Porch Group (NASDAQ:PRCH) COO Sells $609,724.32 in Stock

Porch Group, Inc. (NASDAQ:PRCH) COO Matthew Neagle sold 62,344 shares of Porch Group stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $9.78, for a total transaction of $609,724.32. Following the completion of the transaction, the chief operating officer directly owned 1,990,705 shares in the company, valued at $19,469,094.90. This represents a 3.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through 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 Friday, May 15th, Matthew Neagle sold 59,983 shares of Porch Group stock. The shares were sold at an average price of $10.34, for a total value of $620,224.22.
• On Tuesday, May 12th, Matthew Neagle sold 63,650 shares of Porch Group stock. The shares were sold at an average price of $10.52, for a total value of $669,598.00.
• On Friday, May 8th, Matthew Neagle sold 60,240 shares of Porch Group stock. The shares were sold at an average price of $11.12, for a total value of $669,868.80.
• On Tuesday, May 5th, Matthew Neagle sold 60,802 shares of Porch Group stock. The shares were sold at an average price of $10.43, for a total value of $634,164.86.
• On Friday, May 1st, Matthew Neagle sold 64,274 shares of Porch Group stock. The shares were sold at an average price of $9.79, for a total value of $629,242.46.
• On Tuesday, April 28th, Matthew Neagle sold 59,901 shares of Porch Group stock. The shares were 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 stock was sold at an average price of $7.68, for a total transaction 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 transaction 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 transaction of $464,156.86.
• On Tuesday, April 14th, Matthew Neagle sold 83,599 shares of Porch Group stock. The stock was sold at an average price of $6.84, for a total transaction of $571,817.16.

Porch Group Price Performance

NASDAQ:PRCH remained flat at $9.74 during trading hours on Thursday. 1,190,169 shares of the company’s stock traded hands, compared to its average volume of 1,741,063. The stock has a market cap of $1.24 billion, a PE ratio of -57.29 and a beta of 3.24. Porch Group, Inc. has a 12 month low of $6.36 and a 12 month high of $19.44. The company has a debt-to-equity ratio of 14.87, a current ratio of 1.28 and a quick ratio of 1.28. The company’s 50-day moving average is $8.29 and its 200 day moving average is $8.83.

Porch Group (NASDAQ:PRCH) last released its earnings results on Tuesday, April 28th. The company reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.06. The company had revenue of $109.44 million for 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, equities analysts predict that Porch Group, Inc. will post -0.04 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. JPMorgan Chase & Co. increased its holdings in shares of Porch Group by 95.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 924,180 shares of the company’s stock valued at $15,508,000 after purchasing an additional 450,560 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Porch Group by 5.6% during the 3rd quarter. Vanguard Group Inc. now owns 7,252,134 shares of the company’s stock valued at $121,691,000 after purchasing an additional 384,451 shares in the last quarter. Harbor Capital Advisors Inc. increased its holdings in shares of Porch Group by 68.9% during the 4th quarter. Harbor Capital Advisors Inc. now owns 388,299 shares of the company’s stock valued at $3,545,000 after purchasing an additional 158,368 shares in the last quarter. Tudor Investment Corp ET AL boosted its stake in shares of Porch Group by 1,897.9% during the 3rd quarter. Tudor Investment Corp ET AL now owns 255,511 shares of the company’s stock worth $4,287,000 after acquiring an additional 242,722 shares in the last quarter. Finally, Algert Global LLC boosted its stake in shares of Porch Group by 2,254.1% during the 3rd quarter. Algert Global LLC now owns 759,664 shares of the company’s stock worth $12,747,000 after acquiring an additional 727,394 shares in the last quarter. Hedge funds and other institutional investors own 48.48% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on PRCH. 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. Keefe, Bruyette & Woods upgraded Porch Group from a “market perform” rating to an “outperform” rating and dropped their target price for the company from $13.00 to $10.50 in a research report on Wednesday, February 11th. Stephens initiated coverage on Porch Group in a research report on Monday, May 4th. They issued an “overweight” rating and a $12.00 target price on the stock. Finally, Zacks Research upgraded Porch Group from a “strong sell” rating to a “hold” rating in a research report on Friday, March 6th. Seven equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Porch Group presently has an average rating of “Moderate Buy” and an average target price of $17.21.

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.