Porch Group (NASDAQ:PRCH) COO Sells $629,242.46 in Stock

Key Points

• Porch Group COO Matthew Neagle sold 64,274 shares on May 1 at $9.79 each for $629,242.46, leaving him with 2,297,724 shares (a 2.72% decrease in ownership) as disclosed in an SEC filing.
• The May 1 sale is part of a series of insider dispositions in April totaling about 429,356 shares for roughly $3.24 million, and the company says the trades were made to cover tax withholding related to vesting equity awards.
• PRCH traded at $11.23 midday with a 12‑month range of $6.02–$19.44, and analysts carry a "Moderate Buy" consensus (average price target $16.69; 8 Buys, 1 Hold, 1 Sell).

Porch Group, Inc. (NASDAQ:PRCH - Get Free Report) COO Matthew Neagle sold 64,274 shares of the firm's stock in a transaction on Friday, May 1st. The shares were sold at an average price of $9.79, for a total transaction of $629,242.46. Following the sale, the chief operating officer directly owned 2,297,724 shares of the company's stock, valued at approximately $22,494,717.96. The trade was a 2.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, 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 28th, Matthew Neagle sold 59,901 shares of Porch Group stock. The stock was sold at an average price of $8.11, for a total transaction of $485,797.11.
• On Friday, April 24th, Matthew Neagle sold 63,979 shares of Porch Group stock. The stock was sold at an average price of $7.68, for a total transaction of $491,358.72.
• On Tuesday, April 21st, Matthew Neagle sold 62,801 shares of Porch Group stock. The stock was sold at an average price of $8.12, for a total transaction of $509,944.12.
• On Friday, April 17th, Matthew Neagle sold 58,978 shares of Porch Group stock. The shares were sold at an average price of $7.87, for a total transaction of $464,156.86.
• On Tuesday, April 14th, Matthew Neagle sold 83,599 shares of Porch Group stock. The shares were sold at an average price of $6.84, for a total transaction of $571,817.16.
• 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 Price Performance

Shares of PRCH stock traded up $0.87 during midday trading on Tuesday, reaching $11.23. 3,267,035 shares of the company were exchanged, compared to its average volume of 1,726,196. Porch Group, Inc. has a 12 month low of $6.02 and a 12 month high of $19.44. The company has a market cap of $1.40 billion, a P/E ratio of -66.05 and a beta of 3.24. The company's 50 day moving average price is $7.68 and its two-hundred day moving average price is $9.26. The company has a debt-to-equity ratio of 14.87, a quick ratio of 1.28 and a current ratio of 1.28.

Porch Group (NASDAQ:PRCH - Get Free Report) last released its earnings results on Tuesday, April 28th. The company reported ($0.04) EPS for the quarter, topping analysts' consensus estimates of ($0.10) by $0.06. Porch Group had a negative net margin of 3.41% and a negative return on equity of 115.59%. The business had revenue of $109.44 million for the quarter, compared to the consensus estimate of $94.72 million. On average, sell-side analysts expect that Porch Group, Inc. will post -0.04 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Keefe, Bruyette & Woods raised shares of Porch Group from a "market perform" rating to an "outperform" rating and dropped their target price for the stock from $13.00 to $10.50 in a research report on Wednesday, February 11th. Stephens assumed coverage on shares of Porch Group in a research report on Monday. They issued an "overweight" rating and a $12.00 target price on the stock. Benchmark lifted their target price on shares of Porch Group from $21.00 to $22.00 and gave the stock a "buy" rating in a research report on Wednesday, April 29th. Finally, Zacks Research raised shares of Porch Group from a "strong sell" rating to a "hold" rating in a research report on Friday, March 6th. Eight analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $16.69.

Institutional Trading of Porch Group

Institutional investors have recently added to or reduced their stakes in the business. Aster Capital Management DIFC Ltd lifted its stake in Porch Group by 956.3% in the third quarter. Aster Capital Management DIFC Ltd now owns 1,521 shares of the company's stock valued at $26,000 after acquiring an additional 1,377 shares during the last quarter. Larson Financial Group LLC lifted its stake in Porch Group by 444.8% in the third quarter. Larson Financial Group LLC now owns 1,836 shares of the company's stock valued at $31,000 after acquiring an additional 1,499 shares during the last quarter. RiverPark Advisors LLC acquired a new stake in Porch Group in the third quarter valued at approximately $39,000. Osbon Capital Management LLC acquired a new stake in Porch Group in the fourth quarter valued at approximately $25,000. Finally, Kemnay Advisory Services Inc. acquired a new stake in Porch Group in the fourth quarter valued at approximately $38,000. 48.48% of the stock is currently owned by institutional investors and hedge funds.

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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