Matthew Neagle Sells 55,000 Shares of Porch Group (NASDAQ:PRCH) Stock

by · The Cerbat Gem

Porch Group, Inc. (NASDAQ:PRCH – Get Free Report) COO Matthew Neagle sold 55,000 shares of the business’s stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $18.69, for a total value of $1,027,950.00. Following the sale, the chief operating officer owned 999,784 shares of the company’s stock, valued at approximately $18,685,962.96. The trade was a 5.21% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Porch Group Stock Down 3.9%

Shares of Porch Group stock opened at $17.44 on Friday. Porch Group, Inc. has a 12 month low of $1.26 and a 12 month high of $19.22. The business has a fifty day simple moving average of $14.95 and a 200 day simple moving average of $10.53. The stock has a market cap of $2.14 billion, a PE ratio of 34.20 and a beta of 2.84.

Porch Group (NASDAQ:PRCH – Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The company reported $0.03 EPS for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.16. Porch Group had a negative return on equity of 41.71% and a net margin of 12.82%.The business had revenue of $119.30 million during the quarter, compared to analysts’ expectations of $98.06 million. Porch Group has set its FY 2025 guidance at EPS. Analysts expect that Porch Group, Inc. will post -0.63 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on PRCH shares. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $20.00 price objective on shares of Porch Group in a research note on Tuesday, September 2nd. The Goldman Sachs Group started coverage on Porch Group in a research note on Tuesday, September 2nd. They set a “buy” rating and a $21.00 price objective for the company. B. Riley started coverage on Porch Group in a research note on Tuesday, July 1st. They set a “buy” rating and a $15.00 price objective for the company. Oppenheimer boosted their target price on Porch Group from $14.00 to $17.00 and gave the company an “outperform” rating in a research note on Wednesday, August 6th. Finally, Benchmark boosted their target price on Porch Group from $17.00 to $21.00 and gave the company a “buy” rating in a research note on Wednesday. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $15.67.

Get Our Latest Report on Porch Group

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PRCH. Divisadero Street Capital Management LP acquired a new position in Porch Group in the second quarter valued at about $28,810,000. Hennessy Advisors Inc. acquired a new position in Porch Group in the second quarter valued at about $19,607,000. Monashee Investment Management LLC bought a new stake in shares of Porch Group in the first quarter valued at about $11,300,000. Driehaus Capital Management LLC lifted its holdings in shares of Porch Group by 84.6% in the first quarter. Driehaus Capital Management LLC now owns 3,208,312 shares of the company’s stock valued at $23,389,000 after purchasing an additional 1,470,580 shares in the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of Porch Group by 72.2% in the first quarter. Invesco Ltd. now owns 2,896,237 shares of the company’s stock valued at $21,114,000 after purchasing an additional 1,213,951 shares in the last quarter. 48.48% of the stock is owned by institutional investors and hedge funds.

Porch Group Company Profile

(Get Free Report)

Porch Group, Inc, together with its subsidiaries, operates a vertical software and insurance platform in the United States. The company operates in two segments, Vertical Software and Insurance. The Vertical Software segment provides software and services to inspection, mortgage, and title companies on a subscription and transactional basis, as well as move and post-move services.

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