Insider Selling: Porch Group (NASDAQ:PRCH) Director Sells 33,135 Shares of Stock

Porch Group, Inc. (NASDAQ:PRCH) Director Amanda Reierson sold 33,135 shares of the business’s stock in a transaction on Monday, September 14th. The stock was sold at an average price of $16.46, for a total transaction of $545,402.10. Following the transaction, the director owned 134,180 shares of the company’s stock, valued at approximately $2,208,602.80. The trade was a 19.80% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Porch Group Stock Down 1.0%

Porch Group stock traded down $0.16 during midday trading on Wednesday, reaching $15.89. The company’s stock had a trading volume of 1,483,638 shares, compared to its average volume of 1,717,530. Porch Group, Inc. has a fifty-two week low of $6.36 and a fifty-two week high of $19.44. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 20.53. The company has a market cap of $2.09 billion, a P/E ratio of -132.42 and a beta of 3.17. The business has a 50-day simple moving average of $15.57 and a 200-day simple moving average of $11.66.

Porch Group (NASDAQ:PRCH) last released its quarterly earnings data on Wednesday, July 29th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.03) by $0.08. Porch Group had a negative return on equity of 68.47% and a negative net margin of 2.67%.The business had revenue of $131.81 million during the quarter, compared to analysts’ expectations of $122.30 million. On average, research analysts expect that Porch Group, Inc. will post -0.09 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have commented on PRCH. B. Riley Financial increased their price target on shares of Porch Group from $19.00 to $21.00 and gave the company a “buy” rating in a research note on Monday, August 3rd. Benchmark boosted their price objective on shares of Porch Group from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Keefe, Bruyette & Woods upped their target price on shares of Porch Group from $16.25 to $16.50 and gave the company a “market perform” rating in a report on Thursday, July 30th. Cantor Fitzgerald increased their target price on shares of Porch Group from $13.00 to $18.00 and gave the company an “overweight” rating in a research report on Thursday, July 30th. Finally, Weiss Ratings upgraded shares of Porch Group from a “sell (d-)” rating to a “sell (d+)” rating in a research note on Thursday, July 30th. Five analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Porch Group currently has an average rating of “Moderate Buy” and a consensus target price of $18.42.

Institutional Trading of Porch Group

A number of large investors have recently made changes to their positions in the company. Osbon Capital Management LLC acquired a new position in Porch Group during the fourth quarter worth approximately $25,000. State of Wyoming purchased a new stake in Porch Group in the second quarter valued at approximately $64,000. Persistent Asset Partners Ltd acquired a new stake in shares of Porch Group in the second quarter valued at approximately $103,000. Integrated Wealth Concepts LLC acquired a new stake in shares of Porch Group in the second quarter valued at approximately $138,000. Finally, PNC Financial Services Group Inc. boosted its holdings in shares of Porch Group by 697.8% in the first quarter. PNC Financial Services Group Inc. now owns 9,390 shares of the company’s stock valued at $67,000 after acquiring an additional 8,213 shares during the period. 48.48% of the stock is owned by institutional investors and hedge funds.

Porch Group Company Profile

Porch Group, Inc is a technology company that provides software and services for the residential real estate and home services industries. Its platform is designed to help home service businesses manage operations, attract customers, and support homeowners throughout the process of buying, moving into, maintaining, and improving a home.

The company’s products and services have included software for home inspectors, moving companies, contractors, and other service providers. Porch has also operated businesses connected with homeowners insurance and related services, although its portfolio and operating structure have changed over time as the company has adjusted its strategy.

Founded in 2012, Porch Group is headquartered in Seattle, Washington, and primarily serves the U.S.