Insider Selling: Porch Group (NASDAQ:PRCH) COO Sells 40,625 Shares of Stock

Porch Group, Inc. (NASDAQ:PRCH) COO Matthew Neagle sold 40,625 shares of the firm’s stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $16.69, for a total transaction of $678,031.25. Following the completion of the transaction, the chief operating officer owned 1,900,080 shares in the company, valued at $31,712,335.20. The trade was a 2.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Matthew Neagle also recently made the following trade(s):

• On Monday, September 14th, Matthew Neagle sold 50,000 shares of Porch Group stock. The shares were sold at an average price of $16.46, for a total value of $823,000.00.

Porch Group Stock Performance

NASDAQ PRCH traded up $0.04 during trading on Monday, hitting $17.35. The company’s stock had a trading volume of 885,840 shares, compared to its average volume of 1,713,182. Porch Group, Inc. has a 52 week low of $6.36 and a 52 week high of $18.37. The firm has a market cap of $2.29 billion, a P/E ratio of -144.58 and a beta of 3.18. The firm has a 50 day moving average price of $16.37 and a 200 day moving average price of $12.46. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 20.53.

Porch Group (NASDAQ:PRCH) last announced 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. The business had revenue of $131.81 million for the quarter, compared to the consensus estimate of $122.30 million. Porch Group had a negative net margin of 2.67% and a negative return on equity of 68.47%. Equities research analysts forecast that Porch Group, Inc. will post -0.09 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on PRCH. Benchmark boosted their price target on Porch Group from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Weiss Ratings upgraded Porch Group from a “sell (d-)” rating to a “sell (d+)” rating in a research report on Thursday, July 30th. Cantor Fitzgerald upped their target price on Porch Group from $18.00 to $20.00 and gave the company an “overweight” rating in a research note on Friday, September 25th. B. Riley Financial lifted their price target on shares of Porch Group from $19.00 to $21.00 and gave the stock a “buy” rating in a research note on Monday, August 3rd. Finally, Keefe, Bruyette & Woods boosted their price target 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. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $18.75.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Hsbc Holdings PLC grew its holdings in shares of Porch Group by 2.8% in the 2nd quarter. Hsbc Holdings PLC now owns 39,370 shares of the company’s stock worth $587,000 after purchasing an additional 1,065 shares during the last quarter. Moody National Bank Trust Division lifted its holdings in Porch Group by 0.3% during the 2nd quarter. Moody National Bank Trust Division now owns 658,852 shares of the company’s stock valued at $9,909,000 after purchasing an additional 1,700 shares during the last quarter. Osbon Capital Management LLC bought a new position in Porch Group during the 4th quarter valued at about $25,000. Alpine Global Management LLC boosted its holdings in shares of Porch Group by 45.5% in the 4th quarter. Alpine Global Management LLC now owns 11,636 shares of the company’s stock worth $106,000 after acquiring an additional 3,636 shares in the last quarter. Finally, State of Wyoming bought a new position in Porch Group in the 2nd quarter valued at $64,000. 48.48% of the stock is currently owned by institutional investors and hedge funds.

About Porch Group

Porch Group, Inc is a vertical software company focused on the home services industry. Through its technology platforms and related services, the company helps home-service businesses manage operations, attract customers, improve workflow efficiency and support transactions connected with buying, selling, maintaining and moving into homes.

Porch Group’s products and services have included customer relationship management, marketing and lead-generation tools, payments, workflow software and other business solutions for contractors and home-service professionals.