Porch Group (NASDAQ:PRCH) Director Sells $152,592.95 in Stock

Porch Group, Inc. (NASDAQ:PRCH) Director Amanda Reierson sold 8,501 shares of the business’s stock in a transaction that occurred on Tuesday, October 6th. The stock was sold at an average price of $17.95, for a total value of $152,592.95. Following the transaction, the director directly owned 125,679 shares in the company, valued at $2,255,938.05. This trade represents a 6.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Porch Group Stock Up 0.2%

Shares of NASDAQ:PRCH opened at $17.56 on Friday. The company has a market capitalization of $2.31 billion, a price-to-earnings ratio of -146.33 and a beta of 3.18. The company has a 50 day moving average of $16.78 and a two-hundred day moving average of $12.77. Porch Group, Inc. has a 52-week low of $6.36 and a 52-week high of $18.37. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 20.53.

Porch Group (NASDAQ:PRCH) last posted its earnings results on Wednesday, July 29th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.08. The business had revenue of $131.81 million for the quarter, compared to analysts’ expectations of $122.30 million. Porch Group had a negative net margin of 2.67% and a negative return on equity of 68.47%. As a group, analysts forecast that Porch Group, Inc. will post -0.09 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Texas Capital raised shares of Porch Group to a “strong-buy” rating in a research report on Tuesday, September 22nd. Weiss Ratings upgraded Porch Group from a “sell (d-)” rating to a “sell (d+)” rating in a research note on Thursday, July 30th. Benchmark increased their price target on Porch Group from $22.00 to $23.00 and gave the company a “buy” rating in a report on Thursday, July 30th. B. Riley Financial raised their price objective on Porch Group from $19.00 to $21.00 and gave the company a “buy” rating in a research note on Monday, August 3rd. Finally, Keefe, Bruyette & Woods lifted their price objective on Porch Group from $16.25 to $16.50 and gave the stock a “market perform” rating in a report on Thursday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Porch Group currently has an average rating of “Moderate Buy” and a consensus target price of $18.75.

Institutional Investors Weigh In On Porch Group

A number of institutional investors have recently modified their holdings of the stock. Osbon Capital Management LLC acquired a new position in Porch Group in the fourth quarter worth about $25,000. State of Wyoming acquired a new stake in Porch Group during the second quarter valued at approximately $64,000. Persistent Asset Partners Ltd acquired a new stake in Porch Group during the second quarter valued at approximately $103,000. Integrated Wealth Concepts LLC bought a new position in Porch Group during the 2nd quarter worth approximately $138,000. Finally, PNC Financial Services Group Inc. lifted its holdings in Porch Group by 697.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 9,390 shares of the company’s stock worth $67,000 after buying an additional 8,213 shares during the last quarter. Institutional investors and hedge funds own 48.48% of the company’s stock.

Porch Group Company Profile

Porch Group, Inc is a vertical software company focused on the home services industry. Through its technology platforms and related services, the company helps home-service businesses manage operations, attract customers, improve workflow efficiency and support transactions connected with buying, selling, maintaining and moving into homes.

Porch Group’s products and services have included customer relationship management, marketing and lead-generation tools, payments, workflow software and other business solutions for contractors and home-service professionals.