Porch Group, Inc. (NASDAQ:PRCH – Get Free Report) Director Amanda Reierson sold 8,501 shares of the company’s stock in a transaction on Tuesday, October 6th. The stock was sold at an average price of $17.95, for a total transaction of $152,592.95. Following the transaction, the director directly owned 125,679 shares in the company, valued at approximately $2,255,938.05. This trade represents a 6.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Porch Group Price Performance
Shares of PRCH traded up $0.14 during trading hours on Wednesday, reaching $17.31. The company had a trading volume of 2,030,450 shares, compared to its average volume of 1,714,197. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 20.53. Porch Group, Inc. has a 12-month low of $6.36 and a 12-month high of $18.37. The firm has a 50 day simple moving average of $16.56 and a 200-day simple moving average of $12.60. The company has a market capitalization of $2.28 billion, a price-to-earnings ratio of -144.25 and a beta of 3.18.
Porch Group (NASDAQ:PRCH – Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.08. Porch Group had a negative net margin of 2.67% and a negative return on equity of 68.47%. The firm had revenue of $131.81 million for the quarter, compared to the consensus estimate of $122.30 million. Research analysts expect that Porch Group, Inc. will post -0.09 earnings per share for the current year.
Analysts Set New Price Targets
Read Our Latest Analysis on PRCH
Institutional Trading of Porch Group
A number of large investors have recently made changes to their positions in the stock. BlackRock Inc. acquired a new position in Porch Group in the 2nd quarter valued at about $128,995,000. Granahan Investment Management LLC raised its position in shares of Porch Group by 20.3% in the fourth quarter. Granahan Investment Management LLC now owns 11,590,428 shares of the company’s stock valued at $105,821,000 after buying an additional 1,953,736 shares during the last quarter. Park West Asset Management LLC purchased a new position in shares of Porch Group during the second quarter valued at approximately $53,194,000. GC Wealth Management RIA LLC acquired a new stake in Porch Group during the first quarter worth approximately $29,230,000. Finally, Jupiter Topco LLC purchased a new stake in Porch Group in the 2nd quarter worth approximately $21,979,000. Institutional investors and hedge funds own 48.48% of the company’s stock.
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.
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