Porch Group, Inc. (NASDAQ:PRCH – Get Free Report) COO Matthew Neagle sold 31,250 shares of Porch Group stock in a transaction that occurred on Tuesday, October 20th. The shares were sold at an average price of $18.01, for a total transaction of $562,812.50. Following the transaction, the chief operating officer owned 1,793,006 shares of the company’s stock, valued at $32,292,038.06. The trade was a 1.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Matthew Neagle also recently made the following trade(s):
- On Friday, October 16th, Matthew Neagle sold 40,625 shares of Porch Group stock. The stock was sold at an average price of $17.56, for a total value of $713,375.00.
- 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 stock was 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 Stock Down 3.5%
PRCH stock opened at $17.94 on Friday. The business has a 50 day moving average of $17.08 and a 200 day moving average of $13.47. The firm has a market cap of $2.37 billion, a PE ratio of -149.50 and a beta of 3.18. Porch Group, Inc. has a twelve month low of $6.36 and a twelve 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 released its earnings results on Wednesday, July 29th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of ($0.03) by $0.08. Porch Group had a negative return on equity of 68.47% and a negative net margin of 2.67%. The business had revenue of $131.81 million for the quarter, compared to the consensus estimate of $122.30 million. On average, research analysts forecast that Porch Group, Inc. will post -0.04 EPS for the current fiscal year.
Hedge Funds Weigh In On Porch Group
Hedge funds have recently added to or reduced their stakes in the company. Wellington Management Group LLP boosted its stake in Porch Group by 5.7% during the 2nd quarter. Wellington Management Group LLP now owns 1,297,050 shares of the company’s stock valued at $19,508,000 after purchasing an additional 70,139 shares during the last quarter. Bank of America Corp DE bought a new stake in shares of Porch Group in the 2nd quarter worth $1,920,000. Legal & General Group Plc bought a new stake in shares of Porch Group in the 2nd quarter worth $904,000. Dimensional Fund Advisors LP raised its stake in shares of Porch Group by 42.0% in the first quarter. Dimensional Fund Advisors LP now owns 1,540,082 shares of the company’s stock worth $11,040,000 after purchasing an additional 455,817 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new position in shares of Porch Group in the first quarter worth $1,015,000. 48.48% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several equities analysts have recently issued reports on the company. Weiss Ratings raised Porch Group from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday. Craig Hallum upped their price target on shares of Porch Group from $20.00 to $22.00 and gave the stock a “buy” rating in a research note on Wednesday, October 14th. 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 research report on Thursday, July 30th. B. Riley Financial raised their price objective on shares of Porch Group from $21.00 to $24.00 and gave the company a “buy” rating in a research note on Wednesday, October 14th. Finally, Cantor Fitzgerald raised their price objective on shares of Porch Group from $18.00 to $20.00 and gave the company an “overweight” rating in a research note on Friday, September 25th. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $19.64.
Check Out Our Latest Stock Analysis on Porch Group
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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