Porch Group (NASDAQ:PRCH) Stock: Insider Matthew Neagle Sells 56,250 Shares

Porch Group, Inc. (NASDAQ:PRCH) COO Matthew Neagle sold 56,250 shares of the business’s stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $20.88, for a total value of $1,174,500.00. Following the sale, the chief operating officer owned 1,736,756 shares in the company, valued at $36,263,465.28. The trade was a 3.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Tuesday, October 20th, Matthew Neagle sold 31,250 shares of Porch Group stock. The stock was sold at an average price of $18.01, for a total value of $562,812.50.
• On Friday, October 16th, Matthew Neagle sold 40,625 shares of Porch Group stock. The stock was 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 shares were 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 shares were 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 Trading Down 5.8%

Shares of PRCH stock opened at $20.31 on Friday. The company has a debt-to-equity ratio of 13.21, a current ratio of 1.46 and a quick ratio of 1.46. The company has a market cap of $2.68 billion, a price-to-earnings ratio of 253.87 and a beta of 3.16. The stock has a 50 day simple moving average of $17.53 and a 200-day simple moving average of $12.26. Porch Group, Inc. has a 1-year low of $6.36 and a 1-year high of $21.96.

Porch Group (NASDAQ:PRCH) last announced its earnings results on Wednesday, October 28th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.09. Porch Group had a return on equity of 39.28% and a net margin of 1.81%. The firm had revenue of $143.86 million for the quarter, compared to analyst estimates of $134.65 million. On average, equities research analysts expect that Porch Group, Inc. will post -0.01 EPS for the current fiscal year.

Institutional Trading of Porch Group

Several large investors have recently made changes to their positions in PRCH. GAMMA Investing LLC lifted its stake 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 worth $208,000 after buying an additional 778 shares in the last quarter. Hsbc Holdings PLC boosted its position in 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 acquiring an additional 1,065 shares during the last quarter. Moody National Bank Trust Division boosted its position in 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 acquiring an additional 1,700 shares during the last quarter. State of Alaska Department of Revenue grew its stake in Porch Group by 5.1% during the 3rd quarter. State of Alaska Department of Revenue now owns 40,723 shares of the company’s stock valued at $678,000 after acquiring an additional 1,981 shares in the last quarter. Finally, Osbon Capital Management LLC purchased a new stake in Porch Group during the 2nd quarter valued at about $40,000. 48.48% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PRCH has been the topic of several recent analyst reports. Zacks Research raised shares of Porch Group from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 15th. Cantor Fitzgerald boosted their target price on shares of Porch Group from $18.00 to $20.00 and gave the stock an “overweight” rating in a research note on Friday, September 25th. Benchmark upped their price target on shares of Porch Group from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Oppenheimer upped their price target on shares of Porch Group from $20.00 to $25.00 and gave the stock an “outperform” rating in a research report on Thursday, October 29th. Finally, Wall Street Zen raised shares of Porch Group from a “hold” rating to a “buy” rating in a research note on Saturday, October 31st. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Porch Group currently has an average rating of “Buy” and an average target price of $20.79.

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.