Porch Group, Inc. (NASDAQ:PRCH) COO Matthew Neagle Sells 250,000 Shares

Porch Group, Inc. (NASDAQ:PRCH) COO Matthew Neagle sold 250,000 shares of the firm’s stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $10.23, for a total transaction of $2,557,500.00. Following the transaction, the chief operating officer now owns 1,198,080 shares of the company’s stock, valued at $12,256,358.40. This trade represents a 17.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

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

• On Monday, March 24th, Matthew Neagle sold 27,328 shares of Porch Group stock. The stock was sold at an average price of $6.99, for a total transaction of $191,022.72.
• On Monday, March 17th, Matthew Neagle sold 60,000 shares of Porch Group stock. The stock was sold at an average price of $6.24, for a total transaction of $374,400.00.

Porch Group Price Performance

PRCH opened at $10.79 on Thursday. The stock has a market capitalization of $1.30 billion, a PE ratio of -15.41 and a beta of 2.44. The firm’s fifty day moving average price is $6.59 and its 200 day moving average price is $5.22. Porch Group, Inc. has a 12-month low of $1.05 and a 12-month high of $11.35.

Porch Group (NASDAQ:PRCH) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.09. The company had revenue of $104.75 million during the quarter, compared to analyst estimates of $79.44 million. On average, equities research analysts forecast that Porch Group, Inc. will post -0.63 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on PRCH. Loop Capital restated a “buy” rating and issued a $13.00 target price (up from $6.00) on shares of Porch Group in a report on Wednesday. Oppenheimer lifted their price target on shares of Porch Group from $8.00 to $9.00 and gave the company an “outperform” rating in a research report on Wednesday, May 7th. Keefe, Bruyette & Woods boosted their target price on shares of Porch Group from $6.00 to $7.00 and gave the stock a “market perform” rating in a research report on Wednesday, May 7th. Stephens boosted their target price on shares of Porch Group from $8.00 to $10.00 and gave the stock an “overweight” rating in a research report on Friday, March 21st. Finally, Benchmark boosted their target price on shares of Porch Group from $10.00 to $12.00 and gave the stock a “buy” rating in a research report on Wednesday, May 7th. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Porch Group currently has an average rating of “Buy” and a consensus target price of $8.89.

Institutional Trading of Porch Group

A number of institutional investors and hedge funds have recently modified their holdings of PRCH. Barclays PLC raised its holdings in shares of Porch Group by 415.5% during the third quarter. Barclays PLC now owns 134,919 shares of the company’s stock worth $207,000 after purchasing an additional 108,748 shares during the period. GAMMA Investing LLC bought a new position in shares of Porch Group during the fourth quarter worth about $50,000. Nisa Investment Advisors LLC grew its position in shares of Porch Group by 5,776.1% during the fourth quarter. Nisa Investment Advisors LLC now owns 6,640 shares of the company’s stock worth $33,000 after acquiring an additional 6,527 shares during the last quarter. SG Americas Securities LLC grew its position in shares of Porch Group by 73.0% during the fourth quarter. SG Americas Securities LLC now owns 47,187 shares of the company’s stock worth $232,000 after acquiring an additional 19,915 shares during the last quarter. Finally, Rik Saylor Financial Inc. bought a new position in shares of Porch Group during the fourth quarter worth about $49,000. 48.48% of the stock is owned by institutional investors and hedge funds.

About Porch Group

Porch Group, Inc, together with its subsidiaries, operates a vertical software and insurance platform in the United States. The company operates in two segments, Vertical Software and Insurance. The Vertical Software segment provides software and services to inspection, mortgage, and title companies on a subscription and transactional basis, as well as move and post-move services.