Porch Group (NASDAQ:PRCH) COO Matthew Neagle Sells 59,983 Shares

Porch Group, Inc. (NASDAQ:PRCH) COO Matthew Neagle sold 59,983 shares of the business’s stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $10.34, for a total value of $620,224.22. Following the transaction, the chief operating officer owned 2,053,049 shares in the company, valued at $21,228,526.66. This represents a 2.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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, May 12th, Matthew Neagle sold 63,650 shares of Porch Group stock. The shares were sold at an average price of $10.52, for a total value of $669,598.00.
• On Friday, May 8th, Matthew Neagle sold 60,240 shares of Porch Group stock. The shares were sold at an average price of $11.12, for a total value of $669,868.80.
• On Tuesday, May 5th, Matthew Neagle sold 60,802 shares of Porch Group stock. The shares were sold at an average price of $10.43, for a total value of $634,164.86.
• 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 value 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 value 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 value 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 value 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 value 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 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.

Porch Group Trading Down 2.0%

PRCH stock opened at $9.77 on Wednesday. Porch Group, Inc. has a 1-year low of $6.36 and a 1-year high of $19.44. The firm has a market cap of $1.25 billion, a P/E ratio of -57.47 and a beta of 3.24. The business’s 50 day moving average is $8.25 and its 200-day moving average is $8.87. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 14.87.

Porch Group (NASDAQ:PRCH) last released its quarterly earnings data on Tuesday, April 28th. The company reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.06. Porch Group had a negative return on equity of 115.59% and a negative net margin of 3.41%.The company had revenue of $109.44 million for the quarter, compared to analyst estimates of $94.72 million. Equities analysts anticipate that Porch Group, Inc. will post -0.04 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on PRCH. Zacks Research upgraded Porch Group from a “strong sell” rating to a “hold” rating in a research note on Friday, March 6th. Keefe, Bruyette & Woods upgraded 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 note on Wednesday, February 11th. Stephens initiated coverage on Porch Group in a research note on Monday, May 4th. They issued an “overweight” rating and a $12.00 price objective on the stock. Finally, Benchmark increased their price target on Porch Group from $21.00 to $22.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Seven investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Porch Group has a consensus rating of “Moderate Buy” and an average target price of $17.21.

Institutional Investors Weigh In On Porch Group

A number of large investors have recently bought and sold shares of PRCH. Osbon Capital Management LLC bought 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 buying an additional 1,377 shares in 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 buying an additional 1,499 shares in the last quarter. Kemnay Advisory Services Inc. acquired a new position in Porch Group during the 4th quarter worth $38,000. Finally, RiverPark Advisors LLC acquired a new stake in shares of Porch Group in the 3rd quarter valued at $39,000. 48.48% of the stock is currently owned by institutional investors.

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.