Porch Group, Inc. (NASDAQ:PRCH) COO Sells $631,800.00 in Stock

Porch Group, Inc. (NASDAQ:PRCH) COO Matthew Neagle sold 60,000 shares of Porch Group stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $10.53, for a total value of $631,800.00. Following the completion of the transaction, the chief operating officer now directly owns 1,138,080 shares in the company, valued at $11,983,982.40. This trade represents a 5.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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

• On Monday, May 12th, Matthew Neagle sold 250,000 shares of Porch Group stock. The stock was sold at an average price of $10.23, for a total value of $2,557,500.00.
• On Monday, March 24th, Matthew Neagle sold 27,328 shares of Porch Group stock. The stock was sold at an average price of $6.99, for a total value of $191,022.72.
• On Monday, March 17th, Matthew Neagle sold 60,000 shares of Porch Group stock. The stock was sold at an average price of $6.24, for a total value of $374,400.00.

Porch Group Trading Up 2.7%

NASDAQ:PRCH opened at $10.13 on Friday. The company has a 50-day moving average price of $7.18 and a 200-day moving average price of $5.60. Porch Group, Inc. has a 12 month low of $1.05 and a 12 month high of $12.20. The stock has a market cap of $1.22 billion, a price-to-earnings ratio of -14.47 and a beta of 2.44.

Porch Group (NASDAQ:PRCH) last posted its earnings results on Tuesday, May 6th. The company reported $0.02 EPS for the quarter, topping the consensus estimate of ($0.07) by $0.09. The company had revenue of $104.75 million during the quarter, compared to analysts’ expectations of $79.44 million. Equities analysts forecast that Porch Group, Inc. will post -0.63 EPS for the current fiscal year.

Institutional Investors Weigh In On Porch Group

Several institutional investors and hedge funds have recently modified their holdings of PRCH. Acadian Asset Management LLC lifted its position in Porch Group by 92.5% during the 1st quarter. Acadian Asset Management LLC now owns 1,619,752 shares of the company’s stock valued at $11,800,000 after acquiring an additional 778,240 shares during the period. Goldman Sachs Group Inc. lifted its position in Porch Group by 2.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,161,064 shares of the company’s stock valued at $8,464,000 after acquiring an additional 26,119 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Porch Group by 4.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 48,275 shares of the company’s stock valued at $352,000 after acquiring an additional 2,002 shares during the period. Bosun Asset Management LLC purchased a new position in Porch Group during the 1st quarter valued at about $209,000. Finally, AQR Capital Management LLC lifted its position in Porch Group by 134.7% during the 1st quarter. AQR Capital Management LLC now owns 226,795 shares of the company’s stock valued at $1,653,000 after acquiring an additional 130,166 shares during the period. 48.48% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on PRCH. Oppenheimer lifted their price target on Porch Group from $8.00 to $9.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 7th. Keefe, Bruyette & Woods lifted their price target on Porch Group from $6.00 to $7.00 and gave the stock a “market perform” rating in a research note on Wednesday, May 7th. Benchmark upped their target price on Porch Group from $10.00 to $12.00 and gave the company a “buy” rating in a report on Wednesday, May 7th. Loop Capital reaffirmed a “buy” rating and issued a $13.00 price target (up previously from $6.00) on shares of Porch Group in a research note on Wednesday, May 14th. Finally, Stephens lifted their price target on shares of Porch Group from $8.00 to $10.00 and gave the company an “overweight” rating in a report on Friday, March 21st. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Porch Group currently has a consensus rating of “Buy” and an average price target of $8.89.

Porch Group Company Profile

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.