Porch Group, Inc. (NASDAQ:PRCH – Get Free Report) COO Matthew Neagle sold 40,625 shares of the stock in a transaction on Friday, October 16th. The shares were sold at an average price of $17.56, for a total value of $713,375.00. Following the completion of the transaction, the chief operating officer owned 1,824,256 shares in the company, valued at $32,033,935.36. The trade was a 2.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Matthew Neagle also recently made the following trade(s):
- On Tuesday, October 6th, Matthew Neagle sold 27,881 shares of Porch Group stock. The stock was sold at an average price of $17.35, for a total value of $483,735.35.
- On Monday, October 5th, Matthew Neagle sold 7,318 shares of Porch Group stock. The stock was sold at an average price of $16.83, for a total value of $123,161.94.
- On Thursday, October 1st, Matthew Neagle sold 40,625 shares of Porch Group stock. The shares were sold at an average price of $16.69, for a total value of $678,031.25.
- On Monday, September 14th, Matthew Neagle sold 50,000 shares of Porch Group stock. The shares were sold at an average price of $16.46, for a total value of $823,000.00.
Porch Group Price Performance
Porch Group stock opened at $18.59 on Thursday. The business’s 50-day simple moving average is $17.06 and its 200 day simple moving average is $13.39. The stock has a market cap of $2.45 billion, a price-to-earnings ratio of -154.92 and a beta of 3.18. Porch Group, Inc. has a 12-month low of $6.36 and a 12-month high of $18.75. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 20.53.
Porch Group (NASDAQ:PRCH – Get Free Report) last announced 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. The firm had revenue of $131.81 million during the quarter, compared to analyst estimates of $122.30 million. Porch Group had a negative return on equity of 68.47% and a negative net margin of 2.67%. As a group, research analysts anticipate that Porch Group, Inc. will post -0.04 earnings per share for the current year.
Hedge Funds Weigh In On Porch Group
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. State of Alaska Department of Revenue lifted its stake in Porch Group by 5.1% in 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 in the last quarter. GAMMA Investing LLC boosted its holdings in shares of Porch Group by 6.6% in the third quarter. GAMMA Investing LLC now owns 12,503 shares of the company’s stock valued at $208,000 after buying an additional 778 shares during the period. Integrated Wealth Concepts LLC bought a new stake in shares of Porch Group during the second quarter worth $138,000. NewEdge Advisors LLC bought a new stake in shares of Porch Group during the second quarter worth $198,000. Finally, Corient Private Wealth LP increased its position in shares of Porch Group by 550.4% during the second quarter. Corient Private Wealth LP now owns 71,151 shares of the company’s stock worth $1,070,000 after acquiring an additional 60,212 shares in the last quarter. 48.48% of the stock is owned by institutional investors.
Analysts Set New Price Targets
PRCH has been the topic of several analyst reports. Benchmark increased their price objective on shares of Porch Group from $22.00 to $23.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Craig Hallum lifted their target price on shares of Porch Group from $20.00 to $22.00 and gave the stock a “buy” rating in a report on Wednesday, October 14th. Texas Capital raised shares of Porch Group to a “strong-buy” rating in a report on Tuesday, September 22nd. Weiss Ratings upgraded shares of Porch Group from a “sell (d-)” rating to a “sell (d+)” rating in a research report on Thursday, July 30th. Finally, Cantor Fitzgerald upped their target price on shares of Porch Group from $18.00 to $20.00 and gave the company an “overweight” rating in a research report on Friday, September 25th. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Porch Group presently has an average rating of “Moderate Buy” and a consensus price target of $19.64.
Check Out Our Latest Research Report on PRCH
About Porch Group
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.
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