Porch Group (NASDAQ:PRCH) CFO Shawn Tabak Sells 17,697 Shares
by Jessica Moore · The Cerbat GemPorch Group, Inc. (NASDAQ:PRCH – Get Free Report) CFO Shawn Tabak sold 17,697 shares of Porch Group stock in a transaction dated Tuesday, April 14th. The stock was sold at an average price of $6.84, for a total value of $121,047.48. Following the sale, the chief financial officer owned 398,656 shares of the company’s stock, valued at approximately $2,726,807.04. This represents a 4.25% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through 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 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 transaction 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 transaction of $67,183.36.
Porch Group Trading Up 3.6%
NASDAQ PRCH traded up $0.27 during mid-day trading on Thursday, reaching $7.71. 1,693,775 shares of the stock were exchanged, compared to its average volume of 1,523,527. Porch Group, Inc. has a 1-year low of $4.64 and a 1-year high of $19.44. The business’s fifty day simple moving average is $7.58 and its 200 day simple moving average is $9.90. The stock has a market capitalization of $959.59 million, a PE ratio of -154.20 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 (NASDAQ:PRCH – Get Free Report) last announced its earnings results on Wednesday, February 11th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.05. Porch Group had a negative net margin of 0.72% and a negative return on equity of 51.86%. The firm had revenue of $112.25 million for the quarter, compared to analyst estimates of $109.13 million. On average, research analysts anticipate that Porch Group, Inc. will post -0.63 earnings per share for the current fiscal year.
Analysts Set New Price Targets
PRCH has been the subject of several recent research reports. Keefe, Bruyette & Woods raised shares of Porch Group from a “market perform” rating to an “outperform” rating and cut their target price 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 report on Friday, March 6th. Benchmark reissued a “buy” rating on shares of Porch Group in a research report on Friday, January 16th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Porch Group in a research report on Monday, December 29th. 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 MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $17.21.
Get Our Latest Stock Report on PRCH
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in the stock. Diversified Trust Co raised its stake in shares of Porch Group by 19.7% in the 1st quarter. Diversified Trust Co now owns 33,287 shares of the company’s stock valued at $239,000 after acquiring an additional 5,487 shares in the last quarter. Osbon Capital Management LLC acquired a new position in Porch Group during the 4th quarter valued at $25,000. Alpine Global Management LLC increased its stake in Porch Group by 45.5% during the fourth quarter. Alpine Global Management LLC now owns 11,636 shares of the company’s stock valued at $106,000 after acquiring an additional 3,636 shares during the period. Beartown Capital Management LLC bought a new position in Porch Group during the fourth quarter valued at about $4,108,000. Finally, Veradace Capital Management LLC acquired a new stake in Porch Group during the fourth quarter worth $2,193,000. 48.48% of the stock is owned by institutional investors.
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.