Porch Group (NASDAQ:PRCH) COO Matthew Neagle Sells 50,000 Shares

Porch Group, Inc. (NASDAQ:PRCH) COO Matthew Neagle sold 50,000 shares of the stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $16.46, for a total transaction of $823,000.00. Following the sale, the chief operating officer directly owned 1,940,705 shares of the company’s stock, valued at approximately $31,944,004.30. The trade was a 2.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Porch Group Stock Down 1.0%

NASDAQ:PRCH opened at $15.89 on Thursday. The company’s 50-day simple moving average is $15.59 and its 200-day simple moving average is $11.72. The company has a debt-to-equity ratio of 20.53, a quick ratio of 1.45 and a current ratio of 1.45. Porch Group, Inc. has a fifty-two week low of $6.36 and a fifty-two week high of $19.44. The stock has a market capitalization of $2.09 billion, a P/E ratio of -132.42 and a beta of 3.17.

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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Thompson Siegel & Walmsley LLC grew its stake in Porch Group by 360.9% during the 4th quarter. Thompson Siegel & Walmsley LLC now owns 644,663 shares of the company’s stock valued at $5,886,000 after purchasing an additional 504,803 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Porch Group by 42.0% in the first quarter. Dimensional Fund Advisors LP now owns 1,540,082 shares of the company’s stock valued at $11,040,000 after purchasing an additional 455,817 shares during the period. Arrowstreet Capital Limited Partnership purchased a new position in shares of Porch Group in the first quarter worth about $1,015,000. Ashford Capital Management Inc. raised its stake in shares of Porch Group by 72.0% in 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, BlackRock Inc. acquired a new stake in shares of Porch Group during the second quarter worth about $128,995,000. Institutional investors and hedge funds own 48.48% of the company’s stock.

Wall Street Analyst Weigh In

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

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.