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

Porch Group, Inc. (NASDAQ:PRCH) CFO Shawn Tabak sold 24,294 shares of the business’s stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $9.66, for a total transaction of $234,680.04. Following the completion of the sale, the chief financial officer owned 118,130 shares of the company’s stock, valued at approximately $1,141,135.80. This represents a 17.06% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

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 transaction 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 Stock Down 0.4%

Porch Group stock opened at $9.27 on Wednesday. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 36.18. The firm has a market cap of $1.15 billion, a P/E ratio of 31.97 and a beta of 3.11. The business has a fifty day moving average of $12.15 and a two-hundred day moving average of $13.58. Porch Group, Inc. has a twelve month low of $3.72 and a twelve month high of $19.44.

Porch Group (NASDAQ:PRCH) last released its quarterly earnings results on Wednesday, November 5th. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.02). The company had revenue of $118.08 million during the quarter, compared to the consensus estimate of $114.42 million. Porch Group had a negative return on equity of 51.86% and a net margin of 6.91%. On average, analysts forecast that Porch Group, Inc. will post -0.63 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Porch Group

Large investors have recently made changes to their positions in the stock. Tudor Investment Corp ET AL increased its position in shares of Porch Group by 1,897.9% in the 3rd quarter. Tudor Investment Corp ET AL now owns 255,511 shares of the company’s stock valued at $4,287,000 after acquiring an additional 242,722 shares during the period. Harvest Investment Services LLC raised its stake in shares of Porch Group by 429.2% in the third quarter. Harvest Investment Services LLC now owns 293,530 shares of the company’s stock worth $4,925,000 after purchasing an additional 238,066 shares during the last quarter. Castleark Management LLC acquired a new stake in shares of Porch Group during the third quarter worth about $6,389,000. Caxton Associates LLP purchased a new stake in Porch Group in the third quarter valued at approximately $2,378,000. Finally, Voleon Capital Management LP acquired a new position in Porch Group in the 3rd quarter worth approximately $518,000. 48.48% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PRCH has been the subject of several analyst reports. Benchmark reissued a “buy” rating on shares of Porch Group in a research report on Tuesday, November 25th. Oppenheimer set a $20.00 target price on shares of Porch Group in a research report on Thursday, November 6th. B. Riley restated a “buy” rating on shares of Porch Group in a research note on Thursday, November 6th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $20.00 price target on shares of Porch Group in a research report on Tuesday, September 2nd. Finally, Weiss Ratings downgraded Porch Group from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday. Seven investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $17.00.

About Porch Group

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.