Porch Group (NASDAQ:PRCH) CFO Shawn Tabak Sells 10,706 Shares of Stock

Porch Group, Inc. (NASDAQ:PRCH) CFO Shawn Tabak sold 10,706 shares of the stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $9.99, for a total value of $106,952.94. Following the transaction, the chief financial officer directly owned 142,424 shares of the company’s stock, valued at approximately $1,422,815.76. The trade was a 6.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

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

• On Monday, December 15th, Shawn Tabak sold 24,294 shares of Porch Group stock. The stock was sold at an average price of $9.66, for a total value of $234,680.04.
• On Thursday, December 4th, Shawn Tabak sold 22,216 shares of Porch Group stock. The shares were sold at an average price of $9.52, for a total value of $211,496.32.

Porch Group Trading Down 6.1%

Shares of PRCH opened at $9.31 on Tuesday. The stock has a market capitalization of $1.15 billion, a PE ratio of 32.10 and a beta of 3.11. The company’s fifty day moving average is $12.28 and its 200 day moving average is $13.58. The company has a debt-to-equity ratio of 36.18, a quick ratio of 1.33 and a current ratio of 1.33. Porch Group, Inc. has a fifty-two week low of $3.72 and a fifty-two week high of $19.44.

Porch Group (NASDAQ:PRCH) last issued its quarterly earnings data on Wednesday, November 5th. The company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.02). Porch Group had a negative return on equity of 51.86% and a net margin of 6.91%.The business had revenue of $118.08 million during the quarter, compared to analysts’ expectations of $114.42 million. Sell-side analysts expect that Porch Group, Inc. will post -0.63 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on PRCH shares. Benchmark reiterated a “buy” rating on shares of Porch Group in a report on Tuesday, November 25th. Zacks Research raised shares of Porch Group from a “strong sell” rating to a “hold” rating in a research note on Thursday, December 4th. Oppenheimer set a $20.00 target price on shares of Porch Group in a research note on Thursday, November 6th. B. Riley reaffirmed a “buy” rating on shares of Porch Group in a research note on Thursday, November 6th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $20.00 price target on shares of Porch Group in a report on Tuesday, September 2nd. Seven analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $17.00.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Aster Capital Management DIFC Ltd lifted its holdings in Porch Group by 956.3% during the 3rd quarter. Aster Capital Management DIFC Ltd now owns 1,521 shares of the company’s stock valued at $26,000 after buying an additional 1,377 shares in the last quarter. Larson Financial Group LLC raised its stake in shares of Porch Group by 444.8% during the third quarter. Larson Financial Group LLC now owns 1,836 shares of the company’s stock valued at $31,000 after acquiring an additional 1,499 shares in the last quarter. RiverPark Advisors LLC purchased a new stake in shares of Porch Group in the third quarter valued at approximately $39,000. AlphaQuest LLC bought a new position in Porch Group in the second quarter worth approximately $33,000. Finally, State of Alaska Department of Revenue purchased a new position in Porch Group during the 3rd quarter worth $80,000. 48.48% of the stock is currently owned by institutional investors.

About Porch Group

Porch Group, Inc, together with its subsidiaries, operates a vertical software and insurance platform in the United States. The company operates in two segments, Vertical Software and Insurance. The Vertical Software segment provides software and services to inspection, mortgage, and title companies on a subscription and transactional basis, as well as move and post-move services.