Insider Selling: Porch Group (NASDAQ:PRCH) COO Sells 62,801 Shares of Stock

Porch Group, Inc. (NASDAQ:PRCH) COO Matthew Neagle sold 62,801 shares of Porch Group stock in a transaction on Tuesday, April 21st. The stock was sold at an average price of $8.12, for a total value of $509,944.12. Following the sale, the chief operating officer directly owned 2,485,878 shares of the company’s stock, valued at $20,185,329.36. This represents a 2.46% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 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, 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 stock was 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 stock was 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 Price Performance

Shares of PRCH stock traded down $0.36 during trading on Thursday, hitting $7.69. The company had a trading volume of 2,422,213 shares, compared to its average volume of 1,552,813. The firm has a market capitalization of $957.11 million, a P/E ratio of -153.80 and a beta of 3.09. Porch Group, Inc. has a one year low of $5.06 and a one year high of $19.44. The company has a debt-to-equity ratio of 17.20, a quick ratio of 1.30 and a current ratio of 1.30. The stock’s 50-day moving average price is $7.66 and its 200 day moving average price is $9.59.

Porch Group (NASDAQ:PRCH) last announced its quarterly earnings data on Wednesday, February 11th. The company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.05. The firm had revenue of $112.25 million during the quarter, compared to analysts’ expectations of $109.13 million. Porch Group had a negative return on equity of 51.86% and a negative net margin of 0.72%. Equities analysts expect that Porch Group, Inc. will post 0.02 EPS for the current fiscal year.

Institutional Investors Weigh In On Porch Group

Several large investors have recently added to or reduced their stakes in PRCH. JPMorgan Chase & Co. increased its stake in shares of Porch Group by 95.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 924,180 shares of the company’s stock valued at $15,508,000 after acquiring an additional 450,560 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Porch Group by 5.6% during the 3rd quarter. Vanguard Group Inc. now owns 7,252,134 shares of the company’s stock valued at $121,691,000 after acquiring an additional 384,451 shares during the period. Harbor Capital Advisors Inc. grew its holdings in Porch Group by 68.9% in the fourth quarter. Harbor Capital Advisors Inc. now owns 388,299 shares of the company’s stock worth $3,545,000 after purchasing an additional 158,368 shares during the period. Algert Global LLC grew its holdings in Porch Group by 2,254.1% in the third quarter. Algert Global LLC now owns 759,664 shares of the company’s stock worth $12,747,000 after purchasing an additional 727,394 shares during the period. Finally, Tudor Investment Corp ET AL grew its holdings in Porch Group by 1,897.9% in the third quarter. Tudor Investment Corp ET AL now owns 255,511 shares of the company’s stock worth $4,287,000 after purchasing an additional 242,722 shares during the period. Institutional investors and hedge funds own 48.48% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on PRCH shares. Weiss Ratings reiterated a “sell (d+)” rating on shares of Porch Group in a research report on Monday, December 29th. Benchmark reaffirmed a “buy” rating on shares of Porch Group in a research note on Friday, January 16th. Zacks Research raised Porch Group from a “strong sell” rating to a “hold” rating in a research note on Friday, March 6th. Finally, Keefe, Bruyette & Woods raised shares of Porch Group from a “market perform” rating to an “outperform” rating and lowered their target price for the stock from $13.00 to $10.50 in a research note on Wednesday, February 11th. Seven research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $17.21.

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.