Porch Group (NASDAQ:PRCH) COO Sells $58,953.08 in Stock

Porch Group, Inc. (NASDAQ:PRCH) COO Matthew Neagle sold 8,446 shares of Porch Group stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $6.98, for a total transaction of $58,953.08. Following the completion of the sale, the chief operating officer owned 2,626,286 shares in the company, valued at $18,331,476.28. The trade was a 0.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Porch Group Stock Performance

Porch Group stock opened at $7.51 on Monday. The firm has a 50-day moving average of $7.67 and a 200-day moving average of $10.47. Porch Group, Inc. has a one year low of $4.64 and a one year high of $19.44. The company has a debt-to-equity ratio of 17.20, a current ratio of 1.30 and a quick ratio of 1.30. The company has a market cap of $934.69 million, a price-to-earnings ratio of -150.20 and a beta of 3.09.

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

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Osbon Capital Management LLC bought a new stake in Porch Group in the 4th quarter valued at $25,000. Aster Capital Management DIFC Ltd boosted its position in Porch Group by 956.3% during the third quarter. Aster Capital Management DIFC Ltd now owns 1,521 shares of the company’s stock worth $26,000 after purchasing an additional 1,377 shares during the period. Larson Financial Group LLC increased its holdings in shares of Porch Group by 444.8% in the third quarter. Larson Financial Group LLC now owns 1,836 shares of the company’s stock valued at $31,000 after purchasing an additional 1,499 shares during the last quarter. Kemnay Advisory Services Inc. acquired a new position in shares of Porch Group in the fourth quarter valued at $38,000. Finally, RiverPark Advisors LLC bought a new position in shares of Porch Group in the third quarter valued at about $39,000. 48.48% of the stock is currently owned by 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.