Porch Group (NASDAQ:PRCH) COO Matthew Neagle Sells 56,250 Shares of Company Stock

Porch Group, Inc. (NASDAQ:PRCH) COO Matthew Neagle sold 56,250 shares of the stock in a transaction on 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 completion of the sale, the chief operating officer owned 1,736,756 shares of the company’s stock, valued at $36,263,465.28. The trade was a 3.14% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 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 shares were 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 stock was 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 Stock Up 0.2%

NASDAQ PRCH opened at $21.56 on Thursday. Porch Group, Inc. has a 12 month low of $6.36 and a 12 month high of $21.96. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 13.21. The stock has a market cap of $2.84 billion, a PE ratio of 269.50 and a beta of 3.16. The stock’s 50 day moving average is $17.47 and its 200 day moving average is $12.20.

Porch Group (NASDAQ:PRCH) last announced its quarterly earnings data 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. The business had revenue of $143.86 million during the quarter, compared to analyst estimates of $134.65 million. Porch Group had a net margin of 1.81% and a return on equity of 39.28%. Research analysts predict that Porch Group, Inc. will post -0.01 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on PRCH. Weiss Ratings upgraded shares of Porch Group from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, October 21st. Cantor Fitzgerald increased their price objective on shares of Porch Group from $18.00 to $20.00 and gave the company an “overweight” rating in a report on Friday, September 25th. Keefe, Bruyette & Woods raised their price objective on Porch Group from $16.25 to $16.50 and gave the company a “market perform” rating in a research report on Thursday, July 30th. Wall Street Zen raised Porch Group from a “hold” rating to a “buy” rating in a report on Saturday, October 31st. Finally, Oppenheimer boosted their target price on Porch Group from $20.00 to $25.00 and gave the stock an “outperform” rating in a research report on Thursday, October 29th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Porch Group presently has an average rating of “Buy” and an average target price of $20.79.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Osbon Capital Management LLC purchased a new position in Porch Group in the second quarter worth about $40,000. State of Wyoming bought a new stake in Porch Group during the second quarter worth approximately $64,000. Persistent Asset Partners Ltd purchased a new stake in Porch Group during the second quarter valued at approximately $103,000. Integrated Wealth Concepts LLC purchased a new stake in Porch Group during the second quarter valued at approximately $138,000. Finally, PNC Financial Services Group Inc. lifted its stake in shares of Porch Group by 697.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 9,390 shares of the company’s stock valued at $67,000 after purchasing an additional 8,213 shares during the last quarter. 48.48% of the stock is owned by hedge funds and other institutional investors.

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.