Porch Group (NASDAQ:PRCH) COO Sells $669,598.00 in Stock

Porch Group, Inc. (NASDAQ:PRCH) COO Matthew Neagle sold 63,650 shares of Porch Group stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $10.52, for a total value of $669,598.00. Following the completion of the sale, the chief operating officer directly owned 2,113,032 shares in the company, valued at $22,229,096.64. This trade represents a 2.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible 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 Friday, May 8th, Matthew Neagle sold 60,240 shares of Porch Group stock. The stock was 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 stock was 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 stock was 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 stock was 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 value 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 value 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 value 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 value of $571,817.16.
• On Thursday, April 9th, Matthew Neagle sold 62,827 shares of Porch Group stock. The stock was sold at an average price of $7.15, for a total value of $449,213.05.
• On Tuesday, April 7th, Matthew Neagle sold 28,825 shares of Porch Group stock. The stock was sold at an average price of $7.19, for a total value of $207,251.75.

Porch Group Trading Down 5.7%

Shares of NASDAQ PRCH opened at $9.84 on Friday. The business’s 50 day moving average is $8.17 and its two-hundred day moving average is $9.00. The company has a debt-to-equity ratio of 14.87, a current ratio of 1.28 and a quick ratio of 1.28. Porch Group, Inc. has a 1-year low of $6.36 and a 1-year high of $19.44. The stock has a market capitalization of $1.26 billion, a P/E ratio of -57.88 and a beta of 3.24.

Porch Group (NASDAQ:PRCH) last issued its quarterly earnings data 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. Porch Group had a negative return on equity of 115.59% and a negative net margin of 3.41%.The company had revenue of $109.44 million for the quarter, compared to analysts’ expectations of $94.72 million. As a group, research analysts expect that Porch Group, Inc. will post -0.04 EPS for the current year.

Wall Street Analyst Weigh In

PRCH has been the topic of several analyst reports. Stephens initiated coverage on Porch Group in a research note on Monday, May 4th. They set an “overweight” rating and a $12.00 price objective on the stock. Zacks Research raised Porch Group from a “strong sell” rating to a “hold” rating in a research note on Friday, March 6th. Benchmark boosted their price objective on Porch Group from $21.00 to $22.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Finally, Keefe, Bruyette & Woods raised Porch Group from a “market perform” rating to an “outperform” rating and reduced their price objective for the stock from $13.00 to $10.50 in a research note on Wednesday, February 11th. Seven equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $17.21.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Osbon Capital Management LLC purchased a new position in shares of Porch Group during the fourth quarter valued at approximately $25,000. Aster Capital Management DIFC Ltd boosted its position in shares of Porch Group by 956.3% during the third quarter. Aster Capital Management DIFC Ltd now owns 1,521 shares of the company’s stock valued at $26,000 after buying an additional 1,377 shares during the period. Larson Financial Group LLC boosted its position in shares of Porch Group by 444.8% during the third quarter. Larson Financial Group LLC now owns 1,836 shares of the company’s stock valued at $31,000 after buying an additional 1,499 shares during the period. Kemnay Advisory Services Inc. purchased a new stake in shares of Porch Group in the fourth quarter valued at approximately $38,000. Finally, RiverPark Advisors LLC purchased a new stake in shares of Porch Group in the third quarter valued at approximately $39,000. Hedge funds and other institutional investors own 48.48% of the company’s stock.

Porch Group Company Profile

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.