Porch Group (NASDAQ:PRCH) COO Matthew Neagle Sells 83,599 Shares

Porch Group, Inc. (NASDAQ:PRCH) COO Matthew Neagle sold 83,599 shares of the business’s stock in a transaction on Tuesday, April 14th. The stock was sold at an average price of $6.84, for a total value of $571,817.16. Following the transaction, the chief operating officer directly owned 2,607,657 shares in the company, valued at $17,836,373.88. This trade represents a 3.11% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 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 Thursday, April 9th, Matthew Neagle sold 62,827 shares of Porch Group stock. The shares were sold at an average price of $7.15, for a total value of $449,213.05.
• On Tuesday, April 7th, Matthew Neagle sold 28,825 shares of Porch Group stock. The shares were sold at an average price of $7.19, for a total transaction of $207,251.75.
• On Thursday, April 2nd, Matthew Neagle sold 8,446 shares of Porch Group stock. The stock was sold at an average price of $6.98, for a total transaction of $58,953.08.

Porch Group Stock Up 3.6%

PRCH stock opened at $7.71 on Friday. Porch Group, Inc. has a one year low of $4.64 and a one year high of $19.44. The firm has a market cap of $959.59 million, a PE ratio of -154.20 and a beta of 3.09. The firm’s 50 day moving average price is $7.61 and its 200-day moving average price is $9.89. The company has a debt-to-equity ratio of 17.20, a quick ratio of 1.30 and a current ratio of 1.30.

Porch Group (NASDAQ:PRCH) last issued its quarterly earnings data on Wednesday, February 11th. The company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.05. The company had revenue of $112.25 million during the quarter, compared to analyst estimates of $109.13 million. Porch Group had a negative return on equity of 51.86% and a negative net margin of 0.72%. On average, equities research analysts anticipate that Porch Group, Inc. will post -0.63 EPS for the current year.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Weiss Ratings reissued a “sell (d+)” rating on shares of Porch Group in a research report on Monday, December 29th. Benchmark reaffirmed a “buy” rating on shares of Porch Group in a research report on Friday, January 16th. Zacks Research raised shares of Porch Group from a “strong sell” rating to a “hold” rating in a research note on Friday, March 6th. Finally, Keefe, Bruyette & Woods upgraded shares of Porch Group from a “market perform” rating to an “outperform” rating and dropped their price target for the company from $13.00 to $10.50 in a research report on Wednesday, February 11th. Seven equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $17.21.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of PRCH. Vanguard Group Inc. lifted its stake in Porch Group by 5.6% during the 3rd quarter. Vanguard Group Inc. now owns 7,252,134 shares of the company’s stock worth $121,691,000 after acquiring an additional 384,451 shares in the last quarter. JPMorgan Chase & Co. grew its position in Porch Group by 95.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 924,180 shares of the company’s stock valued at $15,508,000 after acquiring an additional 450,560 shares in the last quarter. Harbor Capital Advisors Inc. grew its position in Porch Group by 68.9% in the 4th quarter. Harbor Capital Advisors Inc. now owns 388,299 shares of the company’s stock valued at $3,545,000 after acquiring an additional 158,368 shares in the last quarter. Algert Global LLC increased its stake in Porch Group by 2,254.1% during the third quarter. Algert Global LLC now owns 759,664 shares of the company’s stock worth $12,747,000 after purchasing an additional 727,394 shares during the period. Finally, Tudor Investment Corp ET AL increased its stake in Porch Group by 1,897.9% during the third quarter. Tudor Investment Corp ET AL now owns 255,511 shares of the company’s stock worth $4,287,000 after purchasing an additional 242,722 shares during the period. 48.48% of the stock is currently owned by hedge funds and other institutional investors.

About Porch Group

Porch Group, Inc operates a technology-driven home services platform designed to connect homeowners with professional contractors, maintenance providers and home improvement specialists. Through its online marketplace and proprietary software solutions, Porch enables users to research, compare and book services ranging from home repairs and remodeling to maintenance and renovations. The company’s platform integrates detailed provider profiles, customer reviews and real-time appointment scheduling to streamline the process of sourcing and managing home projects.

In addition to its core marketplace, Porch offers software products tailored for service professionals.