Porch Group (NASDAQ:PRCH) COO Matthew Neagle Sells 64,274 Shares of Stock

Porch Group, Inc. (NASDAQ:PRCH) COO Matthew Neagle sold 64,274 shares of the company’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $9.79, for a total transaction of $629,242.46. Following the transaction, the chief operating officer owned 2,297,724 shares of the company’s stock, valued at approximately $22,494,717.96. This trade represents a 2.72% decrease in their position. The transaction 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 Tuesday, April 28th, Matthew Neagle sold 59,901 shares of Porch Group stock. The stock was sold at an average price of $8.11, for a total value of $485,797.11.
• On Friday, April 24th, Matthew Neagle sold 63,979 shares of Porch Group stock. The shares were sold at an average price of $7.68, for a total value of $491,358.72.
• On Tuesday, April 21st, Matthew Neagle sold 62,801 shares of Porch Group stock. The stock was sold at an average price of $8.12, for a total value of $509,944.12.
• On Friday, April 17th, Matthew Neagle sold 58,978 shares of Porch Group stock. The stock was sold at an average price of $7.87, for a total value of $464,156.86.
• On Tuesday, April 14th, Matthew Neagle sold 83,599 shares of Porch Group stock. The shares were sold at an average price of $6.84, for a total value of $571,817.16.
• On Thursday, April 9th, Matthew Neagle sold 62,827 shares of Porch Group stock. The stock was sold at an average price of $7.15, for a total transaction of $449,213.05.
• On Tuesday, April 7th, Matthew Neagle sold 28,825 shares of Porch Group stock. The stock was sold at an average price of $7.19, for a total transaction of $207,251.75.
• On Thursday, April 2nd, Matthew Neagle sold 8,446 shares of Porch Group stock. The shares were sold at an average price of $6.98, for a total transaction of $58,953.08.

Porch Group Stock Performance

NASDAQ:PRCH opened at $11.23 on Wednesday. The company has a market cap of $1.40 billion, a P/E ratio of -66.05 and a beta of 3.24. Porch Group, Inc. has a twelve month low of $6.02 and a twelve month high of $19.44. The company’s 50-day moving average price is $7.74 and its 200-day moving average price is $9.23. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 14.87.

Porch Group (NASDAQ:PRCH) last released its quarterly earnings data on Tuesday, April 28th. The company reported ($0.04) EPS for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.06. The company had revenue of $109.44 million during the quarter, compared to the consensus estimate of $94.72 million. Porch Group had a negative net margin of 3.41% and a negative return on equity of 115.59%. On average, sell-side analysts forecast that Porch Group, Inc. will post -0.04 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Benchmark raised their target price on Porch Group from $21.00 to $22.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Stephens initiated coverage on shares of Porch Group in a research report on Monday. They set an “overweight” rating and a $12.00 price target on the stock. Keefe, Bruyette & Woods upgraded shares of Porch Group from a “market perform” rating to an “outperform” rating and cut their price objective for the stock from $13.00 to $10.50 in a research report on Wednesday, February 11th. Finally, Zacks Research raised shares of Porch Group from a “strong sell” rating to a “hold” rating in a research note on Friday, March 6th. Eight analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $16.69.

Hedge Funds Weigh In On Porch Group

Large investors have recently modified their holdings of the business. AQR Capital Management LLC grew its holdings in shares of Porch Group by 134.7% during the 1st quarter. AQR Capital Management LLC now owns 226,795 shares of the company’s stock worth $1,653,000 after purchasing an additional 130,166 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Porch Group by 4.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 48,275 shares of the company’s stock valued at $352,000 after buying an additional 2,002 shares during the period. Goldman Sachs Group Inc. raised its holdings in Porch Group by 2.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,161,064 shares of the company’s stock valued at $8,464,000 after buying an additional 26,119 shares during the period. Creative Planning acquired a new position in Porch Group in the second quarter valued at about $136,000. Finally, Legal & General Group Plc lifted its position in Porch Group by 1,203.8% in the second quarter. Legal & General Group Plc now owns 108,759 shares of the company’s stock valued at $1,282,000 after buying an additional 100,417 shares during the last quarter. Institutional investors and hedge funds own 48.48% of the company’s stock.

About Porch Group

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.