Porch Group (NASDAQ:PRCH) COO Sells $464,156.86 in Stock

Porch Group, Inc. (NASDAQ:PRCH) COO Matthew Neagle sold 58,978 shares of the stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $7.87, for a total value of $464,156.86. Following the transaction, the chief operating officer directly owned 2,548,679 shares of the company’s stock, valued at $20,058,103.73. This trade represents a 2.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 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 Tuesday, April 21st, Matthew Neagle sold 62,801 shares of Porch Group stock. The shares were sold at an average price of $8.12, for a total value of $509,944.12.
• On Tuesday, April 14th, Matthew Neagle sold 83,599 shares of Porch Group stock. The shares were sold at an average price of $6.84, for a total value of $571,817.16.
• 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 Performance

Shares of NASDAQ PRCH opened at $7.69 on Friday. The stock has a 50 day moving average price of $7.64 and a 200 day moving average price of $9.58. Porch Group, Inc. has a 52 week low of $5.06 and a 52 week high of $19.44. The company has a debt-to-equity ratio of 17.20, a quick ratio of 1.30 and a current ratio of 1.30. The stock has a market capitalization of $957.10 million, a PE ratio of -153.80 and a beta of 3.09.

Porch Group (NASDAQ:PRCH) last issued its quarterly earnings results on Wednesday, February 11th. The company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.08) by $0.05. The firm had revenue of $112.25 million during the quarter, compared to analysts’ expectations of $109.13 million. Porch Group had a negative return on equity of 51.86% and a negative net margin of 0.72%. Analysts predict that Porch Group, Inc. will post 0.02 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on PRCH shares. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Porch Group in a research report on Monday, December 29th. Keefe, Bruyette & Woods raised Porch Group from a “market perform” rating to an “outperform” rating and cut their price objective for the company from $13.00 to $10.50 in a research report on Wednesday, February 11th. Benchmark reaffirmed a “buy” rating on shares of Porch Group in a research report on Friday, January 16th. Finally, Zacks Research raised Porch Group from a “strong sell” rating to a “hold” rating in a research report on Friday, March 6th. Seven research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Porch Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.21.

Porch Group News Roundup

Here are the key news stories impacting Porch Group this week:

• Positive Sentiment: Analysts maintain bullish tilt — Street consensus is a “Moderate Buy,” which supports demand and gives the stock fundamental cover against short-term weakness. Analyst Consensus
• Positive Sentiment: Institutional ownership has risen: recent filings cited in analyst coverage show firms like Vanguard and JPMorgan increasing stakes, which can provide a stabilizing base for the stock. MarketBeat PRCH
• Neutral Sentiment: Market attention and trading activity have picked up — coverage notes increased interest and volatility in the technology/home-services sector that includes Porch; this can amplify moves in either direction but does not by itself change fundamentals. KalkineMedia
• Negative Sentiment: Significant insider selling reported — CEO Matt Ehrlichman sold sizeable tranches (including ~113,862 shares and a separate ~121,242-share sale), the COO and CFO also sold shares in recent filings. While company disclosures say many sales were to cover tax withholding on vested awards, the volume of insider sales can be perceived negatively and is likely a material factor driving today’s decline. AmericanBankingNews: Insider Selling InsiderTrades Alert

Institutional Trading of Porch Group

Hedge funds have recently added to or reduced their stakes in the company. Osbon Capital Management LLC acquired a new stake in Porch Group during the 4th quarter worth approximately $25,000. Aster Capital Management DIFC Ltd lifted its holdings in Porch Group by 956.3% during the 3rd quarter. Aster Capital Management DIFC Ltd now owns 1,521 shares of the company’s stock worth $26,000 after purchasing an additional 1,377 shares during the last quarter. Larson Financial Group LLC lifted its holdings in Porch Group by 444.8% during the 3rd quarter. Larson Financial Group LLC now owns 1,836 shares of the company’s stock worth $31,000 after purchasing an additional 1,499 shares during the last quarter. Kemnay Advisory Services Inc. acquired a new stake in Porch Group during the 4th quarter worth approximately $38,000. Finally, RiverPark Advisors LLC acquired a new stake in Porch Group during the 3rd quarter worth approximately $39,000. 48.48% of the stock is owned by institutional investors and hedge funds.

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.