Matthew Neagle Sells 83,599 Shares of Porch Group (NASDAQ:PRCH) Stock

Porch Group, Inc. (NASDAQ:PRCH) COO Matthew Neagle sold 83,599 shares of the company’s stock in a transaction on Tuesday, April 14th. The shares were sold at an average price of $6.84, for a total value of $571,817.16. Following the completion of the sale, the chief operating officer owned 2,607,657 shares in the company, valued at $17,836,373.88. This represents a 3.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, 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 Thursday, April 9th, Matthew Neagle sold 62,827 shares of Porch Group stock. The shares were 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 shares were sold at an average price of $7.19, for a total value of $207,251.75.
• On Thursday, April 2nd, Matthew Neagle sold 8,446 shares of Porch Group stock. The shares were sold at an average price of $6.98, for a total value of $58,953.08.

Porch Group Stock Up 6.4%

Shares of NASDAQ:PRCH opened at $8.20 on Friday. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 17.20. Porch Group, Inc. has a 52-week low of $4.64 and a 52-week high of $19.44. The stock’s fifty day simple moving average is $7.63 and its 200-day simple moving average is $9.83. The company has a market capitalization of $1.02 billion, a P/E ratio of -164.00 and a beta of 3.09.

Porch Group (NASDAQ:PRCH) last released its earnings results on Wednesday, February 11th. The company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.05. Porch Group had a negative return on equity of 51.86% and a negative net margin of 0.72%.The firm had revenue of $112.25 million for the quarter, compared to the consensus estimate of $109.13 million. As a group, equities research analysts forecast that Porch Group, Inc. will post -0.63 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on PRCH. Keefe, Bruyette & Woods upgraded Porch Group from a “market perform” rating to an “outperform” rating and reduced their target price for the stock from $13.00 to $10.50 in a research report on Wednesday, February 11th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Porch Group in a research report on Monday, December 29th. Zacks Research upgraded Porch Group from a “strong sell” rating to a “hold” rating in a research report on Friday, March 6th. Finally, Benchmark reiterated a “buy” rating on shares of Porch Group in a research report on Friday, January 16th. Seven analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $17.21.

Hedge Funds Weigh In On Porch Group

A number of large investors have recently modified their holdings of PRCH. AQR Capital Management LLC raised its holdings in shares of Porch Group by 134.7% in the 1st quarter. AQR Capital Management LLC now owns 226,795 shares of the company’s stock worth $1,653,000 after purchasing an additional 130,166 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Porch Group by 4.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 48,275 shares of the company’s stock worth $352,000 after purchasing an additional 2,002 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of Porch Group by 2.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,161,064 shares of the company’s stock worth $8,464,000 after purchasing an additional 26,119 shares during the period. Creative Planning purchased a new position in shares of Porch Group in the 2nd quarter worth about $136,000. Finally, Legal & General Group Plc raised its holdings in shares of Porch Group by 1,203.8% in the 2nd quarter. Legal & General Group Plc now owns 108,759 shares of the company’s stock worth $1,282,000 after purchasing an additional 100,417 shares during the period. 48.48% of the stock is currently owned by hedge funds and other institutional investors.

About Porch Group

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.