Key Points
- CFO Shawn Tabak sold 22,216 shares on Dec. 4 at an average of $9.52 for $211,496, cutting his stake by 12.67% to 153,130 shares valued at about $1.46M.
- Porch reported ($0.10) EPS vs. ($0.08) expected and revenue of $118.08M (vs. $114.42M), with a net margin of 6.91% but a negative return on equity of 51.86%.
- Analysts hold a "Moderate Buy" consensus with an average price target of $17; the stock opened at $9.36 (down 2.9%), with a market cap of $1.16B and a 1-year range of $3.72–$19.44.
Porch Group, Inc. (NASDAQ:PRCH - Get Free Report) CFO Shawn Tabak sold 22,216 shares of the firm's stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $9.52, for a total value of $211,496.32. Following the transaction, the chief financial officer owned 153,130 shares of the company's stock, valued at $1,457,797.60. This trade represents a 12.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
Porch Group Stock Down 2.9%
Shares of NASDAQ:PRCH opened at $9.36 on Friday. The firm has a market capitalization of $1.16 billion, a PE ratio of 32.28 and a beta of 3.11. Porch Group, Inc. has a 1 year low of $3.72 and a 1 year high of $19.44. The company has a debt-to-equity ratio of 36.18, a current ratio of 1.33 and a quick ratio of 1.33. The firm's 50-day moving average is $13.11 and its two-hundred day moving average is $13.53.
Porch Group (NASDAQ:PRCH - Get Free Report) last posted its quarterly earnings data on Wednesday, November 5th. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.02). Porch Group had a net margin of 6.91% and a negative return on equity of 51.86%. The business had revenue of $118.08 million during the quarter, compared to analysts' expectations of $114.42 million. Analysts predict that Porch Group, Inc. will post -0.63 EPS for the current year.
Hedge Funds Weigh In On Porch Group
A number of institutional investors and hedge funds have recently added to or reduced their stakes in PRCH. Aster Capital Management DIFC Ltd increased its stake in Porch Group by 956.3% in the third quarter. Aster Capital Management DIFC Ltd now owns 1,521 shares of the company's stock valued at $26,000 after purchasing an additional 1,377 shares during the last quarter. Larson Financial Group LLC boosted its holdings in shares of 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 buying an additional 1,499 shares in the last quarter. AlphaQuest LLC acquired a new position in shares of Porch Group in the 2nd quarter valued at $33,000. RiverPark Advisors LLC purchased a new position in shares of Porch Group in the 3rd quarter valued at $39,000. Finally, State of Alaska Department of Revenue acquired a new stake in Porch Group during the 3rd quarter worth $80,000. 48.48% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of analysts have recently weighed in on the company. Keefe, Bruyette & Woods upped their price objective on Porch Group from $7.00 to $16.00 and gave the stock a "market perform" rating in a research report on Wednesday, August 13th. Weiss Ratings raised Porch Group from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Monday. The Goldman Sachs Group initiated coverage on shares of Porch Group in a report on Tuesday, September 2nd. They issued a "buy" rating and a $21.00 target price on the stock. B. Riley reissued a "buy" rating on shares of Porch Group in a research report on Thursday, November 6th. Finally, Benchmark restated a "buy" rating on shares of Porch Group in a report on Tuesday, November 25th. Seven equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $17.00.
View Our Latest Stock Report on Porch Group
Porch Group Company Profile
(
Get Free Report)
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.
Featured Articles
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
