Porch Group (NASDAQ:PRCH) COO Sells $609,724.32 in Stock

Porch Group, Inc. (NASDAQ:PRCH) COO Matthew Neagle sold 62,344 shares of Porch Group stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $9.78, for a total value of $609,724.32. Following the sale, the chief operating officer directly owned 1,990,705 shares in the company, valued at $19,469,094.90. The trade was a 3.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible 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 Friday, May 15th, Matthew Neagle sold 59,983 shares of Porch Group stock. The shares were sold at an average price of $10.34, for a total value of $620,224.22.
• On Tuesday, May 12th, Matthew Neagle sold 63,650 shares of Porch Group stock. The stock was sold at an average price of $10.52, for a total value of $669,598.00.
• On Friday, May 8th, Matthew Neagle sold 60,240 shares of Porch Group stock. The shares were sold at an average price of $11.12, for a total value of $669,868.80.
• On Tuesday, May 5th, Matthew Neagle sold 60,802 shares of Porch Group stock. The stock was sold at an average price of $10.43, for a total transaction of $634,164.86.
• On Friday, May 1st, Matthew Neagle sold 64,274 shares of Porch Group stock. The stock was sold at an average price of $9.79, for a total transaction of $629,242.46.
• On Tuesday, April 28th, Matthew Neagle sold 59,901 shares of Porch Group stock. The shares were sold at an average price of $8.11, for a total transaction of $485,797.11.
• On Friday, April 24th, Matthew Neagle sold 63,979 shares of Porch Group stock. The stock was sold at an average price of $7.68, for a total transaction of $491,358.72.
• On Tuesday, April 21st, Matthew Neagle sold 62,801 shares of Porch Group stock. The stock was sold at an average price of $8.12, for a total transaction of $509,944.12.
• On Friday, April 17th, Matthew Neagle sold 58,978 shares of Porch Group stock. The shares were sold at an average price of $7.87, for a total transaction of $464,156.86.
• On Tuesday, April 14th, Matthew Neagle sold 83,599 shares of Porch Group stock. The shares were sold at an average price of $6.84, for a total transaction of $571,817.16.

Porch Group Stock Performance

Shares of PRCH opened at $9.56 on Friday. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 14.87. The firm’s fifty day simple moving average is $8.37 and its two-hundred day simple moving average is $8.79. Porch Group, Inc. has a 12 month low of $6.36 and a 12 month high of $19.44. The stock has a market capitalization of $1.22 billion, a P/E ratio of -56.23 and a beta of 3.24.

Porch Group (NASDAQ:PRCH) last posted its quarterly earnings data on Tuesday, April 28th. The company reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.06. The firm had revenue of $109.44 million during the quarter, compared to analyst estimates of $94.72 million. Porch Group had a negative return on equity of 115.59% and a negative net margin of 3.41%. As a group, analysts predict that Porch Group, Inc. will post -0.04 EPS for the current year.

Institutional Investors Weigh In On Porch Group

Hedge funds and other institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. increased its holdings in shares of Porch Group by 95.1% during the third 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. Vanguard Group Inc. grew its holdings in Porch Group by 5.6% during the third quarter. Vanguard Group Inc. now owns 7,252,134 shares of the company’s stock worth $121,691,000 after buying an additional 384,451 shares in the last quarter. Harbor Capital Advisors Inc. grew its holdings in Porch Group by 68.9% during the fourth quarter. Harbor Capital Advisors Inc. now owns 388,299 shares of the company’s stock worth $3,545,000 after buying an additional 158,368 shares in the last quarter. Tudor Investment Corp ET AL grew its holdings 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 buying an additional 242,722 shares in the last quarter. Finally, Algert Global LLC grew its holdings 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 buying an additional 727,394 shares in the last quarter. Institutional investors own 48.48% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on PRCH shares. Keefe, Bruyette & Woods raised 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 note on Wednesday, February 11th. Stephens assumed coverage on shares of Porch Group in a research report on Monday, May 4th. They set an “overweight” rating and a $12.00 price objective for the company. Zacks Research raised shares of Porch Group from a “strong sell” rating to a “hold” rating in a research report on Friday, March 6th. Finally, Benchmark raised their price objective on shares of Porch Group from $21.00 to $22.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Seven investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $17.21.

Porch Group Company Profile

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.