Porch Group (NASDAQ:PRCH) CFO Shawn Tabak Sells 8,367 Shares

Key Points

• Porch Group CFO Shawn Tabak sold 8,367 shares on April 17 at an average price of $7.87 for about $65,848, leaving him with 390,289 shares (a 2.10% ownership decrease).
• Tabak also made several other sales earlier in April — 17,697 shares on Apr 14 at $6.84, 7,734 shares on Apr 9 at $7.15 and 9,344 shares on Apr 7 at $7.19 — reflecting significant month‑to‑date insider selling.
• Porch Group trades near $7.95 with a market cap of roughly $989M and a 12‑month range of $4.68–$19.44; analysts’ consensus is a “Moderate Buy” with an average price target of $17.21.

Porch Group, Inc. (NASDAQ:PRCH - Get Free Report) CFO Shawn Tabak sold 8,367 shares of Porch Group stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $7.87, for a total value of $65,848.29. Following the transaction, the chief financial officer owned 390,289 shares of the company's stock, valued at approximately $3,071,574.43. This represents a 2.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available 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 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 Price Performance

PRCH traded down $0.03 during trading on Tuesday, hitting $7.95. The company's stock had a trading volume of 1,375,800 shares, compared to its average volume of 1,536,387. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 17.20. Porch Group, Inc. has a twelve month low of $4.68 and a twelve month high of $19.44. The business's fifty day simple moving average is $7.64 and its 200 day simple moving average is $9.67. The firm has a market capitalization of $989.46 million, a price-to-earnings ratio of -159.00 and a beta of 3.09.

Porch Group (NASDAQ:PRCH - Get Free Report) last issued its quarterly earnings data on Wednesday, February 11th. The company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.08) by $0.05. Porch Group had a negative return on equity of 51.86% and a negative net margin of 0.72%.The company had revenue of $112.25 million for the quarter, compared to analyst estimates of $109.13 million. On average, equities research analysts forecast that Porch Group, Inc. will post 0.02 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have commented on PRCH shares. Weiss Ratings reissued a "sell (d+)" rating on shares of Porch Group in a report on Monday, December 29th. Zacks Research raised Porch Group from a "strong sell" rating to a "hold" rating in a report on Friday, March 6th. Benchmark reissued a "buy" rating on shares of Porch Group in a report on Friday, January 16th. Finally, Keefe, Bruyette & Woods raised Porch Group from a "market perform" rating to an "outperform" rating and dropped their price objective for the company from $13.00 to $10.50 in a report on Wednesday, February 11th. Seven research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $17.21.

Institutional Trading of Porch Group

A number of institutional investors have recently made changes to their positions in the company. The Manufacturers Life Insurance Company boosted its stake in shares of Porch Group by 3.8% in the second quarter. The Manufacturers Life Insurance Company now owns 29,657 shares of the company's stock worth $350,000 after acquiring an additional 1,090 shares during the last quarter. Alliancebernstein L.P. boosted its stake in shares of Porch Group by 1.5% in the third quarter. Alliancebernstein L.P. now owns 80,410 shares of the company's stock worth $1,349,000 after acquiring an additional 1,200 shares during the last quarter. Prudential Financial Inc. boosted its stake in shares of Porch Group by 9.4% in the second quarter. Prudential Financial Inc. now owns 14,220 shares of the company's stock worth $168,000 after acquiring an additional 1,220 shares during the last quarter. Aster Capital Management DIFC Ltd boosted its stake in shares of Porch Group by 956.3% in the third 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. Finally, Larson Financial Group LLC boosted its stake in shares of Porch Group by 444.8% in the third 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. 48.48% of the stock is owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.