Porch Group (NASDAQ:PRCH) COO Matthew Neagle Sells 60,802 Shares of Stock

Porch Group, Inc. (NASDAQ:PRCH) COO Matthew Neagle sold 60,802 shares of the firm’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $10.43, for a total transaction of $634,164.86. Following the transaction, the chief operating officer directly owned 2,236,922 shares of the company’s stock, valued at $23,331,096.46. The trade was a 2.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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 Friday, May 1st, Matthew Neagle sold 64,274 shares of Porch Group stock. The shares were sold at an average price of $9.79, for a total transaction of $629,242.46.
• On Tuesday, April 28th, Matthew Neagle sold 59,901 shares of Porch Group stock. The shares were sold at an average price of $8.11, for a total transaction of $485,797.11.
• On Friday, April 24th, Matthew Neagle sold 63,979 shares of Porch Group stock. The shares were sold at an average price of $7.68, for a total transaction of $491,358.72.
• 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 transaction of $509,944.12.
• On Friday, April 17th, Matthew Neagle sold 58,978 shares of Porch Group stock. The shares were sold at an average price of $7.87, for a total transaction of $464,156.86.
• 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 transaction 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 transaction 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 transaction 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 transaction of $58,953.08.

Porch Group Trading Up 1.6%

Shares of PRCH stock opened at $11.28 on Friday. Porch Group, Inc. has a 12-month low of $6.36 and a 12-month high of $19.44. The company has a market capitalization of $1.40 billion, a P/E ratio of -66.35 and a beta of 3.24. The firm has a 50-day moving average price of $7.89 and a 200 day moving average price of $9.18. 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 announced its quarterly earnings results on Tuesday, April 28th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.06. Porch Group had a negative net margin of 3.41% and a negative return on equity of 115.59%. The firm had revenue of $109.44 million during the quarter, compared to the consensus estimate of $94.72 million. Research analysts forecast that Porch Group, Inc. will post -0.04 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Porch Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company increased its position in Porch Group by 3.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 29,657 shares of the company’s stock valued at $350,000 after acquiring an additional 1,090 shares in the last quarter. Alliancebernstein L.P. increased its position in Porch Group by 1.5% in the 3rd quarter. Alliancebernstein L.P. now owns 80,410 shares of the company’s stock valued at $1,349,000 after acquiring an additional 1,200 shares in the last quarter. Prudential Financial Inc. increased its position in Porch Group by 9.4% in the 2nd quarter. Prudential Financial Inc. now owns 14,220 shares of the company’s stock valued at $168,000 after acquiring an additional 1,220 shares in the last quarter. Aster Capital Management DIFC Ltd increased its position in Porch Group by 956.3% in the 3rd quarter. Aster Capital Management DIFC Ltd now owns 1,521 shares of the company’s stock valued at $26,000 after acquiring an additional 1,377 shares in the last quarter. Finally, Larson Financial Group LLC increased its position in Porch Group by 444.8% in the 3rd quarter. Larson Financial Group LLC now owns 1,836 shares of the company’s stock valued at $31,000 after acquiring an additional 1,499 shares in the last quarter. Institutional investors and hedge funds own 48.48% of the company’s stock.

Wall Street Analyst Weigh In

PRCH has been the subject of several analyst reports. Zacks Research raised shares of Porch Group from a “strong sell” rating to a “hold” rating in a report on Friday, March 6th. Benchmark raised their price objective on shares of Porch Group from $21.00 to $22.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Stephens assumed coverage on shares of Porch Group in a research report on Monday. They issued an “overweight” rating and a $12.00 price objective for the company. Finally, Keefe, Bruyette & Woods upgraded shares of Porch Group from a “market perform” rating to an “outperform” rating and lowered their price objective for the company from $13.00 to $10.50 in a research report on Wednesday, February 11th. Eight investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $16.69.

About Porch Group

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.