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

by · The Cerbat Gem

Porch Group, Inc. (NASDAQ:PRCH – Get Free Report) Director Amanda Reierson sold 5,000 shares of the business’s stock in a transaction on Friday, October 16th. The stock was sold at an average price of $17.95, for a total value of $89,750.00. Following the transaction, the director owned 120,679 shares of the company’s stock, valued at $2,166,188.05. This trade represents a 3.98% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Porch Group Stock Performance

Shares of NASDAQ:PRCH traded up $0.53 on Tuesday, hitting $18.18. The company’s stock had a trading volume of 2,317,940 shares, compared to its average volume of 1,712,104. The company has a market capitalization of $2.40 billion, a price-to-earnings ratio of -151.50 and a beta of 3.18. The company has a debt-to-equity ratio of 20.53, a quick ratio of 1.45 and a current ratio of 1.45. Porch Group, Inc. has a 12 month low of $6.36 and a 12 month high of $18.41. The stock’s 50-day moving average is $16.96 and its two-hundred day moving average is $13.24.

Porch Group (NASDAQ:PRCH – Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.08. Porch Group had a negative net margin of 2.67% and a negative return on equity of 68.47%. The business had revenue of $131.81 million for the quarter, compared to analysts’ expectations of $122.30 million. On average, equities research analysts forecast that Porch Group, Inc. will post -0.04 EPS for the current year.

Hedge Funds Weigh In On Porch Group

Several institutional investors and hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC raised its position in shares of Porch Group by 6.6% during the third quarter. GAMMA Investing LLC now owns 12,503 shares of the company’s stock valued at $208,000 after buying an additional 778 shares during the last quarter. Hsbc Holdings PLC lifted its stake in shares of Porch Group by 2.8% in the second quarter. Hsbc Holdings PLC now owns 39,370 shares of the company’s stock valued at $587,000 after buying an additional 1,065 shares during the period. Moody National Bank Trust Division lifted its stake in shares of Porch Group by 0.3% in the second quarter. Moody National Bank Trust Division now owns 658,852 shares of the company’s stock valued at $9,909,000 after buying an additional 1,700 shares during the period. State of Alaska Department of Revenue grew its position in Porch Group by 5.1% during the third quarter. State of Alaska Department of Revenue now owns 40,723 shares of the company’s stock worth $678,000 after buying an additional 1,981 shares in the last quarter. Finally, Osbon Capital Management LLC acquired a new stake in Porch Group during the second quarter worth about $40,000. Hedge funds and other institutional investors own 48.48% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Benchmark lifted their price target on Porch Group from $22.00 to $23.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Weiss Ratings upgraded Porch Group from a “sell (d-)” rating to a “sell (d+)” rating in a report on Thursday, July 30th. Cantor Fitzgerald raised their target price on Porch Group from $18.00 to $20.00 and gave the company an “overweight” rating in a research note on Friday, September 25th. Texas Capital raised Porch Group to a “strong-buy” rating in a report on Tuesday, September 22nd. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Porch Group from $16.25 to $16.50 and gave the stock a “market perform” rating in a research report on Thursday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $19.64.

View Our Latest Stock Report 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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