Insider Selling: Porch Group (NASDAQ:PRCH) COO Sells $449,213.05 in Stock

Porch Group, Inc. (NASDAQ:PRCH) COO Matthew Neagle sold 62,827 shares of the company’s stock in a transaction that occurred on Thursday, April 9th. The stock was sold at an average price of $7.15, for a total value of $449,213.05. Following the transaction, the chief operating officer directly owned 2,691,256 shares of the company’s stock, valued at approximately $19,242,480.40. The trade was a 2.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 Tuesday, April 7th, Matthew Neagle sold 28,825 shares of Porch Group stock. The stock was sold at an average price of $7.19, for a total value 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 value of $58,953.08.

Porch Group Stock Performance

Shares of PRCH stock opened at $6.76 on Monday. 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 $841.35 million, a price-to-earnings ratio of -135.20 and a beta of 3.09. The stock has a 50 day simple moving average of $7.59 and a 200-day simple moving average of $10.07. Porch Group, Inc. has a 1-year low of $4.64 and a 1-year high of $19.44.

Porch Group (NASDAQ:PRCH) last announced its earnings results 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 business had revenue of $112.25 million during the quarter, compared to the consensus estimate 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 expect that Porch Group, Inc. will post -0.63 EPS for the current fiscal year.

Key Headlines Impacting Porch Group

Here are the key news stories impacting Porch Group this week:

• Positive Sentiment: Recent quarterly results still show positive momentum: Porch posted an EPS beat and revenue above estimates in its Feb quarter, which supports the company’s recovery narrative and underpins analyst bullishness. MarketBeat PRCH
• Neutral Sentiment: Analyst coverage remains mixed but tilted positive — MarketBeat shows a consensus “Moderate Buy” and a multi-analyst price-target gap (consensus ~ $17.21), which can support upside if execution continues. Analyst Coverage
• Neutral Sentiment: The report lists short-interest as zero with days-to-cover 0.0 — this appears to be a data anomaly and should not be read as meaningful market positioning without confirmation from an exchange/official short-interest file.
• Negative Sentiment: CEO Matt Ehrlichman sold 121,293 shares at an average ~$7.15 (4/9 filing) to cover tax withholding from vested awards; his stake still remains large. CEO Form 4
• Negative Sentiment: COO Matthew Neagle sold 62,827 shares at ~ $7.15 (4/9 filing); the company says these sales were to cover tax withholding on vested equity. COO Form 4
• Negative Sentiment: CFO Shawn Tabak reported multiple small sales (7,734 shares on 4/9 and 9,344 shares on 4/7) at roughly $7.15–$7.19 to cover tax withholding; these are routine but add selling pressure. CFO Form 4

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Porch Group in a research note on Monday, December 29th. Zacks Research upgraded Porch Group from a “strong sell” rating to a “hold” rating in a research report on Friday, March 6th. Benchmark reiterated a “buy” rating on shares of Porch Group in a research report on Friday, January 16th. Finally, Keefe, Bruyette & Woods upgraded 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. Seven investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.21.

Institutional Trading of Porch Group

Several large investors have recently made changes to their positions in the company. Granahan Investment Management LLC increased its position in shares of Porch Group by 20.3% during the fourth quarter. Granahan Investment Management LLC now owns 11,590,428 shares of the company’s stock worth $105,821,000 after purchasing an additional 1,953,736 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Porch Group by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 7,314,207 shares of the company’s stock worth $66,779,000 after purchasing an additional 62,073 shares in the last quarter. Park West Asset Management LLC grew its holdings in Porch Group by 131.3% in the 4th quarter. Park West Asset Management LLC now owns 5,050,000 shares of the company’s stock valued at $46,106,000 after buying an additional 2,867,084 shares in the last quarter. Invesco Ltd. grew its holdings in Porch Group by 448.4% in the 3rd quarter. Invesco Ltd. now owns 3,795,064 shares of the company’s stock valued at $63,681,000 after buying an additional 3,103,018 shares in the last quarter. Finally, Divisadero Street Capital Management LP grew its holdings in Porch Group by 6.7% in the 3rd quarter. Divisadero Street Capital Management LP now owns 2,606,883 shares of the company’s stock valued at $43,743,000 after buying an additional 163,271 shares in the last quarter. 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.