Shawn Tabak Sells 24,294 Shares of Porch Group (NASDAQ:PRCH) Stock

by · The Markets Daily

Porch Group, Inc. (NASDAQ:PRCH – Get Free Report) CFO Shawn Tabak sold 24,294 shares of Porch Group stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $9.66, for a total value of $234,680.04. Following the completion of the sale, the chief financial officer owned 118,130 shares in the company, valued at approximately $1,141,135.80. The trade was a 17.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Shawn Tabak also recently made the following trade(s):

  • On Thursday, December 11th, Shawn Tabak sold 10,706 shares of Porch Group stock. The shares were sold at an average price of $9.99, for a total value of $106,952.94.
  • On Thursday, December 4th, Shawn Tabak sold 22,216 shares of Porch Group stock. The stock was sold at an average price of $9.52, for a total transaction of $211,496.32.

Porch Group Price Performance

Shares of NASDAQ PRCH traded down $0.61 during mid-day trading on Monday, reaching $9.31. The company’s stock had a trading volume of 1,188,261 shares, compared to its average volume of 1,381,899. The stock has a 50-day moving average of $12.28 and a two-hundred day moving average of $13.58. The company has a debt-to-equity ratio of 36.18, a quick ratio of 1.33 and a current ratio of 1.33. The stock has a market capitalization of $1.15 billion, a P/E ratio of 32.10 and a beta of 3.11. Porch Group, Inc. has a 1-year low of $3.72 and a 1-year high of $19.44.

Porch Group (NASDAQ:PRCH – Get Free Report) last released its quarterly earnings data on Wednesday, November 5th. The company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.02). The business had revenue of $118.08 million during the quarter, compared to analyst estimates of $114.42 million. Porch Group had a net margin of 6.91% and a negative return on equity of 51.86%. On average, equities research analysts anticipate that Porch Group, Inc. will post -0.63 EPS for the current fiscal year.

Hedge Funds Weigh In On Porch Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Porch Group by 5.7% in the first quarter. Vanguard Group Inc. now owns 5,823,961 shares of the company’s stock worth $42,457,000 after purchasing an additional 312,370 shares in the last quarter. Deutsche Bank AG boosted its position in Porch Group by 5.6% in the first quarter. Deutsche Bank AG now owns 53,845 shares of the company’s stock valued at $393,000 after buying an additional 2,872 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Porch Group during the first quarter worth approximately $812,000. Invesco Ltd. raised its stake in shares of Porch Group by 72.2% in the first quarter. Invesco Ltd. now owns 2,896,237 shares of the company’s stock valued at $21,114,000 after acquiring an additional 1,213,951 shares during the last quarter. Finally, HighTower Advisors LLC bought a new stake in Porch Group during the 1st quarter worth approximately $983,000. 48.48% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on PRCH shares. Zacks Research upgraded Porch Group from a “strong sell” rating to a “hold” rating in a report on Thursday, December 4th. B. Riley reiterated a “buy” rating on shares of Porch Group in a research report on Thursday, November 6th. Benchmark restated a “buy” rating on shares of Porch Group in a research report on Tuesday, November 25th. Oppenheimer set a $20.00 price objective on Porch Group in a research report on Thursday, November 6th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $20.00 target price on shares of Porch Group in a research report on Tuesday, September 2nd. Seven equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $17.00.

Check Out Our Latest Analysis on Porch Group

Porch Group Company Profile

(Get Free Report)

Porch Group, Inc, together with its subsidiaries, operates a vertical software and insurance platform in the United States. The company operates in two segments, Vertical Software and Insurance. The Vertical Software segment provides software and services to inspection, mortgage, and title companies on a subscription and transactional basis, as well as move and post-move services.

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