Porch Group, Inc. (NASDAQ:PRCH - Get Free Report) CFO Shawn Tabak sold 30,000 shares of the company's stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $10.08, for a total value of $302,400.00. Following the completion of the sale, the chief financial officer directly owned 269,439 shares of the company's stock, valued at approximately $2,715,945.12. This represents a 10.02% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available 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 Wednesday, May 20th, Shawn Tabak sold 10,881 shares of Porch Group stock. The stock was sold at an average price of $9.78, for a total value 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 stock was sold at an average price of $10.52, for a total value of $116,845.64.
- On Friday, May 8th, Shawn Tabak sold 10,511 shares of Porch Group stock. The stock was sold at an average price of $11.12, for a total value of $116,882.32.
- On Tuesday, May 5th, Shawn Tabak sold 10,610 shares of Porch Group stock. The stock was sold at an average price of $10.43, for a total value of $110,662.30.
- 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 value 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 value 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 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.
Porch Group Trading Up 1.7%
PRCH traded up $0.17 on Thursday, hitting $10.34. 1,302,155 shares of the company were exchanged, compared to its average volume of 1,727,947. 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 fifty day simple moving average of $8.51 and a two-hundred day simple moving average of $8.67. The stock has a market capitalization of $1.32 billion, a PE ratio of -60.82 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. The firm had revenue of $109.44 million for the quarter, compared to analysts' expectations of $94.72 million. Porch Group had a negative net margin of 3.41% and a negative return on equity of 115.59%. Sell-side analysts expect that Porch Group, Inc. will post -0.04 earnings per share for the current year.
Analyst Upgrades and Downgrades
Several research firms recently issued reports on PRCH. Stephens initiated coverage on Porch Group in a research note on Monday, May 4th. They issued an "overweight" rating and a $12.00 target price on the stock. Keefe, Bruyette & Woods upgraded Porch Group from a "market perform" rating to an "outperform" rating and reduced their price target for the company from $13.00 to $10.50 in a report on Wednesday, February 11th. Zacks Research upgraded Porch Group from a "strong sell" rating to a "hold" rating in a report on Friday, March 6th. Weiss Ratings restated a "sell (d-)" rating on shares of Porch Group in a report on Friday, May 22nd. Finally, Benchmark upped their target price on Porch Group from $21.00 to $22.00 and gave the company a "buy" rating in a report on Wednesday, April 29th. Seven analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Porch Group has a consensus rating of "Moderate Buy" and an average target price of $17.21.
Check Out Our Latest Research Report on PRCH
Hedge Funds Weigh In On Porch Group
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Granahan Investment Management LLC raised its holdings in shares of Porch Group by 9.4% during the first quarter. Granahan Investment Management LLC now owns 12,674,987 shares of the company's stock valued at $90,880,000 after acquiring an additional 1,084,559 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Porch Group by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 7,314,207 shares of the company's stock valued at $66,779,000 after acquiring an additional 62,073 shares in the last quarter. Park West Asset Management LLC raised its holdings in shares of Porch Group by 131.3% during the fourth quarter. Park West Asset Management LLC now owns 5,050,000 shares of the company's stock valued at $46,106,000 after acquiring an additional 2,867,084 shares in the last quarter. GC Wealth Management RIA LLC bought a new position in Porch Group in the first quarter worth $29,230,000. Finally, Invesco Ltd. raised its holdings in Porch Group by 448.4% in the third quarter. Invesco Ltd. now owns 3,795,064 shares of the company's stock worth $63,681,000 after purchasing an additional 3,103,018 shares in the last quarter. Institutional investors own 48.48% of the company's stock.
About Porch Group
(
Get Free Report)
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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