Matthew Neagle Sells 83,599 Shares of Porch Group (NASDAQ:PRCH) Stock

Key Points

• Matthew Neagle sold 83,599 shares of Porch Group on April 14 at an average price of $6.84 for proceeds of $571,817; the sale—reported to the SEC—was made to cover tax withholding from equity vesting and reduced his stake by 3.11% to 2,607,657 shares (≈$17.84M).
• Neagle also sold additional shares earlier in April (62,827 on April 9, 28,825 on April 7 and 8,446 on April 2), bringing his April disposals to about 183,700 shares for roughly $1.29 million in total proceeds.
• Separately, PRCH traded up 3.6% to $7.71 amid above-average volume; analysts have a consensus rating of "Moderate Buy" with an average price target of $17.21, while the company remains unprofitable on a P/E basis and has a market cap near $960M.

Porch Group, Inc. (NASDAQ:PRCH - Get Free Report) COO Matthew Neagle sold 83,599 shares of Porch Group 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 owned 2,607,657 shares in the company, valued at approximately $17,836,373.88. This trade represents a 3.11% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 stock was 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 stock was sold at an average price of $6.98, for a total transaction of $58,953.08.

Porch Group Trading Up 3.6%

Shares of PRCH traded up $0.27 during trading hours on Thursday, reaching $7.71. 1,693,775 shares of the company traded hands, compared to its average volume of 1,523,527. Porch Group, Inc. has a 12 month low of $4.64 and a 12 month high of $19.44. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 17.20. The company's fifty day moving average price is $7.58 and its two-hundred day moving average price is $9.90. The company has a market capitalization of $959.59 million, a price-to-earnings ratio of -154.20 and a beta of 3.09.

Porch Group (NASDAQ:PRCH - Get Free Report) last released its quarterly earnings results on Wednesday, February 11th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.08) by $0.05. Porch Group had a negative net margin of 0.72% and a negative return on equity of 51.86%. The company had revenue of $112.25 million during the quarter, compared to the consensus estimate of $109.13 million. Equities research analysts predict that Porch Group, Inc. will post -0.63 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on PRCH shares. Zacks Research upgraded Porch Group from a "strong sell" rating to a "hold" rating in a research note on Friday, March 6th. Benchmark reiterated a "buy" rating on shares of Porch Group in a report on Friday, January 16th. Weiss Ratings reissued a "sell (d+)" rating on shares of Porch Group in a research report on Monday, December 29th. Finally, Keefe, Bruyette & Woods upgraded shares of Porch Group from a "market perform" rating to an "outperform" rating and dropped their target price for the company from $13.00 to $10.50 in a 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 assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $17.21.

Institutional Investors Weigh In On Porch Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Aster Capital Management DIFC Ltd lifted its holdings 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 valued at $26,000 after purchasing an additional 1,377 shares in the last quarter. Larson Financial Group LLC raised its position in shares of Porch Group by 444.8% during the 3rd 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 period. RiverPark Advisors LLC purchased a new position in shares of Porch Group during the 3rd quarter valued at $39,000. Osbon Capital Management LLC purchased a new position in shares of Porch Group during the 4th quarter valued at $25,000. Finally, Kemnay Advisory Services Inc. bought a new position in Porch Group in the 4th quarter worth $38,000. Institutional investors own 48.48% of the company's stock.

Porch Group Company Profile

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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