Porch Group (NASDAQ:PRCH) COO Sells $629,242.46 in Stock

Porch Group, Inc. (NASDAQ:PRCH) COO Matthew Neagle sold 64,274 shares of the business’s stock in a transaction on Friday, May 1st. The stock was sold at an average price of $9.79, for a total transaction of $629,242.46. Following the completion of the sale, the chief operating officer owned 2,297,724 shares of the company’s stock, valued at $22,494,717.96. The trade was a 2.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 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, 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 transaction 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 transaction 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 transaction 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 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 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 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 stock was sold at an average price of $6.98, for a total transaction of $58,953.08.

Porch Group Price Performance

NASDAQ PRCH traded up $0.87 on Tuesday, hitting $11.23. 3,267,035 shares of the company were exchanged, compared to its average volume of 1,726,196. The firm has a 50 day moving average of $7.68 and a two-hundred day moving average of $9.26. The company has a market cap of $1.40 billion, a P/E ratio of -66.05 and a beta of 3.24. 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, Inc. has a 1-year low of $6.02 and a 1-year high of $19.44.

Porch Group (NASDAQ:PRCH) last issued its quarterly earnings results on Tuesday, April 28th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.10) by $0.06. The business had revenue of $109.44 million for the quarter, compared to the consensus estimate of $94.72 million. Porch Group had a negative net margin of 3.41% and a negative return on equity of 115.59%. On average, equities analysts predict that Porch Group, Inc. will post -0.04 EPS for the current year.

Wall Street Analyst Weigh In

PRCH has been the topic of several research reports. Benchmark upped their price target on shares of Porch Group from $21.00 to $22.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Keefe, Bruyette & Woods upgraded shares of Porch Group from a “market perform” rating to an “outperform” rating and reduced their price target for the stock from $13.00 to $10.50 in a research report on Wednesday, February 11th. Zacks Research upgraded shares of Porch Group from a “strong sell” rating to a “hold” rating in a research report on Friday, March 6th. Finally, Stephens began coverage on shares of Porch Group in a research report on Monday. They set an “overweight” rating and a $12.00 target price on the stock. Eight equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $16.69.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in PRCH. Osbon Capital Management LLC acquired a new position in Porch Group during the 4th quarter valued at about $25,000. Aster Capital Management DIFC Ltd lifted its position 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 valued at $26,000 after purchasing an additional 1,377 shares during the period. Larson Financial Group LLC lifted its position in Porch Group by 444.8% during the 3rd quarter. Larson Financial Group LLC now owns 1,836 shares of the company’s stock valued at $31,000 after purchasing an additional 1,499 shares during the period. Kemnay Advisory Services Inc. acquired a new position in Porch Group during the 4th quarter valued at about $38,000. Finally, RiverPark Advisors LLC acquired a new stake in shares of Porch Group in the 3rd quarter valued at approximately $39,000. 48.48% of the stock is currently 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.