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 stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $18.69, for a total value of $1,027,950.00. Following the transaction, the chief operating officer 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 position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Porch Group Trading Down 3.9%

PRCH stock opened at $17.44 on Friday. The stock has a market cap of $2.14 billion, a PE ratio of 34.20 and a beta of 2.84. The stock has a 50-day moving average price of $14.95 and a two-hundred day moving average price of $10.55. Porch Group, Inc. has a 1 year low of $1.26 and a 1 year high of $19.22.

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

Institutional Investors Weigh In On Porch Group

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Raymond James Financial Inc. bought a new stake in Porch Group in the 4th quarter worth about $50,000. Price T Rowe Associates Inc. MD grew its position in shares of Porch Group by 22.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 30,524 shares of the company’s stock valued at $151,000 after acquiring an additional 5,557 shares during the period. The Manufacturers Life Insurance Company grew its position in shares of Porch Group by 101.5% during the 4th quarter. The Manufacturers Life Insurance Company now owns 53,127 shares of the company’s stock valued at $261,000 after acquiring an additional 26,756 shares during the period. Northern Trust Corp grew its position in shares of Porch Group by 5.3% during the 4th quarter. Northern Trust Corp now owns 693,800 shares of the company’s stock valued at $3,413,000 after acquiring an additional 35,164 shares during the period. Finally, Jane Street Group LLC grew its position in shares of Porch Group by 777.5% during the 4th quarter. Jane Street Group LLC now owns 309,475 shares of the company’s stock valued at $1,523,000 after acquiring an additional 274,209 shares during the period. 48.48% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on PRCH. Keefe, Bruyette & Woods raised their target price on shares of Porch Group from $7.00 to $16.00 and gave the company a “market perform” rating in a research note on Wednesday, August 13th. Oppenheimer lifted their price target on shares of Porch Group from $14.00 to $17.00 and gave the company an “outperform” rating in a research report on Wednesday, August 6th. The Goldman Sachs Group assumed coverage on shares of Porch Group in a research report on Tuesday, September 2nd. They issued a “buy” rating and a $21.00 price target for the company. Benchmark lifted their price objective on shares of Porch Group from $17.00 to $21.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, B. Riley initiated coverage on shares of Porch Group in a report on Tuesday, July 1st. They set a “buy” rating and a $15.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $15.67.

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.