Insider Selling: Porch Group (NASDAQ:PRCH) COO Sells 56,250 Shares of Stock

Porch Group, Inc. (NASDAQ:PRCH) COO Matthew Neagle sold 56,250 shares of the business’s stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $20.88, for a total transaction of $1,174,500.00. Following the transaction, the chief operating officer owned 1,736,756 shares of the company’s stock, valued at $36,263,465.28. This trade represents a 3.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Matthew Neagle also recently made the following trade(s):

• On Tuesday, October 20th, Matthew Neagle sold 31,250 shares of Porch Group stock. The stock was sold at an average price of $18.01, for a total transaction of $562,812.50.
• On Friday, October 16th, Matthew Neagle sold 40,625 shares of Porch Group stock. The stock was sold at an average price of $17.56, for a total transaction of $713,375.00.
• 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 Monday, October 5th, Matthew Neagle sold 7,318 shares of Porch Group stock. The stock was sold at an average price of $16.83, for a total value of $123,161.94.
• On Thursday, October 1st, Matthew Neagle sold 40,625 shares of Porch Group stock. The shares were 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 Price Performance

Porch Group stock traded up $0.04 during midday trading on Wednesday, hitting $21.56. 1,871,671 shares of the company’s stock were exchanged, compared to its average volume of 1,759,547. Porch Group, Inc. has a 52-week low of $6.36 and a 52-week high of $21.96. The stock has a 50-day moving average price of $17.38 and a two-hundred day moving average price of $12.14. 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 company has a market cap of $2.84 billion, a P/E ratio of 269.50 and a beta of 3.16.

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

Wall Street Analyst Weigh In

Several research firms recently weighed in on PRCH. Wall Street Zen upgraded shares of Porch Group from a “hold” rating to a “buy” rating in a research report on Saturday. Craig Hallum set a $25.00 target price on shares of Porch Group in a research note on Thursday, October 29th. B. Riley Financial lifted their target price on shares of Porch Group from $21.00 to $24.00 and gave the company a “buy” rating in a research report on Wednesday, October 14th. Cantor Fitzgerald boosted their price target on shares of Porch Group from $18.00 to $20.00 and gave the stock an “overweight” rating in a research note on Friday, September 25th. Finally, Zacks Research raised shares of Porch Group from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 15th. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $20.79.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in PRCH. GAMMA Investing LLC lifted its holdings in shares of Porch Group by 6.6% in the 3rd quarter. GAMMA Investing LLC now owns 12,503 shares of the company’s stock worth $208,000 after acquiring an additional 778 shares during the last quarter. Hsbc Holdings PLC grew its holdings in shares of 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 last quarter. Moody National Bank Trust Division grew its holdings in shares of 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 grew its holdings in shares of 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 position in Porch Group in the 2nd quarter worth $40,000. Institutional investors own 48.48% of the company’s stock.

Porch Group Company Profile

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.