Porch Group (NASDAQ:PRCH) Director Amanda Reierson Sells 5,000 Shares of Stock

Porch Group, Inc. (NASDAQ:PRCH) Director Amanda Reierson sold 5,000 shares of Porch Group stock in a transaction on Friday, October 16th. The stock was sold at an average price of $17.95, for a total transaction of $89,750.00. Following the transaction, the director directly owned 120,679 shares of the company’s stock, valued at approximately $2,166,188.05. This trade represents a 3.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Porch Group Price Performance

NASDAQ:PRCH opened at $18.18 on Wednesday. The company has a market cap of $2.40 billion, a P/E ratio of -151.50 and a beta of 3.18. The firm’s fifty day moving average price is $17.01 and its two-hundred day moving average price is $13.32. Porch Group, Inc. has a one year low of $6.36 and a one year high of $18.41. The company has a debt-to-equity ratio of 20.53, a current ratio of 1.45 and a quick ratio of 1.45.

Porch Group (NASDAQ:PRCH) last posted its earnings results on Wednesday, July 29th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.08. The company had revenue of $131.81 million during 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%. Equities analysts expect that Porch Group, Inc. will post -0.04 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Benchmark raised their price objective on shares of Porch Group from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Cantor Fitzgerald boosted their price objective on Porch Group from $18.00 to $20.00 and gave the stock an “overweight” rating in a report on Friday, September 25th. Weiss Ratings raised Porch Group from a “sell (d-)” rating to a “sell (d+)” rating in a research report on Thursday, July 30th. B. Riley Financial increased their target price on Porch Group from $21.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday, October 14th. Finally, Craig Hallum upped their price objective on Porch Group from $20.00 to $22.00 and gave the company a “buy” rating in a report on Wednesday, October 14th. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $19.64.

Institutional Investors Weigh In On Porch Group

A number of hedge funds and other institutional investors have recently made changes to their positions in PRCH. Osbon Capital Management LLC acquired a new stake in shares of Porch Group during the 2nd quarter worth $40,000. State of Wyoming bought a new position in shares of Porch Group in the second quarter worth $64,000. PNC Financial Services Group Inc. increased its position in shares of Porch Group by 697.8% in the first quarter. PNC Financial Services Group Inc. now owns 9,390 shares of the company’s stock worth $67,000 after purchasing an additional 8,213 shares during the period. Cetera Investment Advisers acquired a new position in Porch Group in the first quarter valued at about $74,000. Finally, Persistent Asset Partners Ltd acquired a new position in Porch Group in the second quarter valued at about $103,000. 48.48% of the stock is currently owned by institutional investors and hedge funds.

Porch Group Company Profile

Porch Group, Inc is a technology company that provides software and services for the residential home services industry. Its platform is designed to help businesses manage customer relationships, scheduling, communications, payments, marketing and other operational workflows.

The company serves professionals involved in the home-buying and home-maintenance ecosystem, including home inspection companies and other service providers. Its offerings have included specialized software platforms such as Inspection Support Network and Floify, which support inspection management and mortgage-related workflows, respectively.

Founded in 2012 by Matt Ehrlichman, Porch initially operated as a consumer-focused home improvement marketplace before expanding into vertical software and related services.