Porch Group (NASDAQ:PRCH) Stock: Insider Amanda Reierson Sells 5,000 Shares

Porch Group, Inc. (NASDAQ:PRCH) Director Amanda Reierson sold 5,000 shares of the stock in a transaction that occurred on Friday, October 16th. The shares were 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 in the company, valued at approximately $2,166,188.05. This trade represents a 3.98% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Porch Group Trading Up 2.3%

NASDAQ:PRCH opened at $18.59 on Thursday. Porch Group, Inc. has a 12 month low of $6.36 and a 12 month high of $18.75. The firm has a market cap of $2.45 billion, a price-to-earnings ratio of -154.92 and a beta of 3.18. 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 company’s 50 day moving average is $17.06 and its 200-day moving average is $13.39.

Porch Group (NASDAQ:PRCH) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $0.05 earnings per share 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 analysts’ expectations of $122.30 million. Porch Group had a negative net margin of 2.67% and a negative return on equity of 68.47%. Equities analysts anticipate that Porch Group, Inc. will post -0.04 EPS for the current year.

Institutional Investors Weigh In On Porch Group

Several hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC increased its stake in 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 acquiring an additional 778 shares during the period. Hsbc Holdings PLC lifted its position in shares of Porch Group by 2.8% in the 2nd quarter. Hsbc Holdings PLC now owns 39,370 shares of the company’s stock worth $587,000 after acquiring an additional 1,065 shares during the period. Moody National Bank Trust Division lifted its position in shares of Porch Group by 0.3% in the 2nd 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 during the period. State of Alaska Department of Revenue grew its holdings in shares of Porch Group by 5.1% during the 3rd quarter. State of Alaska Department of Revenue now owns 40,723 shares of the company’s stock worth $678,000 after purchasing an additional 1,981 shares in the last quarter. Finally, Osbon Capital Management LLC acquired a new stake in shares of Porch Group during the 2nd quarter worth approximately $40,000. Institutional investors own 48.48% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Benchmark boosted their target price on shares of Porch Group from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. B. Riley Financial upped their price target on shares of Porch Group from $21.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, October 14th. Zacks Research raised Porch Group from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 15th. Cantor Fitzgerald raised their price target on Porch Group from $18.00 to $20.00 and gave the company an “overweight” rating in a research report on Friday, September 25th. Finally, Texas Capital upgraded Porch Group to a “strong-buy” rating in a research note on Tuesday, September 22nd. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Porch Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $19.64.

Porch Group Company Profile

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.