Shawn Tabak Sells 25,000 Shares of Porch Group (NASDAQ:PRCH) Stock

Key Points

• Porch Group CFO Shawn Tabak sold 25,000 shares at an average price of $16.21, generating $405,250. The Rule 10b5-1 transaction reduced his holdings by 10.4% to 215,495 shares.
• Porch Group reported quarterly revenue of $131.81 million, above the $122.30 million analyst estimate, and earnings of $0.05 per share versus the expected $0.03 loss.
• PRCH shares recently traded at $15.85, while analysts maintain a “Moderate Buy” consensus with an average price target of $18.79; the stock has risen substantially from its 52-week low of $6.36.

Porch Group, Inc. (NASDAQ:PRCH - Get Free Report) CFO Shawn Tabak sold 25,000 shares of the firm's stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $16.21, for a total transaction of $405,250.00. Following the completion of the sale, the chief financial officer owned 215,495 shares of the company's stock, valued at $3,493,173.95. This trade represents a 10.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Shawn Tabak also recently made the following trade(s):

• On Thursday, July 2nd, Shawn Tabak sold 25,000 shares of Porch Group stock. The stock was sold at an average price of $16.13, for a total value of $403,250.00.
• On Tuesday, June 2nd, Shawn Tabak sold 3,944 shares of Porch Group stock. The shares were sold at an average price of $10.87, for a total value of $42,871.28.
• On Tuesday, May 26th, Shawn Tabak sold 30,000 shares of Porch Group stock. The shares were sold at an average price of $10.08, for a total value of $302,400.00.
• On Wednesday, May 20th, Shawn Tabak sold 10,881 shares of Porch Group stock. The shares were 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.

Porch Group Stock Performance

PRCH traded up $0.41 during trading hours on Friday, reaching $15.85. The company's stock had a trading volume of 1,383,688 shares, compared to its average volume of 1,815,227. The company's 50-day moving average is $12.89 and its 200-day moving average is $9.88. Porch Group, Inc. has a 52 week low of $6.36 and a 52 week high of $19.44. The firm has a market cap of $2.02 billion, a PE ratio of -132.08 and a beta of 3.15. The company has a debt-to-equity ratio of 20.53, a quick ratio of 1.45 and a current ratio of 1.45.

Porch Group (NASDAQ:PRCH - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The company reported $0.05 EPS for the quarter, topping analysts' consensus estimates of ($0.03) by $0.08. Porch Group had a negative net margin of 2.67% and a negative return on equity of 68.47%. The firm had revenue of $131.81 million during the quarter, compared to analysts' expectations of $122.30 million. On average, equities analysts forecast that Porch Group, Inc. will post -0.09 EPS for the current year.

Hedge Funds Weigh In On Porch Group

Institutional investors and hedge funds have recently modified their holdings of the business. Larson Financial Group LLC boosted its holdings in Porch Group by 444.8% in the 3rd quarter. Larson Financial Group LLC now owns 1,836 shares of the company's stock valued at $31,000 after purchasing an additional 1,499 shares during the period. Osbon Capital Management LLC acquired a new position in shares of Porch Group during the 4th quarter worth approximately $25,000. Aster Capital Management DIFC Ltd increased its holdings in shares of Porch Group by 97.4% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 3,002 shares of the company's stock worth $27,000 after purchasing an additional 1,481 shares during the period. Kemnay Advisory Services Inc. acquired a new stake in shares of Porch Group in the fourth quarter valued at approximately $38,000. Finally, State of Wyoming acquired a new stake in shares of Porch Group in the second quarter valued at approximately $64,000. 48.48% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PRCH has been the topic of a number of research reports. Cantor Fitzgerald upped their price target on shares of Porch Group from $13.00 to $18.00 and gave the company an "overweight" rating in a research note on Thursday, July 30th. Benchmark raised their price objective on shares of Porch Group from $22.00 to $23.00 and gave the stock a "buy" rating in a research report on Thursday, July 30th. Keefe, Bruyette & Woods boosted their price objective on Porch Group from $16.25 to $16.50 and gave the stock a "market perform" rating in a report on Thursday, July 30th. B. Riley Financial upped their target price on Porch Group from $19.00 to $21.00 and gave the company a "buy" rating in a research report on Monday. Finally, Weiss Ratings upgraded Porch Group from a "sell (d-)" rating to a "sell (d+)" rating in a research note on Thursday, July 30th. Six analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $18.79.

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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