Matthew Neagle Sells 59,983 Shares of Porch Group (NASDAQ:PRCH) Stock

Porch Group, Inc. (NASDAQ:PRCH) COO Matthew Neagle sold 59,983 shares of the company’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $10.34, for a total value of $620,224.22. Following the transaction, the chief operating officer owned 2,053,049 shares in the company, valued at $21,228,526.66. This trade represents a 2.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible 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 Tuesday, May 12th, Matthew Neagle sold 63,650 shares of Porch Group stock. The shares were sold at an average price of $10.52, for a total value of $669,598.00.
• On Friday, May 8th, Matthew Neagle sold 60,240 shares of Porch Group stock. The stock was sold at an average price of $11.12, for a total value of $669,868.80.
• On Tuesday, May 5th, Matthew Neagle sold 60,802 shares of Porch Group stock. The stock was sold at an average price of $10.43, for a total value of $634,164.86.
• On Friday, May 1st, Matthew Neagle sold 64,274 shares of Porch Group stock. The stock was sold at an average price of $9.79, for a total value of $629,242.46.
• 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 value 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 value 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 value of $509,944.12.
• On Friday, April 17th, Matthew Neagle sold 58,978 shares of Porch Group stock. The stock was sold at an average price of $7.87, for a total value of $464,156.86.
• 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.

Porch Group Stock Down 2.0%

PRCH traded down $0.20 during trading on Tuesday, reaching $9.77. The stock had a trading volume of 2,311,762 shares, compared to its average volume of 1,751,203. The stock’s 50 day moving average is $8.21 and its two-hundred day moving average is $8.91. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 14.87. The company has a market capitalization of $1.25 billion, a price-to-earnings ratio of -57.47 and a beta of 3.24. Porch Group, Inc. has a one year low of $6.36 and a one year high of $19.44.

Porch Group (NASDAQ:PRCH) last posted its quarterly earnings data on Tuesday, April 28th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.06. Porch Group had a negative return on equity of 115.59% and a negative net margin of 3.41%.The business had revenue of $109.44 million during the quarter, compared to the consensus estimate of $94.72 million. As a group, analysts expect that Porch Group, Inc. will post -0.04 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Stephens assumed coverage on Porch Group in a research report on Monday, May 4th. They set an “overweight” rating and a $12.00 price objective for the company. Benchmark raised their price objective on Porch Group from $21.00 to $22.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Zacks Research raised Porch Group from a “strong sell” rating to a “hold” rating in a research report on Friday, March 6th. Finally, Keefe, Bruyette & Woods raised Porch Group from a “market perform” rating to an “outperform” rating and reduced their price objective for the company from $13.00 to $10.50 in a research report on Wednesday, February 11th. Seven equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $17.21.

Institutional Trading of Porch Group

A number of institutional investors and hedge funds have recently modified their holdings of the business. Granahan Investment Management LLC increased its holdings in shares of Porch Group by 9.4% in the 1st quarter. Granahan Investment Management LLC now owns 12,674,987 shares of the company’s stock worth $90,880,000 after purchasing an additional 1,084,559 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Porch Group by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 7,314,207 shares of the company’s stock worth $66,779,000 after purchasing an additional 62,073 shares in the last quarter. Park West Asset Management LLC increased its holdings in shares of Porch Group by 131.3% in the 4th quarter. Park West Asset Management LLC now owns 5,050,000 shares of the company’s stock worth $46,106,000 after purchasing an additional 2,867,084 shares in the last quarter. GC Wealth Management RIA LLC bought a new stake in shares of Porch Group in the 1st quarter worth $29,230,000. Finally, Invesco Ltd. increased its holdings in shares of Porch Group by 448.4% in the 3rd quarter. Invesco Ltd. now owns 3,795,064 shares of the company’s stock worth $63,681,000 after purchasing an additional 3,103,018 shares in the last quarter. 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.