Insider Selling: Porch Group (NASDAQ:PRCH) COO Sells $483,735.35 in Stock

Porch Group, Inc. (NASDAQ:PRCH) COO Matthew Neagle sold 27,881 shares of the firm’s stock in a transaction dated Tuesday, October 6th. The stock was sold at an average price of $17.35, for a total value of $483,735.35. Following the completion of the transaction, the chief operating officer owned 1,864,881 shares of the company’s stock, valued at approximately $32,355,685.35. The trade was a 1.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Matthew Neagle also recently made the following trade(s):

• On Monday, October 5th, Matthew Neagle sold 7,318 shares of Porch Group stock. The shares were sold at an average price of $16.83, for a total value of $123,161.94.
• On Thursday, October 1st, Matthew Neagle sold 40,625 shares of Porch Group stock. The stock was sold at an average price of $16.69, for a total transaction of $678,031.25.
• On Monday, September 14th, Matthew Neagle sold 50,000 shares of Porch Group stock. The stock was sold at an average price of $16.46, for a total transaction of $823,000.00.

Porch Group Stock Up 0.2%

PRCH stock opened at $17.56 on Friday. The company has a market capitalization of $2.31 billion, a P/E ratio of -146.33 and a beta of 3.18. Porch Group, Inc. has a 12 month low of $6.36 and a 12 month high of $18.37. The firm’s fifty day simple moving average is $16.78 and its 200-day simple moving average is $12.77. The company has a debt-to-equity ratio of 20.53, a current ratio of 1.45 and a quick ratio of 1.45.

Porch Group (NASDAQ:PRCH) last issued its earnings results on Wednesday, July 29th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.03) by $0.08. The firm had revenue of $131.81 million during the quarter, compared to analysts’ expectations of $122.30 million. Porch Group had a negative net margin of 2.67% and a negative return on equity of 68.47%. As a group, equities research analysts forecast that Porch Group, Inc. will post -0.09 earnings per share for the current year.

Analyst Ratings Changes

PRCH has been the topic of a number of recent research reports. Benchmark upped their target price on Porch Group from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Cantor Fitzgerald lifted their price target on Porch Group from $18.00 to $20.00 and gave the company an “overweight” rating in a research report on Friday, September 25th. B. Riley Financial boosted their price target on Porch Group from $19.00 to $21.00 and gave the company a “buy” rating in a report on Monday, August 3rd. Weiss Ratings upgraded Porch Group from a “sell (d-)” rating to a “sell (d+)” rating in a research report on Thursday, July 30th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Porch Group from $16.25 to $16.50 and gave the stock a “market perform” rating in a research note on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Porch Group presently has a consensus rating of “Moderate Buy” and an average price target of $18.75.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Osbon Capital Management LLC purchased a new position in shares of Porch Group during the 4th quarter valued at approximately $25,000. State of Wyoming purchased a new stake in Porch Group in the 2nd quarter worth $64,000. Persistent Asset Partners Ltd acquired a new position in Porch Group during the second quarter worth $103,000. Integrated Wealth Concepts LLC acquired a new position in Porch Group during the second quarter worth $138,000. Finally, PNC Financial Services Group Inc. lifted its holdings in Porch Group by 697.8% during the first quarter. PNC Financial Services Group Inc. now owns 9,390 shares of the company’s stock valued at $67,000 after purchasing an additional 8,213 shares in the last quarter. 48.48% of the stock is owned by institutional investors and hedge funds.

Porch Group Company Profile

Porch Group, Inc is a vertical software company focused on the home services industry. Through its technology platforms and related services, the company helps home-service businesses manage operations, attract customers, improve workflow efficiency and support transactions connected with buying, selling, maintaining and moving into homes.

Porch Group’s products and services have included customer relationship management, marketing and lead-generation tools, payments, workflow software and other business solutions for contractors and home-service professionals.