Porch Group (NASDAQ:PRCH) CFO Sells $55,298.10 in Stock

Porch Group, Inc. (NASDAQ:PRCH) CFO Shawn Tabak sold 7,734 shares of Porch Group stock in a transaction that occurred on Thursday, April 9th. The shares were sold at an average price of $7.15, for a total transaction of $55,298.10. Following the completion of the transaction, the chief financial officer owned 416,353 shares of the company’s stock, valued at $2,976,923.95. This represents a 1.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available 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 7th, Shawn Tabak sold 9,344 shares of Porch Group stock. The shares were sold at an average price of $7.19, for a total transaction of $67,183.36.

Porch Group Price Performance

Porch Group stock opened at $6.76 on Monday. Porch Group, Inc. has a 1-year low of $4.64 and a 1-year high of $19.44. The firm has a market capitalization of $841.35 million, a price-to-earnings ratio of -135.20 and a beta of 3.09. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 17.20. The firm has a 50 day simple moving average of $7.59 and a 200 day simple moving average of $10.07.

Porch Group (NASDAQ:PRCH) last released its quarterly earnings data on Wednesday, February 11th. The company reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.05. The business had revenue of $112.25 million during the quarter, compared to analyst estimates of $109.13 million. Porch Group had a negative net margin of 0.72% and a negative return on equity of 51.86%. On average, analysts predict that Porch Group, Inc. will post -0.63 earnings per share for the current year.

Institutional Trading of Porch Group

A number of hedge funds have recently made changes to their positions in PRCH. Osbon Capital Management LLC bought a new stake in shares of Porch Group during the 4th quarter worth $25,000. Aster Capital Management DIFC Ltd lifted its holdings in shares of Porch Group by 956.3% during the 3rd quarter. Aster Capital Management DIFC Ltd now owns 1,521 shares of the company’s stock worth $26,000 after acquiring an additional 1,377 shares during the last quarter. Larson Financial Group LLC lifted its holdings in shares of Porch Group by 444.8% during the 3rd quarter. Larson Financial Group LLC now owns 1,836 shares of the company’s stock worth $31,000 after acquiring an additional 1,499 shares during the last quarter. Kemnay Advisory Services Inc. bought a new stake in shares of Porch Group during the 4th quarter worth $38,000. Finally, RiverPark Advisors LLC bought a new stake in shares of Porch Group during the 3rd quarter worth $39,000. 48.48% of the stock is owned by institutional investors.

Porch Group News Roundup

Here are the key news stories impacting Porch Group this week:

• Positive Sentiment: Recent quarterly results still show positive momentum: Porch posted an EPS beat and revenue above estimates in its Feb quarter, which supports the company’s recovery narrative and underpins analyst bullishness. MarketBeat PRCH
• Neutral Sentiment: Analyst coverage remains mixed but tilted positive — MarketBeat shows a consensus “Moderate Buy” and a multi-analyst price-target gap (consensus ~ $17.21), which can support upside if execution continues. Analyst Coverage
• Neutral Sentiment: The report lists short-interest as zero with days-to-cover 0.0 — this appears to be a data anomaly and should not be read as meaningful market positioning without confirmation from an exchange/official short-interest file.
• Negative Sentiment: CEO Matt Ehrlichman sold 121,293 shares at an average ~$7.15 (4/9 filing) to cover tax withholding from vested awards; his stake still remains large. CEO Form 4
• Negative Sentiment: COO Matthew Neagle sold 62,827 shares at ~ $7.15 (4/9 filing); the company says these sales were to cover tax withholding on vested equity. COO Form 4
• Negative Sentiment: CFO Shawn Tabak reported multiple small sales (7,734 shares on 4/9 and 9,344 shares on 4/7) at roughly $7.15–$7.19 to cover tax withholding; these are routine but add selling pressure. CFO Form 4

Analysts Set New Price Targets

A number of research firms have recently commented on PRCH. Keefe, Bruyette & Woods upgraded shares of Porch Group from a “market perform” rating to an “outperform” rating and reduced their price target for the company from $13.00 to $10.50 in a research report on Wednesday, February 11th. Benchmark restated a “buy” rating on shares of Porch Group in a research report on Friday, January 16th. Weiss Ratings restated a “sell (d+)” rating on shares of Porch Group in a research report on Monday, December 29th. Finally, Zacks Research upgraded shares of Porch Group from a “strong sell” rating to a “hold” rating in a research report on Friday, March 6th. Seven investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Porch Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.21.

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.