62,603 Porch Group, Inc. $PRCH Shares Sold by Moody National Bank Trust Division

Moody National Bank Trust Division reduced its holdings in Porch Group, Inc. (NASDAQ:PRCH) by 9.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 596,249 shares of the company’s stock after selling 62,603 shares during the period. Porch Group makes up about 0.7% of Moody National Bank Trust Division’s investment portfolio, making the stock its 20th biggest position. Moody National Bank Trust Division’s holdings in Porch Group were worth $9,934,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PRCH. Integrated Wealth Concepts LLC bought a new stake in shares of Porch Group during the 2nd quarter valued at $138,000. NewEdge Advisors LLC bought a new position in shares of Porch Group in the 2nd quarter worth $198,000. Corient Private Wealth LP boosted its position in shares of Porch Group by 550.4% in the 2nd quarter. Corient Private Wealth LP now owns 71,151 shares of the company’s stock worth $1,070,000 after purchasing an additional 60,212 shares during the last quarter. Concurrent Investment Advisors LLC increased its holdings in Porch Group by 10.2% in the second quarter. Concurrent Investment Advisors LLC now owns 116,674 shares of the company’s stock valued at $1,755,000 after purchasing an additional 10,812 shares during the last quarter. Finally, Hsbc Holdings PLC increased its holdings in 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 purchasing an additional 1,065 shares during the last quarter. 48.48% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

PRCH has been the topic of a number of recent analyst reports. Texas Capital upgraded Porch Group to a “strong-buy” rating in a report on Tuesday, September 22nd. Benchmark lifted their price objective on shares of Porch Group from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Keefe, Bruyette & Woods boosted their price objective on shares of Porch Group from $16.25 to $16.50 and gave the company a “market perform” rating in a report on Thursday, July 30th. Weiss Ratings raised shares of Porch Group from a “sell (d-)” rating to a “sell (d+)” rating in a research note on Thursday, July 30th. Finally, Cantor Fitzgerald increased their target price on shares of Porch Group from $18.00 to $20.00 and gave the stock an “overweight” rating in a report on Friday, September 25th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $18.75.

Porch Group Stock Down 1.0%

Shares of NASDAQ PRCH traded down $0.18 during mid-day trading on Tuesday, reaching $17.17. 1,590,823 shares of the company’s stock were exchanged, compared to its average volume of 1,712,542. Porch Group, Inc. has a twelve month low of $6.36 and a twelve month high of $18.37. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 20.53. The firm has a market capitalization of $2.26 billion, a price-to-earnings ratio of -143.08 and a beta of 3.18. The business has a fifty day simple moving average of $16.47 and a 200 day simple moving average of $12.53.

Porch Group (NASDAQ:PRCH) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.08. The business had revenue of $131.81 million during the quarter, compared to analyst estimates of $122.30 million. Porch Group had a negative return on equity of 68.47% and a negative net margin of 2.67%. As a group, equities analysts expect that Porch Group, Inc. will post -0.09 EPS for the current fiscal year.

Insider Buying and Selling at Porch Group

In other news, COO Matthew Neagle sold 40,625 shares of the business’s stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $16.69, for a total value of $678,031.25. Following the sale, the chief operating officer owned 1,900,080 shares of the company’s stock, valued at $31,712,335.20. The trade was a 2.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Shawn Tabak sold 25,000 shares of the stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $16.21, for a total transaction of $405,250.00. Following the transaction, the chief financial officer owned 215,495 shares of the company’s stock, valued at $3,493,173.95. The trade was a 10.40% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 148,760 shares of company stock valued at $2,451,683 in the last 90 days. 27.78% of the stock is currently owned by company insiders.

Porch Group Company Profile

Porch Group, Inc is a vertical software company focused on the home services industry. Through its technology platforms and related services, the company helps home-service businesses manage operations, attract customers, improve workflow efficiency and support transactions connected with buying, selling, maintaining and moving into homes.

Porch Group’s products and services have included customer relationship management, marketing and lead-generation tools, payments, workflow software and other business solutions for contractors and home-service professionals.