Porch Group (NASDAQ:PRCH) Director Sells $545,402.10 in Stock

Porch Group, Inc. (NASDAQ:PRCH) Director Amanda Reierson sold 33,135 shares of the firm’s stock in a transaction on Monday, September 14th. The stock was sold at an average price of $16.46, for a total value of $545,402.10. Following the completion of the sale, the director directly owned 134,180 shares of the company’s stock, valued at $2,208,602.80. The trade was a 19.80% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Porch Group Trading Down 0.5%

Shares of NASDAQ:PRCH opened at $15.90 on Friday. The business’s 50-day moving average is $15.63 and its 200 day moving average is $11.80. Porch Group, Inc. has a 1 year low of $6.36 and a 1 year high of $19.44. The firm has a market capitalization of $2.10 billion, a P/E ratio of -132.50 and a beta of 3.17. The company has a debt-to-equity ratio of 20.53, a current ratio of 1.45 and a quick ratio of 1.45.

Porch Group (NASDAQ:PRCH) last issued its quarterly earnings results 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 business had revenue of $131.81 million during the quarter, compared to the consensus estimate of $122.30 million. On average, research analysts predict that Porch Group, Inc. will post -0.09 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have weighed in on PRCH shares. Keefe, Bruyette & Woods boosted their target price on shares of Porch Group from $16.25 to $16.50 and gave the stock a “market perform” rating in a research report on Thursday, July 30th. Benchmark raised their price target on shares of Porch Group from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Cantor Fitzgerald boosted 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. Weiss Ratings raised Porch Group from a “sell (d-)” rating to a “sell (d+)” rating in a research report on Thursday, July 30th. Finally, B. Riley Financial raised their target price on Porch Group from $19.00 to $21.00 and gave the stock a “buy” rating in a research note on Monday, August 3rd. Five research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Porch Group presently has an average rating of “Moderate Buy” and an average price target of $18.42.

Hedge Funds Weigh In On Porch Group

Hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. purchased a new position in shares of Porch Group during the second quarter worth $128,995,000. GC Wealth Management RIA LLC purchased a new stake in Porch Group in the first quarter valued at $29,230,000. Park West Asset Management LLC purchased a new stake in Porch Group in the second quarter valued at $53,194,000. Granahan Investment Management LLC grew its position in Porch Group by 20.3% during the 4th 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 during the period. Finally, Jupiter Topco LLC acquired a new stake in Porch Group during the 2nd quarter worth about $21,979,000. Institutional investors and hedge funds own 48.48% of the company’s stock.

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.