Insider Selling: Porch Group (NASDAQ:PRCH) Director Sells 7,418 Shares of Stock

Porch Group, Inc. (NASDAQ:PRCH) Director Amanda Reierson sold 7,418 shares of the business’s stock in a transaction on Tuesday, October 20th. The stock was sold at an average price of $17.98, for a total value of $133,375.64. Following the transaction, the director directly owned 113,261 shares of the company’s stock, valued at $2,036,432.78. The trade was a 6.15% decrease in their ownership of the stock. The transaction was disclosed in a 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.

Porch Group Stock Down 3.5%

NASDAQ PRCH traded down $0.65 during trading hours on Thursday, hitting $17.94. 1,684,561 shares of the company were exchanged, compared to its average volume of 1,716,046. 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 has a market cap of $2.37 billion, a price-to-earnings ratio of -149.50 and a beta of 3.18. The company has a 50 day moving average of $17.06 and a two-hundred day moving average of $13.39. Porch Group, Inc. has a 52-week low of $6.36 and a 52-week high of $18.75.

Porch Group (NASDAQ:PRCH) last announced its quarterly earnings data on Wednesday, July 29th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.08. The business had revenue of $131.81 million during the quarter, compared to analysts’ expectations of $122.30 million. Porch Group had a negative return on equity of 68.47% and a negative net margin of 2.67%. Equities research analysts anticipate that Porch Group, Inc. will post -0.04 earnings per share for the current year.

Hedge Funds Weigh In On Porch Group

A number of hedge funds have recently modified their holdings of PRCH. GAMMA Investing LLC increased its stake in 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 purchasing an additional 778 shares during the period. Hsbc Holdings PLC raised 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 purchasing an additional 1,065 shares during the last quarter. Moody National Bank Trust Division raised its stake 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 purchasing an additional 1,700 shares during the last quarter. State of Alaska Department of Revenue lifted 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 purchasing an additional 1,981 shares during the period. Finally, Osbon Capital Management LLC acquired a new stake in shares of Porch Group during the second quarter worth $40,000. 48.48% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PRCH has been the topic of several analyst reports. Weiss Ratings raised shares of Porch Group from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday. Zacks Research upgraded shares of Porch Group from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 15th. B. Riley Financial increased their price objective on shares of Porch Group from $21.00 to $24.00 and gave the company a “buy” rating in a research report on Wednesday, October 14th. Keefe, Bruyette & Woods increased their price objective on shares of Porch Group from $16.25 to $16.50 and gave the company a “market perform” rating in a research report on Thursday, July 30th. Finally, Texas Capital upgraded shares of Porch Group to a “strong-buy” rating in a report on Tuesday, September 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, Porch Group has an average rating of “Buy” and a consensus target price of $19.64.

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.