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

Porch Group, Inc. (NASDAQ:PRCH) COO Matthew Neagle sold 59,983 shares of the business’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $10.34, for a total value of $620,224.22. Following the sale, the chief operating officer owned 2,053,049 shares of the company’s stock, valued at approximately $21,228,526.66. The trade was a 2.84% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through 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 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 transaction 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 transaction 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 transaction 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 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 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 shares were sold at an average price of $7.15, for a total transaction of $449,213.05.

Porch Group Stock Performance

Shares of PRCH stock opened at $9.74 on Thursday. The stock’s 50-day moving average is $8.29 and its two-hundred day moving average is $8.83. The firm has a market cap of $1.24 billion, a price-to-earnings ratio of -57.29 and a beta of 3.24. Porch Group, Inc. has a 1 year low of $6.36 and a 1 year high of $19.44. The company has a debt-to-equity ratio of 14.87, a quick ratio of 1.28 and a current 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 for the quarter, beating the consensus estimate of ($0.10) by $0.06. The business had revenue of $109.44 million during the quarter, compared to the consensus estimate of $94.72 million. Porch Group had a negative return on equity of 115.59% and a negative net margin of 3.41%. Analysts predict that Porch Group, Inc. will post -0.04 earnings per share for the current year.

Institutional Trading of Porch Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of America Corp DE lifted its position in Porch Group by 34.8% during the 1st quarter. Bank of America Corp DE now owns 364,015 shares of the company’s stock worth $2,610,000 after acquiring an additional 94,033 shares during the period. EverSource Wealth Advisors LLC increased its holdings in shares of Porch Group by 3,773.5% in the first quarter. EverSource Wealth Advisors LLC now owns 15,339 shares of the company’s stock valued at $110,000 after purchasing an additional 14,943 shares during the period. California State Teachers Retirement System raised its stake in shares of Porch Group by 41.4% during the first quarter. California State Teachers Retirement System now owns 90,632 shares of the company’s stock worth $650,000 after purchasing an additional 26,528 shares during the last quarter. Ashford Capital Management Inc. raised its stake in shares of Porch Group by 72.0% during the first quarter. Ashford Capital Management Inc. now owns 696,180 shares of the company’s stock worth $4,992,000 after purchasing an additional 291,510 shares during the last quarter. Finally, Quantinno Capital Management LP lifted its holdings in shares of Porch Group by 195.9% during the first quarter. Quantinno Capital Management LP now owns 73,939 shares of the company’s stock worth $530,000 after purchasing an additional 48,949 shares during the period. 48.48% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on PRCH shares. Stephens initiated coverage on Porch Group in a report on Monday, May 4th. They issued an “overweight” rating and a $12.00 price objective for the company. Benchmark lifted 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. Keefe, Bruyette & Woods upgraded shares of Porch Group from a “market perform” rating to an “outperform” rating and reduced their price target for the company from $13.00 to $10.50 in a research report on Wednesday, February 11th. Finally, Zacks Research upgraded shares of Porch Group from a “strong sell” rating to a “hold” rating in a research note on Friday, March 6th. Seven equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Porch Group currently has an average rating of “Moderate Buy” and a consensus 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.