Porch Group (NASDAQ:PRCH) COO Sells 40,625 Shares of Stock

Porch Group, Inc. (NASDAQ:PRCH) COO Matthew Neagle sold 40,625 shares of the firm’s stock in a transaction that occurred on Friday, October 16th. The shares were sold at an average price of $17.56, for a total value of $713,375.00. Following the transaction, the chief operating officer owned 1,824,256 shares of the company’s stock, valued at $32,033,935.36. This represents a 2.18% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Tuesday, October 6th, Matthew Neagle sold 27,881 shares of Porch Group stock. The shares were sold at an average price of $17.35, for a total transaction of $483,735.35.
• 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 transaction of $123,161.94.
• On Thursday, October 1st, Matthew Neagle sold 40,625 shares of Porch Group stock. The shares were sold at an average price of $16.69, for a total value 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 Trading Up 3.0%

Porch Group stock traded up $0.53 during midday trading on Tuesday, reaching $18.18. The stock had a trading volume of 2,317,940 shares, compared to its average volume of 1,712,104. Porch Group, Inc. has a 52-week low of $6.36 and a 52-week high of $18.41. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 20.53. The firm has a market cap of $2.40 billion, a price-to-earnings ratio of -151.50 and a beta of 3.18. The company has a fifty day moving average of $16.96 and a 200 day moving average of $13.24.

Porch Group (NASDAQ:PRCH) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.08. Porch Group had a negative return on equity of 68.47% and a negative net margin of 2.67%. The company had revenue of $131.81 million during the quarter, compared to analysts’ expectations of $122.30 million. On average, analysts anticipate that Porch Group, Inc. will post -0.04 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Porch Group

Institutional investors have recently added to or reduced their stakes in the business. Osbon Capital Management LLC acquired a new position in Porch Group in the second quarter valued at $40,000. State of Wyoming purchased a new position in shares of Porch Group during the 2nd quarter worth approximately $64,000. Persistent Asset Partners Ltd acquired a new stake in Porch Group in the second quarter valued at $103,000. Integrated Wealth Concepts LLC acquired a new stake in shares of Porch Group during the 2nd quarter valued at approximately $138,000. Finally, PNC Financial Services Group Inc. boosted its position in shares of Porch Group by 697.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 9,390 shares of the company’s stock worth $67,000 after buying an additional 8,213 shares in the last quarter. Hedge funds and other institutional investors own 48.48% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on PRCH shares. Zacks Research raised shares of Porch Group from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 15th. B. Riley Financial raised their target price on Porch Group from $21.00 to $24.00 and gave the company a “buy” rating in a research report on Wednesday, October 14th. Weiss Ratings upgraded shares of Porch Group from a “sell (d-)” rating to a “sell (d+)” rating in a research report on Thursday, July 30th. Craig Hallum raised their target price on Porch Group from $20.00 to $22.00 and gave the company a “buy” rating in a research report on Wednesday, October 14th. Finally, Benchmark raised 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. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $19.64.

Porch Group Company Profile

Porch Group, Inc is a technology company that provides software and services for the residential home services industry. Its platform is designed to help businesses manage customer relationships, scheduling, communications, payments, marketing and other operational workflows.

The company serves professionals involved in the home-buying and home-maintenance ecosystem, including home inspection companies and other service providers. Its offerings have included specialized software platforms such as Inspection Support Network and Floify, which support inspection management and mortgage-related workflows, respectively.

Founded in 2012 by Matt Ehrlichman, Porch initially operated as a consumer-focused home improvement marketplace before expanding into vertical software and related services.