Porch Group (NASDAQ:PRCH) COO Sells $464,156.86 in Stock

Key Points

• COO Matthew Neagle sold 58,978 shares on April 17 at an average of $7.87 for $464,156.86 to cover tax withholding on vested equity, part of several April dispositions that reduced his stake by 2.26% to 2,548,679 shares (≈$20.06M).
• Porch Group shares were trading around $7.95 (market cap ≈$989M) with a 1‑year range of $4.68–$19.44, and analysts hold a consensus "Moderate Buy" rating with an average price target of $17.21.

Porch Group, Inc. (NASDAQ:PRCH - Get Free Report) COO Matthew Neagle sold 58,978 shares of Porch Group stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of $7.87, for a total value of $464,156.86. Following the completion of the sale, the chief operating officer directly owned 2,548,679 shares in the company, valued at $20,058,103.73. This represents a 2.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 14th, Matthew Neagle sold 83,599 shares of Porch Group stock. The stock was sold at an average price of $6.84, for a total value of $571,817.16.
• On Thursday, April 9th, Matthew Neagle sold 62,827 shares of Porch Group stock. The stock was sold at an average price of $7.15, for a total value 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 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 Price Performance

Shares of NASDAQ:PRCH traded down $0.03 during trading on Tuesday, reaching $7.95. The stock had a trading volume of 1,375,800 shares, compared to its average volume of 1,536,387. The company has a debt-to-equity ratio of 17.20, a quick ratio of 1.30 and a current ratio of 1.30. The business has a fifty day moving average price of $7.64 and a 200-day moving average price of $9.67. The stock has a market cap of $989.46 million, a PE ratio of -159.00 and a beta of 3.09. Porch Group, Inc. has a 1-year low of $4.68 and a 1-year high of $19.44.

Porch Group (NASDAQ:PRCH - Get Free Report) last issued 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. The firm had revenue of $112.25 million for the quarter, compared to analyst estimates 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 analysts forecast that Porch Group, Inc. will post 0.02 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports 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 raised Porch Group from a "strong sell" rating to a "hold" rating in a research note on Friday, March 6th. Keefe, Bruyette & Woods raised Porch Group from a "market perform" rating to an "outperform" rating and lowered their price objective for the stock from $13.00 to $10.50 in a research note on Wednesday, February 11th. Finally, Benchmark reissued a "buy" rating on shares of Porch Group in a research note on Friday, January 16th. 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. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $17.21.

Hedge Funds Weigh In On Porch Group

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 during the fourth quarter worth $25,000. Aster Capital Management DIFC Ltd boosted its stake 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 worth $26,000 after buying an additional 1,377 shares during the last quarter. Larson Financial Group LLC boosted its stake in Porch Group by 444.8% during the third quarter. Larson Financial Group LLC now owns 1,836 shares of the company's stock worth $31,000 after buying an additional 1,499 shares during the last quarter. Kemnay Advisory Services Inc. acquired a new position in Porch Group during the fourth quarter worth $38,000. Finally, RiverPark Advisors LLC acquired a new position in Porch Group during the third quarter worth $39,000. Institutional investors and hedge funds 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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