Key Points
- Porch Group CFO Shawn Tabak sold 30,000 shares on May 26 at an average price of $10.08, totaling about $302,400. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
- Tabak has been steadily trimming his stake, with multiple recent sales throughout April and May. After the latest transaction, he still owns 269,439 shares valued at about $2.72 million.
- Porch Group shares were up 1.7% to $10.34, and the company recently beat quarterly earnings and revenue estimates. Analyst sentiment remains mixed but leans positive, with a Moderate Buy consensus and a $17.21 average price target.
Porch Group, Inc. (NASDAQ:PRCH - Get Free Report) CFO Shawn Tabak sold 30,000 shares of Porch Group stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $10.08, for a total transaction of $302,400.00. Following the sale, the chief financial officer directly owned 269,439 shares of the company's stock, valued at $2,715,945.12. This trade represents a 10.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Shawn Tabak also recently made the following trade(s):
- 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 transaction of $106,416.18.
- On Friday, May 15th, Shawn Tabak sold 10,467 shares of Porch Group stock. The shares were sold at an average price of $10.34, for a total transaction of $108,228.78.
- On Tuesday, May 12th, Shawn Tabak sold 11,107 shares of Porch Group stock. The shares were sold at an average price of $10.52, for a total transaction of $116,845.64.
- 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 transaction 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 transaction 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 transaction 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 transaction 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 transaction 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 transaction of $62,767.60.
- On Friday, April 17th, Shawn Tabak sold 8,367 shares of Porch Group stock. The stock was sold at an average price of $7.87, for a total value of $65,848.29.
Porch Group Trading Up 1.7%
NASDAQ:PRCH opened at $10.34 on Friday. The stock's 50 day moving average price is $8.57 and its 200 day moving average price is $8.67. Porch Group, Inc. has a 52 week low of $6.36 and a 52 week high of $19.44. The company has a market capitalization of $1.32 billion, a P/E ratio of -60.82 and a beta of 3.24. The company has a debt-to-equity ratio of 14.87, a quick ratio of 1.28 and a current ratio of 1.28.
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 analysts' consensus estimates of ($0.10) by $0.06. Porch Group had a negative return on equity of 115.59% and a negative net margin of 3.41%.The firm had revenue of $109.44 million for the quarter, compared to the consensus estimate of $94.72 million. On average, research analysts forecast that Porch Group, Inc. will post -0.04 EPS for the current fiscal year.
Wall Street Analyst Weigh In
Several equities research analysts recently issued reports on PRCH shares. Keefe, Bruyette & Woods raised shares of Porch Group from a "market perform" rating to an "outperform" rating and reduced their price objective for the company from $13.00 to $10.50 in a research note on Wednesday, February 11th. Zacks Research raised shares of Porch Group from a "strong sell" rating to a "hold" rating in a research note on Friday, March 6th. Benchmark lifted their price objective on shares of Porch Group from $21.00 to $22.00 and gave the company a "buy" rating in a research note on Wednesday, April 29th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Porch Group in a research note on Friday, May 22nd. Finally, Stephens started coverage on shares of Porch Group in a research note on Monday, May 4th. They issued an "overweight" rating and a $12.00 price objective for the company. Seven analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Porch Group presently has an average rating of "Moderate Buy" and a consensus price target of $17.21.
View Our Latest Report on PRCH
Institutional Investors Weigh In On Porch Group
Institutional investors and hedge funds have recently modified their holdings of the business. Bank of America Corp DE lifted its position in Porch Group by 34.8% during the 1st quarter. Bank of America Corp DE now owns 364,015 shares of the company's stock worth $2,610,000 after acquiring an additional 94,033 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in Porch Group by 3,773.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 15,339 shares of the company's stock worth $110,000 after acquiring an additional 14,943 shares during the last quarter. California State Teachers Retirement System lifted its position in Porch Group by 41.4% during the 1st quarter. California State Teachers Retirement System now owns 90,632 shares of the company's stock worth $650,000 after acquiring an additional 26,528 shares during the last quarter. Ashford Capital Management Inc. lifted its position in Porch Group by 72.0% during the 1st quarter. Ashford Capital Management Inc. now owns 696,180 shares of the company's stock worth $4,992,000 after acquiring an additional 291,510 shares during the last quarter. Finally, Quantinno Capital Management LP lifted its position in Porch Group by 195.9% during the 1st quarter. Quantinno Capital Management LP now owns 73,939 shares of the company's stock worth $530,000 after acquiring an additional 48,949 shares during the last quarter. Institutional investors and hedge funds own 48.48% of the company's stock.
About Porch Group
(
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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