Porch Group, Inc. (NASDAQ:PRCH - Get Free Report) COO Matthew Neagle sold 56,250 shares of the stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $20.88, for a total transaction of $1,174,500.00. Following the completion of the sale, the chief operating officer directly owned 1,736,756 shares in the company, valued at approximately $36,263,465.28. This represents a 3.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Matthew Neagle also recently made the following trade(s):
- On Tuesday, October 20th, Matthew Neagle sold 31,250 shares of Porch Group stock. The stock was sold at an average price of $18.01, for a total transaction of $562,812.50.
- On Friday, October 16th, Matthew Neagle sold 40,625 shares of Porch Group stock. The stock was sold at an average price of $17.56, for a total transaction of $713,375.00.
- On Tuesday, October 6th, Matthew Neagle sold 27,881 shares of Porch Group stock. The stock was sold at an average price of $17.35, for a total transaction of $483,735.35.
- On Monday, October 5th, Matthew Neagle sold 7,318 shares of Porch Group stock. The shares were sold at an average price of $16.83, for a total transaction of $123,161.94.
- On Thursday, October 1st, Matthew Neagle sold 40,625 shares of Porch Group stock. The stock was sold at an average price of $16.69, for a total transaction of $678,031.25.
- On Monday, September 14th, Matthew Neagle sold 50,000 shares of Porch Group stock. The stock was sold at an average price of $16.46, for a total transaction of $823,000.00.
Porch Group Stock Up 0.2%
Shares of NASDAQ PRCH opened at $21.56 on Thursday. The company has a debt-to-equity ratio of 13.21, a current ratio of 1.46 and a quick ratio of 1.46. The company has a market cap of $2.84 billion, a P/E ratio of 269.50 and a beta of 3.16. Porch Group, Inc. has a 1 year low of $6.36 and a 1 year high of $21.96. The firm has a 50-day simple moving average of $17.47 and a two-hundred day simple moving average of $12.20.
Porch Group (NASDAQ:PRCH - Get Free Report) last released its earnings results on Wednesday, October 28th. The company reported $0.10 EPS for the quarter, beating analysts' consensus estimates of $0.01 by $0.09. The firm had revenue of $143.86 million for the quarter, compared to analysts' expectations of $134.65 million. Porch Group had a return on equity of 39.28% and a net margin of 1.81%. Research analysts anticipate that Porch Group, Inc. will post -0.01 earnings per share for the current year.
Hedge Funds Weigh In On Porch Group
A number of institutional investors have recently modified their holdings of the stock. Pictet Asset Management Holding SA raised its stake in shares of Porch Group by 31.2% during the third quarter. Pictet Asset Management Holding SA now owns 14,315 shares of the company's stock valued at $238,000 after acquiring an additional 3,406 shares in the last quarter. Calamos Advisors LLC purchased a new stake in shares of Porch Group in the third quarter valued at approximately $378,000. Integrity Alliance LLC. purchased a new stake in shares of Porch Group in the third quarter valued at approximately $732,000. State of Wyoming grew its stake in Porch Group by 213.3% in the third quarter. State of Wyoming now owns 13,279 shares of the company's stock worth $221,000 after purchasing an additional 9,040 shares in the last quarter. Finally, State of Alaska Department of Revenue grew its stake in Porch Group by 5.1% in the third quarter. State of Alaska Department of Revenue now owns 40,723 shares of the company's stock worth $678,000 after purchasing an additional 1,981 shares in the last quarter. 48.48% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several equities analysts have commented on PRCH shares. Weiss Ratings raised Porch Group from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Wednesday, October 21st. Craig Hallum set a $25.00 target price on Porch Group in a research note on Thursday, October 29th. Keefe, Bruyette & Woods lifted their target price on Porch Group from $16.25 to $16.50 and gave the stock a "market perform" rating in a research report on Thursday, July 30th. Wall Street Zen raised shares of Porch Group from a "hold" rating to a "buy" rating in a research note on Saturday, October 31st. Finally, Oppenheimer upped their price target on shares of Porch Group from $20.00 to $25.00 and gave the stock an "outperform" rating in a report on Thursday, October 29th. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, Porch Group presently has an average rating of "Buy" and a consensus target price of $20.79.
Check Out Our Latest Stock Analysis on Porch Group
About Porch Group
(
Get Free Report)
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.
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