Porch Group (NASDAQ:PRCH) Stock: Insider Alan Pickerill Sells 10,000 Shares

Key Points

• Director Alan Pickerill sold 10,000 Porch Group shares at an average price of $21, totaling $210,000. He retained 193,356 shares after the sale, a 4.92% reduction in his position.
• Porch Group’s latest quarterly results beat expectations, reporting EPS of $0.10 versus analysts’ $0.01 estimate and revenue of $143.86 million versus a $134.65 million consensus.
• Analysts’ consensus rating was Buy, with a $20.79 average price target. Shares fell 5.8% during Thursday trading to $20.31.

Porch Group, Inc. (NASDAQ:PRCH - Get Free Report) Director Alan Pickerill sold 10,000 shares of the firm's stock in a transaction that occurred on Tuesday, November 3rd. The stock was sold at an average price of $21.00, for a total transaction of $210,000.00. Following the transaction, the director owned 193,356 shares of the company's stock, valued at approximately $4,060,476. The trade was a 4.92% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Porch Group Trading Down 5.8%

Porch Group stock traded down $1.25 during trading hours on Thursday, reaching $20.31. 1,945,882 shares of the company's stock were exchanged, compared to its average volume of 1,760,421. The firm's 50 day simple moving average is $17.47 and its 200 day simple moving average is $12.20. Porch Group, Inc. has a twelve month low of $6.36 and a twelve month high of $21.96. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 13.21. The firm has a market capitalization of $2.68 billion, a PE ratio of 253.87 and a beta of 3.16.

Porch Group (NASDAQ:PRCH - Get Free Report) last released its earnings results on Wednesday, October 28th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.01 by $0.09. The company had revenue of $143.86 million for the quarter, compared to the consensus estimate of $134.65 million. Porch Group had a net margin of 1.81% and a return on equity of 39.28%. Research analysts predict that Porch Group, Inc. will post -0.01 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Oppenheimer lifted their target price on Porch Group from $20.00 to $25.00 and gave the company an "outperform" rating in a research report on Thursday, October 29th. Cantor Fitzgerald increased their price target on Porch Group from $18.00 to $20.00 and gave the company an "overweight" rating in a research report on Friday, September 25th. Benchmark raised their price objective on Porch Group from $22.00 to $23.00 and gave the company a "buy" rating in a research note on Thursday, July 30th. Weiss Ratings raised shares of Porch Group from a "sell (d+)" rating to a "hold (c-)" rating in a report on Wednesday, October 21st. Finally, Zacks Research raised shares of Porch Group from a "hold" rating to a "strong-buy" rating in a report on Thursday, October 15th. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, Porch Group presently has an average rating of "Buy" and a consensus target price of $20.79.

Institutional Investors Weigh In On Porch Group

A number of hedge funds have recently modified their holdings of PRCH. GAMMA Investing LLC increased its position in Porch Group by 6.6% in the third quarter. GAMMA Investing LLC now owns 12,503 shares of the company's stock worth $208,000 after buying an additional 778 shares during the last quarter. Hsbc Holdings PLC raised its stake in shares of Porch Group by 2.8% in the second quarter. Hsbc Holdings PLC now owns 39,370 shares of the company's stock valued at $587,000 after buying an additional 1,065 shares during the period. Moody National Bank Trust Division lifted its position in shares of Porch Group by 0.3% during the 2nd quarter. Moody National Bank Trust Division now owns 658,852 shares of the company's stock valued at $9,909,000 after buying an additional 1,700 shares during the last quarter. State of Alaska Department of Revenue lifted its position in shares of Porch Group by 5.1% during the 3rd quarter. State of Alaska Department of Revenue now owns 40,723 shares of the company's stock valued at $678,000 after buying an additional 1,981 shares during the last quarter. Finally, Osbon Capital Management LLC purchased a new position in shares of Porch Group during the 2nd quarter valued at $40,000. Institutional investors own 48.48% of the company's stock.

Porch Group Company Profile

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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