Insider Selling: Porch Group (NASDAQ:PRCH) COO Sells $571,817.16 in Stock

Porch Group, Inc. (NASDAQ:PRCH) COO Matthew Neagle sold 83,599 shares of the stock in a transaction on Tuesday, April 14th. The shares were sold at an average price of $6.84, for a total transaction of $571,817.16. Following the completion of the sale, the chief operating officer directly owned 2,607,657 shares in the company, valued at approximately $17,836,373.88. This represents a 3.11% decrease in their position. The sale was disclosed in a document filed 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 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 transaction 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 shares were sold at an average price of $6.98, for a total transaction of $58,953.08.

Porch Group Trading Up 6.4%

Shares of PRCH opened at $8.20 on Friday. Porch Group, Inc. has a twelve month low of $4.64 and a twelve month high of $19.44. The company has a market cap of $1.02 billion, a P/E ratio of -164.00 and a beta of 3.09. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 17.20. The company’s fifty day simple moving average is $7.63 and its 200-day simple moving average is $9.78.

Porch Group (NASDAQ:PRCH) last announced its earnings results 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. The business had revenue of $112.25 million for the quarter, compared to the consensus estimate of $109.13 million. Porch Group had a negative net margin of 0.72% and a negative return on equity of 51.86%. As a group, analysts expect that Porch Group, Inc. will post -0.63 EPS for the current year.

Analyst Ratings Changes

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

Institutional Trading of Porch Group

A number of institutional investors have recently bought and sold shares of PRCH. AQR Capital Management LLC boosted its stake in Porch Group by 134.7% in the 1st quarter. AQR Capital Management LLC now owns 226,795 shares of the company’s stock worth $1,653,000 after purchasing an additional 130,166 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Porch Group by 4.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 48,275 shares of the company’s stock worth $352,000 after purchasing an additional 2,002 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in Porch Group by 2.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,161,064 shares of the company’s stock worth $8,464,000 after purchasing an additional 26,119 shares in the last quarter. Creative Planning acquired a new stake in Porch Group in the 2nd quarter worth approximately $136,000. Finally, Legal & General Group Plc boosted its stake in Porch Group by 1,203.8% in the 2nd quarter. Legal & General Group Plc now owns 108,759 shares of the company’s stock worth $1,282,000 after purchasing an additional 100,417 shares in the last quarter. 48.48% of the stock is currently owned by institutional investors and hedge funds.

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.