Matthew Neagle Sells 62,827 Shares of Porch Group (NASDAQ:PRCH) Stock

Key Points

• Matthew Neagle sold 62,827 shares of Porch Group on April 9 at an average price of $7.15 for about $449,213 to cover tax withholding, leaving him with 2,691,256 shares (a 2.28% ownership decline).
• Multiple insiders also sold shares (including the CEO and CFO) in early April largely to cover tax on vested awards, a pattern that coincided with the stock trading down roughly 3.7% to $6.76 and adding near-term selling pressure.
• Company results and analyst view: Porch beat EPS and revenue estimates for the quarter but remains unprofitable, has a market cap of about $841M, and carries a MarketBeat consensus rating of "Moderate Buy" with a ~$17.21 price target.

Porch Group, Inc. (NASDAQ:PRCH - Get Free Report) COO Matthew Neagle sold 62,827 shares of the business's stock in a transaction on Thursday, April 9th. The shares were sold at an average price of $7.15, for a total transaction of $449,213.05. Following the transaction, the chief operating officer owned 2,691,256 shares in the company, valued at approximately $19,242,480.40. This represents a 2.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 shares were sold at an average price of $6.98, for a total value of $58,953.08.

Porch Group Stock Down 3.7%

NASDAQ PRCH traded down $0.26 on Friday, reaching $6.76. The stock had a trading volume of 1,081,102 shares, compared to its average volume of 1,526,479. The business has a 50 day moving average price of $7.61 and a 200 day moving average price of $10.26. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 17.20. Porch Group, Inc. has a 1 year low of $4.64 and a 1 year high of $19.44. The company has a market capitalization of $841.35 million, a price-to-earnings ratio of -135.20 and a beta of 3.09.

Porch Group (NASDAQ:PRCH - Get Free Report) last posted its quarterly earnings results on Wednesday, February 11th. The company reported ($0.03) earnings per share for the quarter, topping analysts' consensus estimates of ($0.08) by $0.05. The company 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, analysts forecast that Porch Group, Inc. will post -0.63 EPS for the current fiscal year.

Wall Street Analyst Weigh In

PRCH has been the subject of a number of analyst reports. Weiss Ratings reiterated a "sell (d+)" rating on shares of Porch Group in a research note on Monday, December 29th. Zacks Research upgraded shares of Porch Group from a "strong sell" rating to a "hold" rating in a report on Friday, March 6th. Benchmark reaffirmed a "buy" rating on shares of Porch Group in a research note on Friday, January 16th. Finally, Keefe, Bruyette & Woods upgraded shares of Porch Group from a "market perform" rating to an "outperform" rating and decreased their price objective for the stock from $13.00 to $10.50 in a report on Wednesday, February 11th. Seven analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $17.21.

Institutional Investors Weigh In On Porch Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Osbon Capital Management LLC acquired a new position in Porch Group in the 4th quarter valued at $25,000. Alpine Global Management LLC lifted its position in Porch Group by 45.5% during the 4th quarter. Alpine Global Management LLC now owns 11,636 shares of the company's stock worth $106,000 after acquiring an additional 3,636 shares during the last quarter. Beartown Capital Management LLC acquired a new position in Porch Group during the 4th quarter worth $4,108,000. Veradace Capital Management LLC bought a new stake in Porch Group during the fourth quarter valued at about $2,193,000. Finally, XTX Topco Ltd grew its position in shares of Porch Group by 65.7% in the fourth quarter. XTX Topco Ltd now owns 21,341 shares of the company's stock valued at $195,000 after purchasing an additional 8,460 shares during the last quarter. 48.48% of the stock is currently owned by institutional investors and hedge funds.

Key Porch Group News

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

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.

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