Porch Group (NASDAQ:PRCH) COO Matthew Neagle Sells 63,650 Shares of Stock

Porch Group, Inc. (NASDAQ:PRCH) COO Matthew Neagle sold 63,650 shares of the business’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $10.52, for a total value of $669,598.00. Following the sale, the chief operating officer owned 2,113,032 shares of the company’s stock, valued at $22,229,096.64. The trade was a 2.92% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at 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 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 stock was 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 stock was 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 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.
• 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 value of $207,251.75.

Porch Group Stock Performance

Shares of PRCH opened at $10.43 on Friday. The business’s fifty day moving average price is $8.14 and its 200 day moving average price is $8.99. Porch Group, Inc. has a 12-month low of $6.36 and a 12-month high of $19.44. The stock has a market capitalization of $1.33 billion, a PE ratio of -61.35 and a beta of 3.24. The company has a debt-to-equity ratio of 14.87, a current ratio of 1.28 and a quick ratio of 1.28.

Porch Group (NASDAQ:PRCH) last posted 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. The company had revenue of $109.44 million for the quarter, compared to analysts’ expectations of $94.72 million. Porch Group had a negative return on equity of 115.59% and a negative net margin of 3.41%. Equities research analysts forecast that Porch Group, Inc. will post -0.04 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on PRCH shares. Keefe, Bruyette & Woods raised Porch Group from a “market perform” rating to an “outperform” rating and lowered their price target for the company from $13.00 to $10.50 in a report on Wednesday, February 11th. Zacks Research raised Porch Group from a “strong sell” rating to a “hold” rating in a report on Friday, March 6th. Stephens initiated coverage on Porch Group in a report on Monday, May 4th. They set an “overweight” rating and a $12.00 price target on the stock. Finally, Benchmark lifted their target price on Porch Group from $21.00 to $22.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Seven research 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. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $17.21.

Hedge Funds Weigh In On Porch Group

A number of institutional investors have recently bought and sold shares of PRCH. Osbon Capital Management LLC purchased a new position in Porch Group in the 4th quarter worth about $25,000. Aster Capital Management DIFC Ltd increased its stake in Porch Group by 956.3% in the 3rd quarter. Aster Capital Management DIFC Ltd now owns 1,521 shares of the company’s stock worth $26,000 after purchasing an additional 1,377 shares in the last quarter. Larson Financial Group LLC increased its stake in Porch Group by 444.8% in the 3rd quarter. Larson Financial Group LLC now owns 1,836 shares of the company’s stock worth $31,000 after purchasing an additional 1,499 shares in the last quarter. Kemnay Advisory Services Inc. purchased a new position in Porch Group in the 4th quarter worth about $38,000. Finally, RiverPark Advisors LLC purchased a new position in Porch Group in the 3rd quarter worth about $39,000. Hedge funds and other institutional investors own 48.48% of the company’s stock.

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.