Porch Group (NASDAQ:PRCH) COO Sells $123,161.94 in Stock

Porch Group, Inc. (NASDAQ:PRCH) COO Matthew Neagle sold 7,318 shares of the company’s stock in a transaction that occurred on Monday, October 5th. The shares were sold at an average price of $16.83, for a total value of $123,161.94. Following the completion of the sale, the chief operating officer directly owned 1,892,762 shares in the company, valued at approximately $31,855,184.46. The trade was a 0.39% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 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, October 6th, Matthew Neagle sold 27,881 shares of Porch Group stock. The stock was sold at an average price of $17.35, for a total value of $483,735.35.
• On Thursday, October 1st, Matthew Neagle sold 40,625 shares of Porch Group stock. The stock was 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 shares were sold at an average price of $16.46, for a total value of $823,000.00.

Porch Group Stock Up 0.2%

PRCH opened at $17.56 on Friday. The firm has a market cap of $2.31 billion, a P/E ratio of -146.33 and a beta of 3.18. The business’s fifty day simple moving average is $16.78 and its 200 day simple moving average is $12.77. Porch Group, Inc. has a 52 week low of $6.36 and a 52 week high of $18.37. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 20.53.

Porch Group (NASDAQ:PRCH) last announced its earnings results on Wednesday, July 29th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of ($0.03) by $0.08. The firm had revenue of $131.81 million during the quarter, compared to the consensus estimate of $122.30 million. Porch Group had a negative net margin of 2.67% and a negative return on equity of 68.47%. As a group, equities research analysts anticipate that Porch Group, Inc. will post -0.09 EPS for the current fiscal year.

Analysts Set New Price Targets

PRCH has been the topic of a number of analyst reports. Benchmark raised their target price on shares of Porch Group from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Weiss Ratings upgraded Porch Group from a “sell (d-)” rating to a “sell (d+)” rating in a report on Thursday, July 30th. Keefe, Bruyette & Woods increased 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. Cantor Fitzgerald boosted their target price 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. Finally, B. Riley Financial increased their price target on shares of Porch Group from $19.00 to $21.00 and gave the stock a “buy” rating in a research note on Monday, August 3rd. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.75.

Hedge Funds Weigh In On Porch Group

Several hedge funds and other institutional investors have recently modified their holdings of PRCH. BlackRock Inc. purchased a new stake in Porch Group during the 2nd quarter worth $128,995,000. Granahan Investment Management LLC lifted its stake in shares of Porch Group by 20.3% during the fourth quarter. Granahan Investment Management LLC now owns 11,590,428 shares of the company’s stock worth $105,821,000 after purchasing an additional 1,953,736 shares in the last quarter. Park West Asset Management LLC purchased a new stake in shares of Porch Group in the second quarter worth about $53,194,000. GC Wealth Management RIA LLC purchased a new stake in shares of Porch Group in the first quarter worth about $29,230,000. Finally, Jupiter Topco LLC acquired a new stake in shares of Porch Group in the second quarter valued at about $21,979,000. 48.48% of the stock is owned by institutional investors and hedge funds.

Porch Group Company Profile

Porch Group, Inc is a vertical software company focused on the home services industry. Through its technology platforms and related services, the company helps home-service businesses manage operations, attract customers, improve workflow efficiency and support transactions connected with buying, selling, maintaining and moving into homes.

Porch Group’s products and services have included customer relationship management, marketing and lead-generation tools, payments, workflow software and other business solutions for contractors and home-service professionals.