Key Points
- Porch Group COO Matthew Neagle sold 63,650 shares on May 12 at an average price of $10.52, worth about $669,598. After the sale, he still held more than 2.11 million shares.
- The sale was part of a steady pattern of insider selling, with Neagle also unloading multiple blocks of stock in recent weeks, mostly to cover tax withholding tied to vested equity awards.
- Porch Group recently beat earnings expectations, posting a smaller-than-expected loss and higher-than-forecast revenue, while analysts currently rate the stock a “Moderate Buy” with a consensus price target of $17.21.
Porch Group, Inc. (NASDAQ:PRCH - Get Free Report) CFO Shawn Tabak sold 11,107 shares of the firm's stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $10.52, for a total value of $116,845.64. Following the sale, the chief financial officer owned 320,787 shares in the company, valued at $3,374,679.24. The trade was a 3.35% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 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 Friday, May 8th, Shawn Tabak sold 10,511 shares of Porch Group stock. The shares were sold at an average price of $11.12, for a total value of $116,882.32.
- On Tuesday, May 5th, Shawn Tabak sold 10,610 shares of Porch Group stock. The shares were sold at an average price of $10.43, for a total value of $110,662.30.
- On Friday, May 1st, Shawn Tabak sold 11,215 shares of Porch Group stock. The shares were sold at an average price of $9.79, for a total value of $109,794.85.
- On Tuesday, April 28th, Shawn Tabak sold 10,454 shares of Porch Group stock. The shares were sold at an average price of $8.11, for a total value of $84,781.94.
- On Friday, April 24th, Shawn Tabak sold 7,875 shares of Porch Group stock. The shares were sold at an average price of $7.68, for a total value of $60,480.00.
- On Tuesday, April 21st, Shawn Tabak sold 7,730 shares of Porch Group stock. The shares were sold at an average price of $8.12, for a total value of $62,767.60.
- On Friday, April 17th, Shawn Tabak sold 8,367 shares of Porch Group stock. The shares were sold at an average price of $7.87, for a total value of $65,848.29.
- 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 Stock Up 1.9%
PRCH opened at $10.43 on Friday. The company has a market cap of $1.33 billion, a P/E ratio of -61.35 and a beta of 3.24. The business's 50-day moving average price is $8.14 and its 200-day moving average price is $8.99. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 14.87. Porch Group, Inc. has a 12 month low of $6.36 and a 12 month high of $19.44.
Porch Group (NASDAQ:PRCH - Get Free Report) last released its quarterly earnings data on Tuesday, April 28th. The company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.10) by $0.06. The firm had revenue of $109.44 million for the quarter, compared to the consensus estimate of $94.72 million. Porch Group had a negative return on equity of 115.59% and a negative net margin of 3.41%. On average, equities analysts expect that Porch Group, Inc. will post -0.04 EPS for the current year.
Institutional Investors Weigh In On Porch Group
A number of institutional investors have recently bought and sold shares of the business. The Manufacturers Life Insurance Company increased its stake in Porch Group by 3.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 29,657 shares of the company's stock worth $350,000 after buying an additional 1,090 shares in the last quarter. Alliancebernstein L.P. increased its stake in Porch Group by 1.5% in the 3rd quarter. Alliancebernstein L.P. now owns 80,410 shares of the company's stock worth $1,349,000 after buying an additional 1,200 shares in the last quarter. Prudential Financial Inc. increased its stake in Porch Group by 9.4% in the 2nd quarter. Prudential Financial Inc. now owns 14,220 shares of the company's stock worth $168,000 after buying an additional 1,220 shares in the last quarter. Aster Capital Management DIFC Ltd increased its stake in Porch Group by 956.3% in the 3rd quarter. Aster Capital Management DIFC Ltd now owns 1,521 shares of the company's stock worth $26,000 after buying an additional 1,377 shares in the last quarter. Finally, Larson Financial Group LLC increased its stake 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 in the last quarter. Hedge funds and other institutional investors own 48.48% of the company's stock.
Wall Street Analyst Weigh In
Several research firms have weighed in on PRCH. Stephens began coverage on Porch Group in a research report on Monday, May 4th. They set an "overweight" rating and a $12.00 price objective on the stock. Zacks Research upgraded Porch Group from a "strong sell" rating to a "hold" rating in a research report on Friday, March 6th. Benchmark lifted their target price on Porch Group from $21.00 to $22.00 and gave the company a "buy" rating in a research report on Wednesday, April 29th. Finally, Keefe, Bruyette & Woods upgraded Porch Group from a "market perform" rating to an "outperform" rating and lowered their target price for the company from $13.00 to $10.50 in a research report on Wednesday, February 11th. Seven research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $17.21.
View Our Latest Stock Report on Porch Group
Porch Group Company Profile
(
Get Free Report)
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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