Key Points
- CFO Shawn Tabak sold multiple blocks of Porch stock in December — 22,216 shares on Dec. 4, 10,706 shares on Dec. 11 (for $106,952.94), and 24,294 shares on Dec. 15 — totaling about $553,129 and reducing his position by roughly 6.99% after the Dec. 11 filing.
- Porch shares opened at $9.31 (down 6.1%), trade in a 12‑month range of $3.72–$19.44, and the company has a market cap of $1.15 billion with a PE of 32.10 and a beta of 3.11.
- Porch last missed EPS expectations (‑$0.10 vs. consensus ‑$0.08) despite a revenue beat of $118.08M, and analysts maintain a consensus of "Moderate Buy" with an average target of $17 and several price targets up to $21.
Porch Group, Inc. (NASDAQ:PRCH - Get Free Report) CFO Shawn Tabak sold 10,706 shares of the firm's stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $9.99, for a total transaction of $106,952.94. Following the transaction, the chief financial officer directly owned 142,424 shares in the company, valued at $1,422,815.76. This trade represents a 6.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.
Shawn Tabak also recently made the following trade(s):
- On Monday, December 15th, Shawn Tabak sold 24,294 shares of Porch Group stock. The shares were sold at an average price of $9.66, for a total transaction 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 transaction of $211,496.32.
Porch Group Stock Down 6.1%
Shares of NASDAQ PRCH opened at $9.31 on Tuesday. Porch Group, Inc. has a 12-month low of $3.72 and a 12-month high of $19.44. The stock's fifty day simple moving average is $12.28 and its two-hundred day simple moving average is $13.58. The stock has a market capitalization of $1.15 billion, a PE ratio of 32.10 and a beta of 3.11. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 36.18.
Porch Group (NASDAQ:PRCH - Get Free Report) last issued its quarterly earnings data on Wednesday, November 5th. The company reported ($0.10) earnings per share 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 company had revenue of $118.08 million for the quarter, compared to analysts' expectations of $114.42 million. As a group, analysts expect that Porch Group, Inc. will post -0.63 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
A number of research analysts have recently issued reports on the stock. Oppenheimer set a $20.00 price objective on shares of Porch Group in a research report on Thursday, November 6th. B. Riley reaffirmed a "buy" rating on shares of Porch Group in a report on Thursday, November 6th. Weiss Ratings reiterated a "hold (c-)" rating on shares of Porch Group in a report on Monday, December 8th. Cantor Fitzgerald reissued an "overweight" rating and issued a $20.00 price objective on shares of Porch Group in a research report on Tuesday, September 2nd. Finally, The Goldman Sachs Group started coverage on Porch Group in a research report on Tuesday, September 2nd. They set a "buy" rating and a $21.00 target price on the stock. Seven research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $17.00.
Read Our Latest Analysis on Porch Group
Institutional Inflows and Outflows
Hedge funds have recently modified their holdings of the company. Aster Capital Management DIFC Ltd raised 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 purchasing an additional 1,377 shares during the last quarter. Larson Financial Group LLC increased 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 worth $31,000 after buying an additional 1,499 shares during the period. AlphaQuest LLC purchased a new position in Porch Group during the 2nd quarter worth approximately $33,000. RiverPark Advisors LLC purchased a new position in Porch Group during the 3rd quarter worth approximately $39,000. Finally, State of Alaska Department of Revenue acquired a new stake in Porch Group during the 3rd quarter valued at approximately $80,000. 48.48% of the stock is owned by institutional investors and hedge funds.
About Porch Group
(
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.
Recommended Stories
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].
