Porch Group (NASDAQ:PRCH) Shares Gap Down – Time to Sell?

Porch Group, Inc. (NASDAQ:PRCH)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $14.85, but opened at $14.19. Porch Group shares last traded at $13.9180, with a volume of 262,665 shares.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on PRCH shares. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $16.25 price objective (up from $13.00) on shares of Porch Group in a report on Monday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Porch Group in a report on Friday, May 22nd. Stephens began coverage on Porch Group in a research report on Monday, May 4th. They issued an “overweight” rating and a $12.00 target price for the company. Finally, Benchmark lifted their price target on Porch Group from $21.00 to $22.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Six analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Porch Group has an average rating of “Moderate Buy” and a consensus target price of $18.54.

Porch Group Price Performance

The company’s 50 day moving average price is $11.70 and its 200-day moving average price is $9.34. The stock has a market cap of $1.76 billion, a P/E ratio of -80.88 and a beta of 3.13. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 14.87.

Porch Group (NASDAQ:PRCH) last issued its quarterly earnings results on Tuesday, April 28th. The company reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.06. The company had revenue of $109.44 million for the quarter, compared to analyst estimates of $94.72 million. Porch Group had a negative net margin of 3.41% and a negative return on equity of 115.59%. As a group, sell-side analysts expect that Porch Group, Inc. will post -0.04 earnings per share for the current year.

Insider Buying and Selling at Porch Group

In other news, CFO Shawn Tabak sold 25,000 shares of the firm’s stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $16.13, for a total transaction of $403,250.00. Following the completion of the transaction, the chief financial officer directly owned 240,495 shares in the company, valued at $3,879,184.35. This trade represents a 9.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Matthew Neagle sold 62,344 shares of Porch Group stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $9.78, for a total value of $609,724.32. Following the completion of the transaction, the chief operating officer directly owned 1,990,705 shares in the company, valued at approximately $19,469,094.90. This represents a 3.04% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have sold 1,966,208 shares of company stock worth $18,642,140. Insiders own 27.78% of the company’s stock.

Institutional Trading of Porch Group

Several institutional investors have recently added to or reduced their stakes in the stock. Osbon Capital Management LLC acquired a new position in shares of Porch Group in the 4th quarter worth approximately $25,000. Aster Capital Management DIFC Ltd boosted its stake in shares of Porch Group by 97.4% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 3,002 shares of the company’s stock valued at $27,000 after purchasing an additional 1,481 shares during the last quarter. Larson Financial Group LLC increased its position in shares of Porch Group by 444.8% during the third quarter. Larson Financial Group LLC now owns 1,836 shares of the company’s stock worth $31,000 after buying an additional 1,499 shares during the period. Kemnay Advisory Services Inc. acquired a new stake in shares of Porch Group during the fourth quarter worth $38,000. Finally, PNC Financial Services Group Inc. raised its stake in Porch Group by 697.8% during the first quarter. PNC Financial Services Group Inc. now owns 9,390 shares of the company’s stock worth $67,000 after buying an additional 8,213 shares during the last quarter. 48.48% of the stock is currently owned by institutional investors.

Porch Group Company Profile

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.