and the consensus is a "Moderate Buy" with an average price target of $17.21 (7 Buys, 1 Hold, 1 Sell).

Porch Group, Inc. (NASDAQ:PRCH - Get Free Report) CFO Shawn Tabak sold 9,344 shares of Porch Group stock in a transaction dated Tuesday, April 7th. The shares were sold at an average price of $7.19, for a total value of $67,183.36. Following the completion of the transaction, the chief financial officer owned 424,087 shares of the company's stock, valued at $3,049,185.53. The trade was a 2.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Porch Group Stock Down 2.2%

Shares of PRCH traded down $0.16 during midday trading on Thursday, hitting $7.02. The company had a trading volume of 1,461,674 shares, compared to its average volume of 1,533,128. The company's 50-day simple moving average is $7.63 and its 200-day simple moving average is $10.28. The company has a debt-to-equity ratio of 17.20, a quick ratio of 1.30 and a current ratio of 1.30. The firm has a market capitalization of $873.71 million, a P/E ratio of -140.40 and a beta of 3.09. Porch Group, Inc. has a 1 year low of $4.64 and a 1 year high of $19.44.

Porch Group (NASDAQ:PRCH - Get Free Report) last announced its quarterly earnings data on Wednesday, February 11th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.05. The business had revenue of $112.25 million during the quarter, compared to analysts' expectations of $109.13 million. Porch Group had a negative return on equity of 51.86% and a negative net margin of 0.72%. As a group, sell-side analysts expect that Porch Group, Inc. will post -0.63 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on PRCH. Zacks Research upgraded Porch Group from a "strong sell" rating to a "hold" rating in a research note on Friday, March 6th. Weiss Ratings restated a "sell (d+)" rating on shares of Porch Group in a research note on Monday, December 29th. Keefe, Bruyette & Woods upgraded Porch Group from a "market perform" rating to an "outperform" rating and decreased their target price for the stock from $13.00 to $10.50 in a research note on Wednesday, February 11th. Finally, Benchmark restated a "buy" rating on shares of Porch Group in a research note on Friday, January 16th. Seven analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $17.21.

Institutional Investors Weigh In On Porch Group

Institutional investors have recently added to or reduced their stakes in the business. Osbon Capital Management LLC purchased a new stake in Porch Group during the fourth quarter worth approximately $25,000. Aster Capital Management DIFC Ltd lifted its stake in Porch Group by 956.3% during the third quarter. Aster Capital Management DIFC Ltd now owns 1,521 shares of the company's stock worth $26,000 after purchasing an additional 1,377 shares during the last quarter. Larson Financial Group LLC lifted its stake in Porch Group by 444.8% during the third quarter. Larson Financial Group LLC now owns 1,836 shares of the company's stock worth $31,000 after purchasing an additional 1,499 shares during the last quarter. Kemnay Advisory Services Inc. acquired a new position in Porch Group during the fourth quarter worth approximately $38,000. Finally, RiverPark Advisors LLC acquired a new position in Porch Group during the third quarter worth approximately $39,000. 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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