Porch Group, Inc. (NASDAQ:PRCH – Get Free Report) COO Matthew Neagle sold 27,881 shares of Porch Group stock in a transaction dated Tuesday, October 6th. The stock was sold at an average price of $17.35, for a total value of $483,735.35. Following the sale, the chief operating officer owned 1,864,881 shares of the company’s stock, valued at approximately $32,355,685.35. This represents a 1.47% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Matthew Neagle also recently made the following trade(s):
- On Monday, October 5th, Matthew Neagle sold 7,318 shares of Porch Group stock. The shares were sold at an average price of $16.83, for a total transaction of $123,161.94.
- On Thursday, October 1st, Matthew Neagle sold 40,625 shares of Porch Group stock. The stock was sold at an average price of $16.69, for a total transaction of $678,031.25.
- On Monday, September 14th, Matthew Neagle sold 50,000 shares of Porch Group stock. The stock was sold at an average price of $16.46, for a total transaction of $823,000.00.
Porch Group Trading Up 0.8%
Shares of NASDAQ PRCH traded up $0.14 during midday trading on Wednesday, reaching $17.31. 2,030,450 shares of the stock were exchanged, compared to its average volume of 1,714,197. The stock has a 50 day moving average price of $16.56 and a 200-day moving average price of $12.60. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 20.53. The company has a market capitalization of $2.28 billion, a P/E ratio of -144.25 and a beta of 3.18. Porch Group, Inc. has a 52-week low of $6.36 and a 52-week high of $18.37.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently issued reports on the company. Benchmark raised their price objective on Porch Group from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Texas Capital upgraded Porch Group to a “strong-buy” rating in a research note on Tuesday, September 22nd. Keefe, Bruyette & Woods increased their target price on Porch Group from $16.25 to $16.50 and gave the stock a “market perform” rating in a research report on Thursday, July 30th. Cantor Fitzgerald raised their price target on Porch Group from $18.00 to $20.00 and gave the stock an “overweight” rating in a research note on Friday, September 25th. Finally, Weiss Ratings upgraded Porch Group from a “sell (d-)” rating to a “sell (d+)” rating in a report on Thursday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $18.75.
Get Our Latest Analysis on PRCH
Institutional Inflows and Outflows
Large investors have recently made changes to their positions in the company. BlackRock Inc. acquired a new stake in Porch Group during the second quarter worth about $128,995,000. GC Wealth Management RIA LLC acquired a new position in shares of Porch Group in the 1st quarter valued at about $29,230,000. Park West Asset Management LLC purchased a new stake in shares of Porch Group during the 2nd quarter worth about $53,194,000. Granahan Investment Management LLC grew its holdings in shares of Porch Group by 20.3% during the 4th quarter. Granahan Investment Management LLC now owns 11,590,428 shares of the company’s stock worth $105,821,000 after purchasing an additional 1,953,736 shares during the period. Finally, Jupiter Topco LLC acquired a new stake in Porch Group during the 2nd quarter worth approximately $21,979,000. 48.48% of the stock is owned by hedge funds and other institutional investors.
Porch Group Company Profile
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.
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