Porch Group (NASDAQ:PRCH) Stock: Insider Amanda Reierson Sells 7,418 Shares

by · The Markets Daily

Porch Group, Inc. (NASDAQ:PRCH – Get Free Report) Director Amanda Reierson sold 7,418 shares of the business’s stock in a transaction dated Tuesday, October 20th. The shares were sold at an average price of $17.98, for a total transaction of $133,375.64. Following the completion of the transaction, the director owned 113,261 shares in the company, valued at $2,036,432.78. The trade was a 6.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Porch Group Trading Down 3.5%

Shares of Porch Group stock traded down $0.65 during mid-day trading on Thursday, hitting $17.94. The stock had a trading volume of 1,684,561 shares, compared to its average volume of 1,716,046. The firm has a 50-day moving average of $17.06 and a two-hundred day moving average of $13.39. Porch Group, Inc. has a 12-month low of $6.36 and a 12-month high of $18.75. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 20.53. The firm has a market cap of $2.37 billion, a P/E ratio of -149.50 and a beta of 3.18.

Porch Group (NASDAQ:PRCH – Get Free Report) last announced its quarterly 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 business had revenue of $131.81 million during the quarter, compared to the consensus estimate of $122.30 million. Porch Group had a negative net margin of 2.67% and a negative return on equity of 68.47%. Sell-side analysts forecast that Porch Group, Inc. will post -0.04 earnings per share for the current year.

Institutional Trading of Porch Group

Several institutional investors have recently added to or reduced their stakes in PRCH. GAMMA Investing LLC raised its position in Porch Group by 6.6% in the third quarter. GAMMA Investing LLC now owns 12,503 shares of the company’s stock valued at $208,000 after purchasing an additional 778 shares during the period. Hsbc Holdings PLC grew 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 worth $587,000 after acquiring an additional 1,065 shares in the last quarter. Moody National Bank Trust Division grew 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 worth $9,909,000 after acquiring an additional 1,700 shares in the last quarter. State of Alaska Department of Revenue increased its position in shares of 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 acquiring an additional 1,981 shares during the period. Finally, Osbon Capital Management LLC purchased a new stake in shares of Porch Group during the second quarter worth $40,000. Institutional investors and hedge funds own 48.48% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. B. Riley Financial raised 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. Craig Hallum upped their price target on Porch Group from $20.00 to $22.00 and gave the company a “buy” rating in a research note on Wednesday, October 14th. Weiss Ratings raised Porch Group from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday. Keefe, Bruyette & Woods increased their price target on Porch Group from $16.25 to $16.50 and gave the stock a “market perform” rating in a report on Thursday, July 30th. Finally, Benchmark raised their price objective on Porch Group from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $19.64.

Read Our Latest Stock Report on Porch Group

Porch Group Company Profile

(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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