Porch Group (NASDAQ:PRCH) COO Sells $669,598.00 in Stock

Porch Group, Inc. (NASDAQ:PRCH) COO Matthew Neagle sold 63,650 shares of the firm’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $10.52, for a total transaction of $669,598.00. Following the sale, the chief operating officer owned 2,113,032 shares in the company, valued at approximately $22,229,096.64. The trade was a 2.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 Friday, May 8th, Matthew Neagle sold 60,240 shares of Porch Group stock. The stock was 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 stock was 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 stock was 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 stock was 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 stock was 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.

Porch Group Stock Up 1.9%

NASDAQ:PRCH traded up $0.19 on Thursday, hitting $10.43. 1,180,007 shares of the company’s stock were exchanged, compared to its average volume of 1,725,102. The firm has a 50-day moving average price of $8.09 and a 200-day moving average price of $9.03. Porch Group, Inc. has a 52 week low of $6.36 and a 52 week high of $19.44. The company has a debt-to-equity ratio of 14.87, a current ratio of 1.28 and a quick ratio of 1.28. The company has a market cap of $1.33 billion, a P/E ratio of -61.35 and a beta of 3.24.

Porch Group (NASDAQ:PRCH) last released its earnings results on Tuesday, April 28th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $109.44 million for the quarter, compared to the consensus estimate of $94.72 million. As a group, analysts expect that Porch Group, Inc. will post -0.04 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on PRCH shares. Benchmark upped their target price on shares of Porch Group from $21.00 to $22.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Zacks Research raised Porch Group from a “strong sell” rating to a “hold” rating in a research report on Friday, March 6th. 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, Keefe, Bruyette & Woods upgraded Porch Group from a “market perform” rating to an “outperform” rating and reduced their target price for the stock from $13.00 to $10.50 in a research note on Wednesday, February 11th. Seven analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Porch Group currently has a consensus rating of “Moderate Buy” and an average target price of $17.21.

Institutional Trading of Porch Group

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

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.