Insider Selling: Porch Group (NASDAQ:PRCH) Director Sells $210,000.00 in Stock

Porch Group, Inc. (NASDAQ:PRCH) Director Alan Pickerill sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 3rd. The stock was sold at an average price of $21.00, for a total transaction of $210,000.00. Following the completion of the transaction, the director directly owned 193,356 shares of the company’s stock, valued at approximately $4,060,476. This trade represents a 4.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Porch Group Price Performance

NASDAQ PRCH traded down $1.25 during trading hours on Thursday, hitting $20.31. The company had a trading volume of 1,945,882 shares, compared to its average volume of 1,760,421. Porch Group, Inc. has a 52 week low of $6.36 and a 52 week high of $21.96. The firm has a 50 day simple moving average of $17.47 and a 200 day simple moving average of $12.20. The company has a debt-to-equity ratio of 13.21, a quick ratio of 1.46 and a current ratio of 1.46. The firm has a market capitalization of $2.68 billion, a price-to-earnings ratio of 253.87 and a beta of 3.16.

Porch Group (NASDAQ:PRCH) last posted its earnings results on Wednesday, October 28th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.09. Porch Group had a net margin of 1.81% and a return on equity of 39.28%. The business had revenue of $143.86 million for the quarter, compared to analysts’ expectations of $134.65 million. Equities research analysts expect that Porch Group, Inc. will post -0.01 earnings per share for the current year.

Hedge Funds Weigh In On Porch Group

Several hedge funds and other institutional investors have recently modified their holdings of the company. GAMMA Investing LLC grew its stake in shares of Porch Group by 6.6% in the third quarter. GAMMA Investing LLC now owns 12,503 shares of the company’s stock worth $208,000 after purchasing an additional 778 shares during the last quarter. Hsbc Holdings PLC increased its holdings in Porch Group by 2.8% during the 2nd quarter. Hsbc Holdings PLC now owns 39,370 shares of the company’s stock valued at $587,000 after purchasing an additional 1,065 shares during the period. Moody National Bank Trust Division raised its position in Porch Group by 0.3% during the 2nd quarter. Moody National Bank Trust Division now owns 658,852 shares of the company’s stock valued at $9,909,000 after purchasing an additional 1,700 shares during the last quarter. State of Alaska Department of Revenue raised its position in Porch Group by 5.1% during the 3rd quarter. State of Alaska Department of Revenue now owns 40,723 shares of the company’s stock valued at $678,000 after purchasing an additional 1,981 shares during the last quarter. Finally, Osbon Capital Management LLC purchased a new stake in Porch Group in the 2nd quarter worth approximately $40,000. 48.48% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on PRCH. Craig Hallum set a $25.00 target price on Porch Group in a research note on Thursday, October 29th. Texas Capital upgraded Porch Group to a “strong-buy” rating in a report on Tuesday, September 22nd. Benchmark upped their price objective on Porch Group from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Keefe, Bruyette & Woods increased their price objective on Porch Group from $16.25 to $16.50 and gave the company a “market perform” rating in a research report on Thursday, July 30th. Finally, Cantor Fitzgerald raised their price objective on Porch Group from $18.00 to $20.00 and gave the company an “overweight” rating in a report on Friday, September 25th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $20.79.

About Porch Group

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.