Porch Group (NASDAQ:PRCH) Director Sells $89,750.00 in Stock

Porch Group, Inc. (NASDAQ:PRCH) Director Amanda Reierson sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, October 16th. The shares were sold at an average price of $17.95, for a total transaction of $89,750.00. Following the transaction, the director owned 120,679 shares in the company, valued at $2,166,188.05. This represents a 3.98% decrease in their position. The transaction was disclosed in a document filed 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.

Porch Group Price Performance

Shares of NASDAQ:PRCH opened at $17.94 on Friday. Porch Group, Inc. has a 12 month low of $6.36 and a 12 month high of $18.75. The stock has a market cap of $2.37 billion, a price-to-earnings ratio of -149.50 and a beta of 3.18. The stock’s 50 day moving average price is $17.08 and its 200 day moving average price is $13.47. 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 released its earnings results on Wednesday, July 29th. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.08. The firm had revenue of $131.81 million during the quarter, compared to the consensus estimate of $122.30 million. Porch Group had a negative return on equity of 68.47% and a negative net margin of 2.67%. Equities research analysts anticipate that Porch Group, Inc. will post -0.04 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

PRCH has been the topic of a number of research reports. Texas Capital raised Porch Group to a “strong-buy” rating in a research note on Tuesday, September 22nd. Benchmark raised their target price on Porch Group from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Cantor Fitzgerald lifted their target price on Porch Group from $18.00 to $20.00 and gave the stock an “overweight” rating in a report on Friday, September 25th. B. Riley Financial lifted their target price on Porch Group from $21.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday, October 14th. Finally, Zacks Research upgraded shares of Porch Group from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 15th. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $19.64.

Institutional Trading of Porch Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in PRCH. State of Alaska Department of Revenue lifted its stake in Porch Group by 5.1% during the third 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. GAMMA Investing LLC boosted its holdings in Porch Group by 6.6% during the third quarter. GAMMA Investing LLC now owns 12,503 shares of the company’s stock worth $208,000 after buying an additional 778 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new position in Porch Group in the second quarter worth approximately $138,000. NewEdge Advisors LLC acquired a new position in Porch Group in the second quarter worth approximately $198,000. Finally, Corient Private Wealth LP grew its position in Porch Group by 550.4% in the second quarter. Corient Private Wealth LP now owns 71,151 shares of the company’s stock worth $1,070,000 after buying an additional 60,212 shares during the last quarter. 48.48% of the stock is owned by institutional investors and hedge funds.

About Porch Group

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.