Porch Group (NASDAQ:PRCH) Director Amanda Reierson Sells 7,418 Shares of Company Stock

Porch Group, Inc. (NASDAQ:PRCH) Director Amanda Reierson sold 7,418 shares of the business’s stock in a transaction on Tuesday, October 20th. The stock was sold at an average price of $17.98, for a total value of $133,375.64. Following the transaction, the director directly owned 113,261 shares of the company’s stock, valued at $2,036,432.78. The trade was a 6.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Porch Group Price Performance

Shares of NASDAQ PRCH opened at $17.94 on Friday. The stock’s 50-day moving average is $17.08 and its two-hundred day moving average is $13.47. 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, Inc. has a 1-year low of $6.36 and a 1-year high of $18.75. The company has a market cap of $2.37 billion, a price-to-earnings ratio of -149.50 and a beta of 3.18.

Porch Group (NASDAQ:PRCH) last posted its quarterly earnings results 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. The company had revenue of $131.81 million for the quarter, compared to analyst estimates of $122.30 million. Porch Group had a negative return on equity of 68.47% and a negative net margin of 2.67%. Analysts forecast that Porch Group, Inc. will post -0.04 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Osbon Capital Management LLC purchased a new position in shares of Porch Group in the 2nd quarter valued at $40,000. State of Wyoming acquired a new stake in Porch Group during the 2nd quarter worth $64,000. Persistent Asset Partners Ltd purchased a new stake in Porch Group in the second quarter valued at $103,000. Integrated Wealth Concepts LLC purchased a new stake in Porch Group in the second quarter valued at $138,000. Finally, PNC Financial Services Group Inc. lifted its position in Porch Group by 697.8% in the first quarter. PNC Financial Services Group Inc. now owns 9,390 shares of the company’s stock valued at $67,000 after acquiring an additional 8,213 shares during the last quarter. Institutional investors and hedge funds own 48.48% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on PRCH shares. Cantor Fitzgerald raised their price objective on shares of Porch Group from $18.00 to $20.00 and gave the company an “overweight” rating in a report on Friday, September 25th. Keefe, Bruyette & Woods raised their price target on Porch Group from $16.25 to $16.50 and gave the company a “market perform” rating in a research note on Thursday, July 30th. Zacks Research raised Porch Group from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 15th. B. Riley Financial upped their price objective on Porch Group from $21.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, October 14th. Finally, Texas Capital upgraded Porch Group to a “strong-buy” rating in a report on Tuesday, September 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, Porch Group presently has a consensus rating of “Buy” and a consensus 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.