Matthew Neagle Sells 62,344 Shares of Porch Group (NASDAQ:PRCH) Stock

by · The Cerbat Gem

Porch Group, Inc. (NASDAQ:PRCH – Get Free Report) COO Matthew Neagle sold 62,344 shares of the stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $9.78, for a total transaction of $609,724.32. Following the sale, the chief operating officer directly owned 1,990,705 shares in the company, valued at approximately $19,469,094.90. The trade was a 3.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 Friday, May 15th, Matthew Neagle sold 59,983 shares of Porch Group stock. The shares were sold at an average price of $10.34, for a total value of $620,224.22.
  • 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 shares were 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 shares were 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 shares were 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 shares were 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 shares were sold at an average price of $7.68, for a total transaction of $491,358.72.
  • On Tuesday, April 21st, Matthew Neagle sold 62,801 shares of Porch Group stock. The shares were sold at an average price of $8.12, for a total transaction of $509,944.12.
  • On Friday, April 17th, Matthew Neagle sold 58,978 shares of Porch Group stock. The shares were sold at an average price of $7.87, for a total transaction of $464,156.86.
  • On Tuesday, April 14th, Matthew Neagle sold 83,599 shares of Porch Group stock. The shares were sold at an average price of $6.84, for a total transaction of $571,817.16.

Porch Group Stock Performance

PRCH remained flat at $9.74 during midday trading on Thursday. 1,190,169 shares of the company’s stock traded hands, compared to its average volume of 1,741,063. The company has a debt-to-equity ratio of 14.87, a current ratio of 1.28 and a quick ratio of 1.28. The stock has a market cap of $1.24 billion, a P/E ratio of -57.29 and a beta of 3.24. Porch Group, Inc. has a fifty-two week low of $6.36 and a fifty-two week high of $19.44. The stock’s 50-day moving average price is $8.29 and its 200 day moving average price is $8.83.

Porch Group (NASDAQ:PRCH – Get Free Report) last posted its quarterly earnings data on Tuesday, April 28th. The company reported ($0.04) EPS for the quarter, topping the consensus estimate 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 company had revenue of $109.44 million during the quarter, compared to analyst estimates of $94.72 million. Equities research analysts anticipate that Porch Group, Inc. will post -0.04 earnings per share for the current year.

Institutional Trading of Porch Group

Several large investors have recently bought and sold shares of PRCH. JPMorgan Chase & Co. lifted its position in Porch Group by 95.1% during the third quarter. JPMorgan Chase & Co. now owns 924,180 shares of the company’s stock worth $15,508,000 after buying an additional 450,560 shares in the last quarter. Vanguard Group Inc. lifted its position in Porch Group by 5.6% during the third quarter. Vanguard Group Inc. now owns 7,252,134 shares of the company’s stock worth $121,691,000 after buying an additional 384,451 shares in the last quarter. Harbor Capital Advisors Inc. lifted its position in Porch Group by 68.9% during the fourth quarter. Harbor Capital Advisors Inc. now owns 388,299 shares of the company’s stock worth $3,545,000 after buying an additional 158,368 shares in the last quarter. Tudor Investment Corp ET AL lifted its position in Porch Group by 1,897.9% during the third quarter. Tudor Investment Corp ET AL now owns 255,511 shares of the company’s stock worth $4,287,000 after buying an additional 242,722 shares in the last quarter. Finally, Algert Global LLC lifted its position in Porch Group by 2,254.1% during the third quarter. Algert Global LLC now owns 759,664 shares of the company’s stock worth $12,747,000 after buying an additional 727,394 shares in the last quarter. Hedge funds and other institutional investors own 48.48% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Benchmark boosted their price objective on Porch Group from $21.00 to $22.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Zacks Research upgraded Porch Group from a “strong sell” rating to a “hold” rating in a report on Friday, March 6th. Stephens assumed coverage on Porch Group in a report on Monday, May 4th. They issued an “overweight” rating and a $12.00 price objective on the stock. Finally, Keefe, Bruyette & Woods upgraded Porch Group from a “market perform” rating to an “outperform” rating and decreased their price objective for the company from $13.00 to $10.50 in a report on Wednesday, February 11th. Seven investment 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, Porch Group has a consensus rating of “Moderate Buy” and a consensus target price of $17.21.

Read Our Latest Analysis on Porch Group

About Porch Group

(Get Free Report)

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.

Further Reading