Porch Group (NASDAQ:PRCH) COO Sells $823,000.00 in Stock

Porch Group, Inc. (NASDAQ:PRCH) COO Matthew Neagle sold 50,000 shares of the business’s stock in a transaction on Monday, September 14th. The shares were sold at an average price of $16.46, for a total transaction of $823,000.00. Following the completion of the transaction, the chief operating officer owned 1,940,705 shares in the company, valued at approximately $31,944,004.30. The trade was a 2.51% decrease in their position. The transaction was disclosed in a document filed 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 Stock Performance

Shares of PRCH opened at $15.90 on Friday. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 20.53. The firm’s fifty day simple moving average is $15.63 and its two-hundred day simple moving average is $11.80. Porch Group, Inc. has a 12 month low of $6.36 and a 12 month high of $19.44. The stock has a market capitalization of $2.10 billion, a P/E ratio of -132.50 and a beta of 3.17.

Porch Group (NASDAQ:PRCH) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $131.81 million during the quarter, compared to analyst estimates of $122.30 million. As a group, analysts predict that Porch Group, Inc. will post -0.09 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Osbon Capital Management LLC bought a new stake in Porch Group during the fourth quarter worth $25,000. State of Wyoming bought a new position in Porch Group during the 2nd quarter valued at $64,000. PNC Financial Services Group Inc. boosted its holdings in Porch Group by 697.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 9,390 shares of the company’s stock worth $67,000 after acquiring an additional 8,213 shares during the last quarter. Cetera Investment Advisers purchased a new position in Porch Group during the 1st quarter worth $74,000. Finally, Marble Harbor Investment Counsel LLC bought a new stake in shares of Porch Group in the 4th quarter worth $97,000. Hedge funds and other institutional investors own 48.48% of the company’s stock.

Analysts Set New Price Targets

PRCH has been the topic of several recent research reports. B. Riley Financial increased their price target on Porch Group from $19.00 to $21.00 and gave the stock a “buy” rating in a report on Monday, August 3rd. Keefe, Bruyette & Woods upped their price objective on shares of Porch Group from $16.25 to $16.50 and gave the stock a “market perform” rating in a report on Thursday, July 30th. Benchmark raised their price objective on shares of Porch Group from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Weiss Ratings raised shares of Porch Group from a “sell (d-)” rating to a “sell (d+)” rating in a research note on Thursday, July 30th. Finally, Cantor Fitzgerald lifted their price objective on shares of Porch Group from $13.00 to $18.00 and gave the company an “overweight” rating in a report on Thursday, July 30th. Five research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.42.

About Porch Group

Porch Group, Inc is a technology company that provides software and services for the residential real estate and home services industries. Its platform is designed to help home service businesses manage operations, attract customers, and support homeowners throughout the process of buying, moving into, maintaining, and improving a home.

The company’s products and services have included software for home inspectors, moving companies, contractors, and other service providers. Porch has also operated businesses connected with homeowners insurance and related services, although its portfolio and operating structure have changed over time as the company has adjusted its strategy.

Founded in 2012, Porch Group is headquartered in Seattle, Washington, and primarily serves the U.S.