Porch Group, Inc. (NASDAQ:PRCH) COO Sells $2,557,500.00 in Stock

Porch Group, Inc. (NASDAQ:PRCH) COO Matthew Neagle sold 250,000 shares of the stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $10.23, for a total transaction of $2,557,500.00. Following the completion of the transaction, the chief operating officer now owns 1,198,080 shares of the company’s stock, valued at $12,256,358.40. This represents a 17.26% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Monday, March 24th, Matthew Neagle sold 27,328 shares of Porch Group stock. The shares were sold at an average price of $6.99, for a total transaction of $191,022.72.
• On Monday, March 17th, Matthew Neagle sold 60,000 shares of Porch Group stock. The shares were sold at an average price of $6.24, for a total transaction of $374,400.00.

Porch Group Price Performance

NASDAQ PRCH opened at $10.79 on Thursday. The company has a 50 day simple moving average of $6.59 and a 200-day simple moving average of $5.22. The firm has a market capitalization of $1.30 billion, a price-to-earnings ratio of -15.41 and a beta of 2.44. Porch Group, Inc. has a 52-week low of $1.05 and a 52-week high of $11.35.

Porch Group (NASDAQ:PRCH) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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. On average, analysts predict that Porch Group, Inc. will post -0.63 EPS for the current year.

Institutional Trading of Porch Group

A number of hedge funds have recently made changes to their positions in the stock. FNY Investment Advisers LLC acquired a new position in Porch Group in the first quarter worth approximately $29,000. Nisa Investment Advisors LLC increased its holdings in Porch Group by 5,776.1% in the fourth quarter. Nisa Investment Advisors LLC now owns 6,640 shares of the company’s stock worth $33,000 after buying an additional 6,527 shares during the last quarter. Jones Financial Companies Lllp acquired a new position in Porch Group in the fourth quarter worth approximately $35,000. CWM LLC increased its holdings in Porch Group by 112.2% in the first quarter. CWM LLC now owns 8,732 shares of the company’s stock worth $64,000 after buying an additional 4,617 shares during the last quarter. Finally, Rik Saylor Financial Inc. acquired a new position in Porch Group in the fourth quarter worth approximately $49,000. 48.48% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on PRCH shares. Benchmark upped their price target on shares of Porch Group from $10.00 to $12.00 and gave the company a “buy” rating in a report on Wednesday, May 7th. Stephens upped 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. Loop Capital reissued a “buy” rating and issued a $13.00 price target (up from $6.00) on shares of Porch Group in a report on Wednesday. Keefe, Bruyette & Woods upped their price target on shares of Porch Group from $6.00 to $7.00 and gave the company a “market perform” rating in a report on Wednesday, May 7th. Finally, Oppenheimer upped their price target on shares of Porch Group from $8.00 to $9.00 and gave the company an “outperform” rating in a report on Wednesday, May 7th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Porch Group presently has a consensus rating of “Buy” and a consensus price target of $8.89.

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.