Porch Group (NASDAQ:PRCH) COO Sells $1,027,950.00 in Stock

Porch Group, Inc. (NASDAQ:PRCH) COO Matthew Neagle sold 55,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of $18.69, for a total transaction of $1,027,950.00. Following the completion of the transaction, the chief operating officer directly owned 999,784 shares of the company’s stock, valued at approximately $18,685,962.96. This trade represents a 5.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Porch Group Trading Down 3.9%

PRCH opened at $17.44 on Friday. The company has a 50 day moving average of $14.95 and a 200 day moving average of $10.55. The company has a market cap of $2.14 billion, a PE ratio of 34.20 and a beta of 2.84. Porch Group, Inc. has a 12 month low of $1.26 and a 12 month high of $19.22.

Porch Group (NASDAQ:PRCH) last posted its earnings results on Tuesday, August 5th. The company reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.16. Porch Group had a net margin of 12.82% and a negative return on equity of 41.71%. The business had revenue of $119.30 million for the quarter, compared to analysts’ expectations of $98.06 million. Porch Group has set its FY 2025 guidance at EPS. Research analysts forecast that Porch Group, Inc. will post -0.63 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

PRCH has been the topic of several research reports. The Goldman Sachs Group initiated coverage on shares of Porch Group in a research report on Tuesday, September 2nd. They set a “buy” rating and a $21.00 price objective on the stock. Keefe, Bruyette & Woods increased their target price on shares of Porch Group from $7.00 to $16.00 and gave the company a “market perform” rating in a report on Wednesday, August 13th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $20.00 target price on shares of Porch Group in a report on Tuesday, September 2nd. Oppenheimer increased their target price on shares of Porch Group from $14.00 to $17.00 and gave the company an “outperform” rating in a report on Wednesday, August 6th. Finally, Zacks Research lowered shares of Porch Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 21st. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, Porch Group presently has a consensus rating of “Moderate Buy” and an average price target of $15.67.

Hedge Funds Weigh In On Porch Group

A number of hedge funds have recently modified their holdings of the company. Squarepoint Ops LLC increased its position in shares of Porch Group by 121.2% in the second quarter. Squarepoint Ops LLC now owns 124,693 shares of the company’s stock valued at $1,470,000 after acquiring an additional 68,326 shares during the period. State of Wyoming purchased a new position in shares of Porch Group in the second quarter valued at about $111,000. Tower Research Capital LLC TRC increased its position in shares of Porch Group by 235.9% in the second quarter. Tower Research Capital LLC TRC now owns 31,589 shares of the company’s stock valued at $372,000 after acquiring an additional 22,185 shares during the period. HRT Financial LP bought a new stake in shares of Porch Group during the 2nd quarter valued at about $2,729,000. Finally, G2 Investment Partners Management LLC boosted its stake in shares of Porch Group by 28.4% during the 2nd quarter. G2 Investment Partners Management LLC now owns 1,229,183 shares of the company’s stock valued at $14,492,000 after purchasing an additional 271,561 shares in the last quarter. Hedge funds and other institutional investors own 48.48% of the company’s stock.

About Porch Group

Porch Group, Inc, together with its subsidiaries, operates a vertical software and insurance platform in the United States. The company operates in two segments, Vertical Software and Insurance. The Vertical Software segment provides software and services to inspection, mortgage, and title companies on a subscription and transactional basis, as well as move and post-move services.