Key Points
- Porch Group CFO Shawn Tabak sold 2,746 shares for $46,215.18 at an average price of $16.83, reducing his holdings by 1.27% to 212,749 shares. The sale was reportedly made to cover tax withholding tied to vested equity awards.
- Porch Group recently exceeded quarterly expectations, reporting earnings of $0.05 per share versus an expected loss of $0.03 and revenue of $131.81 million versus $122.30 million expected. However, the company remains unprofitable, with analysts forecasting a full-year loss.
- Investor sentiment is broadly positive: analysts maintain a “Moderate Buy” consensus with an average price target of $18.75, while institutional investors own 48.48% of the company’s stock.
Porch Group, Inc. (NASDAQ:PRCH - Get Free Report) CFO Shawn Tabak sold 2,746 shares of Porch Group stock in a transaction that occurred on Monday, October 5th. The stock was sold at an average price of $16.83, for a total value of $46,215.18. Following the completion of the transaction, the chief financial officer owned 212,749 shares of the company's stock, valued at approximately $3,580,565.67. This trade represents a 1.27% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 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 Tuesday, October 6th, Shawn Tabak sold 6,690 shares of Porch Group stock. The shares were sold at an average price of $17.35, for a total value of $116,071.50.
- On Wednesday, August 5th, Shawn Tabak sold 25,000 shares of Porch Group stock. The shares were sold at an average price of $16.21, for a total value of $405,250.00.
Porch Group Stock Performance
NASDAQ:PRCH opened at $17.31 on Thursday. The firm has a market capitalization of $2.28 billion, a PE ratio of -144.25 and a beta of 3.18. The stock's fifty day moving average is $16.66 and its 200 day moving average is $12.67. Porch Group, Inc. has a fifty-two week low of $6.36 and a fifty-two week high of $18.37. The company has a debt-to-equity ratio of 20.53, a quick ratio of 1.45 and a current ratio of 1.45.
Porch Group (NASDAQ:PRCH - Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of ($0.03) by $0.08. Porch Group had a negative net margin of 2.67% and a negative return on equity of 68.47%. The company had revenue of $131.81 million during the quarter, compared to analyst estimates of $122.30 million. On average, sell-side analysts anticipate that Porch Group, Inc. will post -0.09 earnings per share for the current year.
Hedge Funds Weigh In On Porch Group
Several institutional investors and hedge funds have recently bought and sold shares of PRCH. Osbon Capital Management LLC purchased a new position in Porch Group in the fourth quarter worth $25,000. State of Wyoming purchased a new stake in shares of Porch Group during the 2nd quarter valued at $64,000. PNC Financial Services Group Inc. lifted its holdings in shares of Porch Group by 697.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 9,390 shares of the company's stock valued at $67,000 after purchasing an additional 8,213 shares during the last quarter. Cetera Investment Advisers acquired a new stake in shares of Porch Group in the 1st quarter worth $74,000. Finally, Persistent Asset Partners Ltd acquired a new stake in shares of Porch Group in the 2nd quarter worth $103,000. 48.48% of the stock is owned by hedge funds and other institutional investors.
Key Stories Impacting Porch Group
Here are the key news stories impacting Porch Group this week:
- Positive Sentiment: Porch Group’s stock gained attention after a report highlighted stronger second-quarter profitability and a reset of company guidance that improved the outlook. The company’s latest reported quarter also exceeded expectations, with earnings of $0.05 per share versus a $0.03 loss expected and revenue of $131.8 million versus a $122.3 million consensus. Porch Group stock gains as Q2 profit and guidance reset outlook
- Positive Sentiment: Analyst sentiment remains broadly favorable, with a consensus rating of “Moderate Buy” and an average price target of $18.75. Recent institutional purchases, including new positions by BlackRock and Park West Asset Management, also suggest continued interest from large investors.
- Neutral Sentiment: CEO Matt Ehrlichman, COO Matthew Neagle, CFO Shawn Tabak and director Amanda Reierson reported selling shares over October 5–6. The transactions represented approximately 123,000 shares in total, but the filings state that the executive sales were made to cover tax withholding obligations tied to vested equity awards; the director’s transaction occurred under a pre-arranged Rule 10b5-1 plan. SEC insider transaction filing
- Negative Sentiment: Although the sales appear largely mechanical rather than discretionary, investors may still view repeated selling by senior management as a short-term caution signal—particularly while Porch Group remains unprofitable, with a negative price-to-earnings ratio and projected full-year losses.
Wall Street Analyst Weigh In
A number of analysts recently issued reports on the company. 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 upped their price objective on Porch Group from $19.00 to $21.00 and gave the stock a "buy" rating in a research note on Monday, August 3rd. Keefe, Bruyette & Woods raised their price objective on Porch Group from $16.25 to $16.50 and gave the company a "market perform" rating in a research report on Thursday, July 30th. Texas Capital upgraded Porch Group to a "strong-buy" rating in a research note on Tuesday, September 22nd. Finally, Cantor Fitzgerald boosted their target price on shares of Porch Group from $18.00 to $20.00 and gave the stock an "overweight" rating in a report on Friday, September 25th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $18.75.
View Our Latest Stock Report on Porch Group
About Porch Group
(
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Porch Group, Inc is a vertical software company focused on the home services industry. Through its technology platforms and related services, the company helps home-service businesses manage operations, attract customers, improve workflow efficiency and support transactions connected with buying, selling, maintaining and moving into homes.
Porch Group's products and services have included customer relationship management, marketing and lead-generation tools, payments, workflow software and other business solutions for contractors and home-service professionals.
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