Porch Group (NASDAQ:PRCH) CFO Shawn Tabak Sells 8,367 Shares
by Teresa Graham · The Cerbat GemPorch Group, Inc. (NASDAQ:PRCH – Get Free Report) CFO Shawn Tabak sold 8,367 shares of Porch Group stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of $7.87, for a total value of $65,848.29. Following the completion of the sale, the chief financial officer directly owned 390,289 shares in the company, valued at $3,071,574.43. This represents a 2.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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, April 14th, Shawn Tabak sold 17,697 shares of Porch Group stock. The stock was 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 stock was 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 stock was sold at an average price of $7.19, for a total value of $67,183.36.
Porch Group Price Performance
Shares of NASDAQ:PRCH traded down $0.03 during trading on Tuesday, reaching $7.95. The stock had a trading volume of 1,375,800 shares, compared to its average volume of 1,536,387. The business has a fifty day moving average price of $7.64 and a 200-day moving average price of $9.67. The stock has a market cap of $989.46 million, a PE ratio of -159.00 and a beta of 3.09. The company has a debt-to-equity ratio of 17.20, a quick ratio of 1.30 and a current ratio of 1.30. Porch Group, Inc. has a 1-year low of $4.68 and a 1-year high of $19.44.
Porch Group (NASDAQ:PRCH – Get Free Report) last released its quarterly earnings data on Wednesday, February 11th. The company reported ($0.03) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.05. The company had revenue of $112.25 million for the quarter, compared to analyst estimates of $109.13 million. Porch Group had a negative return on equity of 51.86% and a negative net margin of 0.72%. On average, equities analysts forecast that Porch Group, Inc. will post 0.02 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Porch Group
A number of institutional investors and hedge funds have recently added to or reduced their stakes in PRCH. Osbon Capital Management LLC purchased a new stake in Porch Group in the fourth quarter valued at $25,000. Aster Capital Management DIFC Ltd raised its position in Porch Group by 956.3% in the third quarter. Aster Capital Management DIFC Ltd now owns 1,521 shares of the company’s stock valued at $26,000 after purchasing an additional 1,377 shares during the period. Larson Financial Group LLC raised its position in Porch Group by 444.8% in the third quarter. Larson Financial Group LLC now owns 1,836 shares of the company’s stock valued at $31,000 after purchasing an additional 1,499 shares during the period. Kemnay Advisory Services Inc. purchased a new stake in Porch Group in the fourth quarter valued at $38,000. Finally, RiverPark Advisors LLC purchased a new stake in Porch Group in the third quarter valued at $39,000. Hedge funds and other institutional investors own 48.48% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities analysts have weighed in on PRCH shares. Weiss Ratings reissued a “sell (d+)” rating on shares of Porch Group in a research note on Monday, December 29th. Benchmark reissued a “buy” rating on shares of Porch Group in a research note on Friday, January 16th. Zacks Research raised Porch Group from a “strong sell” rating to a “hold” rating in a research note on Friday, March 6th. Finally, Keefe, Bruyette & Woods raised Porch Group from a “market perform” rating to an “outperform” rating and lowered their price objective for the stock from $13.00 to $10.50 in a research note on Wednesday, February 11th. Seven equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $17.21.
View Our Latest Report on Porch Group
Porch Group Company Profile
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.