Porch Group (NASDAQ:PRCH) COO Sells $562,812.50 in Stock

Porch Group, Inc. (NASDAQ:PRCH) COO Matthew Neagle sold 31,250 shares of the company’s stock in a transaction dated Tuesday, October 20th. The stock was sold at an average price of $18.01, for a total value of $562,812.50. Following the transaction, the chief operating officer directly owned 1,793,006 shares of the company’s stock, valued at approximately $32,292,038.06. This represents a 1.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Friday, October 16th, Matthew Neagle sold 40,625 shares of Porch Group stock. The shares were sold at an average price of $17.56, for a total value of $713,375.00.
• On Tuesday, October 6th, Matthew Neagle sold 27,881 shares of Porch Group stock. The stock was sold at an average price of $17.35, for a total value of $483,735.35.
• On Monday, October 5th, Matthew Neagle sold 7,318 shares of Porch Group stock. The stock was sold at an average price of $16.83, for a total value of $123,161.94.
• On Thursday, October 1st, Matthew Neagle sold 40,625 shares of Porch Group stock. The stock was sold at an average price of $16.69, for a total value of $678,031.25.
• On Monday, September 14th, Matthew Neagle sold 50,000 shares of Porch Group stock. The shares were sold at an average price of $16.46, for a total value of $823,000.00.

Porch Group Stock Performance

Shares of Porch Group stock opened at $17.73 on Friday. The firm has a market capitalization of $2.34 billion, a P/E ratio of -147.75 and a beta of 3.18. Porch Group, Inc. has a 52 week low of $6.36 and a 52 week high of $18.75. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 20.53. The firm’s 50 day moving average is $17.09 and its two-hundred day moving average is $13.50.

Porch Group (NASDAQ:PRCH) last released its quarterly earnings data 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 company had revenue of $131.81 million for the quarter, compared to analysts’ expectations of $122.30 million. Porch Group had a negative net margin of 2.67% and a negative return on equity of 68.47%. Research analysts forecast that Porch Group, Inc. will post -0.04 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Keefe, Bruyette & Woods lifted their price target on shares of Porch Group from $16.25 to $16.50 and gave the stock a “market perform” rating in a research note on Thursday, July 30th. B. Riley Financial upped their price objective on shares of Porch Group from $21.00 to $24.00 and gave the company a “buy” rating in a research note on Wednesday, October 14th. Benchmark upped their price objective on shares of Porch Group from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Zacks Research raised Porch Group from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 15th. Finally, Texas Capital upgraded Porch Group to a “strong-buy” rating in a research report on Tuesday, September 22nd. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $19.64.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of PRCH. GAMMA Investing LLC raised its holdings in shares of Porch Group by 6.6% in the third quarter. GAMMA Investing LLC now owns 12,503 shares of the company’s stock valued at $208,000 after buying an additional 778 shares during the last quarter. Hsbc Holdings PLC boosted its stake in shares of Porch Group by 2.8% during the second quarter. Hsbc Holdings PLC now owns 39,370 shares of the company’s stock worth $587,000 after buying an additional 1,065 shares during the period. Moody National Bank Trust Division grew its holdings in shares of Porch Group by 0.3% during the second quarter. Moody National Bank Trust Division now owns 658,852 shares of the company’s stock worth $9,909,000 after buying an additional 1,700 shares during the last quarter. State of Alaska Department of Revenue grew its holdings in shares of 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 worth $678,000 after buying an additional 1,981 shares during the last quarter. Finally, Osbon Capital Management LLC purchased a new position in shares of Porch Group during the second quarter worth about $40,000. 48.48% of the stock is currently owned by institutional investors and hedge funds.

Porch Group Company Profile

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.