Porch Group (NASDAQ:PRCH) Director Alan Pickerill Sells 10,000 Shares of Company Stock

Porch Group, Inc. (NASDAQ:PRCH) Director Alan Pickerill sold 10,000 shares of the stock in a transaction dated Tuesday, November 3rd. The shares were sold at an average price of $21.00, for a total value of $210,000.00. Following the sale, the director owned 193,356 shares of the company’s stock, valued at $4,060,476. This represents a 4.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Porch Group Price Performance

PRCH opened at $20.31 on Friday. The stock’s 50 day simple moving average is $17.53 and its 200 day simple moving average is $12.26. The company has a debt-to-equity ratio of 13.21, a current ratio of 1.46 and a quick ratio of 1.46. Porch Group, Inc. has a 1 year low of $6.36 and a 1 year high of $21.96. The firm has a market cap of $2.68 billion, a price-to-earnings ratio of 253.87 and a beta of 3.16.

Porch Group (NASDAQ:PRCH) last announced its quarterly earnings results on Wednesday, October 28th. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.09. Porch Group had a return on equity of 39.28% and a net margin of 1.81%. The business had revenue of $143.86 million for the quarter, compared to analysts’ expectations of $134.65 million. As a group, analysts predict that Porch Group, Inc. will post -0.01 earnings per share for the current year.

Wall Street Analyst Weigh In

PRCH has been the topic of several analyst reports. Cantor Fitzgerald lifted their target price on shares of Porch Group from $18.00 to $20.00 and gave the stock an “overweight” rating in a research note on Friday, September 25th. Craig Hallum set a $25.00 price target on shares of Porch Group in a research report on Thursday, October 29th. Benchmark raised their price target on shares of Porch Group from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. B. Riley Financial boosted their price objective on shares of Porch Group from $21.00 to $24.00 and gave the company a “buy” rating in a research report on Wednesday, October 14th. Finally, Wall Street Zen upgraded shares of Porch Group from a “hold” rating to a “buy” rating in a research report on Saturday, October 31st. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $20.79.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of PRCH. GAMMA Investing LLC lifted its holdings in Porch Group by 6.6% in the 3rd quarter. GAMMA Investing LLC now owns 12,503 shares of the company’s stock worth $208,000 after buying an additional 778 shares during the period. Hsbc Holdings PLC increased its stake in shares of Porch Group by 2.8% during the second quarter. Hsbc Holdings PLC now owns 39,370 shares of the company’s stock valued at $587,000 after buying an additional 1,065 shares during the period. Moody National Bank Trust Division increased its stake in shares of Porch Group by 0.3% during the second quarter. Moody National Bank Trust Division now owns 658,852 shares of the company’s stock valued at $9,909,000 after buying an additional 1,700 shares during the period. State of Alaska Department of Revenue increased its stake in shares of Porch Group by 5.1% during the third quarter. State of Alaska Department of Revenue now owns 40,723 shares of the company’s stock valued at $678,000 after buying an additional 1,981 shares during the period. Finally, Osbon Capital Management LLC bought a new position in shares of Porch Group during the second quarter valued at approximately $40,000. Institutional investors own 48.48% of the company’s stock.

Porch Group Company Profile

Porch Group, Inc is a technology company that provides software and services for the residential home services industry. Its platform is designed to help businesses manage customer relationships, scheduling, communications, payments, marketing and other operational workflows.

The company serves professionals involved in the home-buying and home-maintenance ecosystem, including home inspection companies and other service providers. Its offerings have included specialized software platforms such as Inspection Support Network and Floify, which support inspection management and mortgage-related workflows, respectively.

Founded in 2012 by Matt Ehrlichman, Porch initially operated as a consumer-focused home improvement marketplace before expanding into vertical software and related services.