Key Points
- Porch Group CFO Shawn Tabak sold 25,000 shares at an average price of $16.21, generating $405,250. The transaction reduced his holdings by 10.4% and was made under a pre-arranged Rule 10b5-1 trading plan.
- Porch Group recently reported quarterly revenue of $131.81 million and earnings per share of $0.05, beating analyst expectations for $122.30 million in revenue and a $0.03 per-share loss.
- Analysts maintain a generally positive view, with six Buy ratings, two Holds and one Sell; the consensus rating is Moderate Buy with an average price target of $18.79, versus a recent share price of $15.85.
Porch Group, Inc. (NASDAQ:PRCH - Get Free Report) CFO Shawn Tabak sold 25,000 shares of the stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $16.21, for a total value of $405,250.00. Following the completion of the sale, the chief financial officer owned 215,495 shares in the company, valued at approximately $3,493,173.95. The trade was a 10.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Shawn Tabak also recently made the following trade(s):
- On Thursday, July 2nd, Shawn Tabak sold 25,000 shares of Porch Group stock. The stock was sold at an average price of $16.13, for a total transaction of $403,250.00.
- On Tuesday, June 2nd, Shawn Tabak sold 3,944 shares of Porch Group stock. The shares were sold at an average price of $10.87, for a total transaction of $42,871.28.
- On Tuesday, May 26th, Shawn Tabak sold 30,000 shares of Porch Group stock. The shares were sold at an average price of $10.08, for a total transaction of $302,400.00.
- On Wednesday, May 20th, Shawn Tabak sold 10,881 shares of Porch Group stock. The stock was 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 value of $108,228.78.
- On Tuesday, May 12th, Shawn Tabak sold 11,107 shares of Porch Group stock. The stock was sold at an average price of $10.52, for a total value of $116,845.64.
Porch Group Trading Up 2.7%
PRCH opened at $15.85 on Friday. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 20.53. The stock's fifty day moving average is $13.00 and its two-hundred day moving average is $9.92. The company has a market capitalization of $2.02 billion, a P/E ratio of -132.08 and a beta of 3.15. Porch Group, Inc. has a 52 week low of $6.36 and a 52 week high of $19.44.
Porch Group (NASDAQ:PRCH - Get Free Report) last issued its earnings results on Wednesday, July 29th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.08. Porch Group had a negative return on equity of 68.47% and a negative net margin of 2.67%.The business had revenue of $131.81 million during the quarter, compared to analysts' expectations of $122.30 million. Analysts forecast that Porch Group, Inc. will post -0.09 earnings per share for the current year.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently commented on the stock. Cantor Fitzgerald boosted their price target on shares of Porch Group from $13.00 to $18.00 and gave the company an "overweight" rating in a report on Thursday, July 30th. Benchmark upped their target price on Porch Group from $22.00 to $23.00 and gave the stock a "buy" rating in a report on Thursday, July 30th. Weiss Ratings upgraded Porch Group from a "sell (d-)" rating to a "sell (d+)" rating in a report on Thursday, July 30th. B. Riley Financial boosted their price target on Porch Group from $19.00 to $21.00 and gave the stock a "buy" rating in a research report on Monday. Finally, Keefe, Bruyette & Woods upped their price objective on Porch Group from $16.25 to $16.50 and gave the stock a "market perform" rating in a research note on Thursday, July 30th. Six equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $18.79.
Check Out Our Latest Analysis on PRCH
Hedge Funds Weigh In On Porch Group
A number of large investors have recently made changes to their positions in the business. Granahan Investment Management LLC grew its stake in Porch Group by 9.4% during the 1st quarter. Granahan Investment Management LLC now owns 12,674,987 shares of the company's stock worth $90,880,000 after buying an additional 1,084,559 shares during the last quarter. BlackRock Inc. acquired a new stake in Porch Group in the second quarter worth about $128,995,000. Vanguard Group Inc. grew its stake in shares of Porch Group by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 7,314,207 shares of the company's stock worth $66,779,000 after acquiring an additional 62,073 shares during the last quarter. Park West Asset Management LLC grew its stake in shares of Porch Group by 131.3% during the fourth quarter. Park West Asset Management LLC now owns 5,050,000 shares of the company's stock worth $46,106,000 after acquiring an additional 2,867,084 shares during the last quarter. Finally, GC Wealth Management RIA LLC acquired a new position in shares of Porch Group during the first quarter valued at about $29,230,000. 48.48% of the stock is owned by institutional investors and hedge funds.
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.
Further Reading
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