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SEATTLE—Matthew Neagle, Chief Operating Officer of Porch Group, Inc. (NASDAQ:PRCH), recently sold a significant portion of his holdings in the company. According to a recent SEC filing, Neagle sold 60,000 shares of Porch Group common stock on March 17, 2025. The shares were sold at a weighted average price of $6.2385, bringing the total transaction value to approximately $374,310. The transaction comes as the stock has shown remarkable strength, with InvestingPro data showing a 283% surge over the past six months.
This sale was conducted under a Rule 10b5-1 trading plan, which Neagle entered on December 14, 2024. The plan allows for the sale of up to 500,000 shares and is set to terminate on December 31, 2025. Following this transaction, Neagle retains ownership of 1,384,057 shares of Porch Group, representing a significant stake in the company, which currently has a market capitalization of $754.6 million.
The shares were sold in multiple transactions, with prices ranging from $5.91 to $6.42 per share. Neagle has committed to providing detailed information on the number of shares sold at each price to the company, its shareholders, or the SEC upon request. For investors seeking deeper insights into PRCH’s valuation and performance metrics, InvestingPro offers comprehensive analysis through its Pro Research Report, featuring detailed financial health scores and growth indicators among 1,400+ top stocks.
In other recent news, Porch Group Inc. reported its fourth-quarter earnings, revealing an adjusted EBITDA of $42 million, which exceeded expectations from both analysts and the consensus estimate of $33 million. However, the company fell short of revenue expectations, reporting $100.4 million compared to the forecasted $110.26 million. Despite this revenue miss, Porch Group has raised its financial guidance for 2025 and reaffirmed its targets for 2026 and beyond, indicating confidence in its strategic direction. Keefe, Bruyette & Woods has increased its price target for Porch Group to $6.00, up from $3.50, while maintaining a Market Perform rating, reflecting a cautious but optimistic outlook.
Similarly, Benchmark raised its price target to $10.00 from $7.00, maintaining a Buy rating, citing confidence in the company’s leadership and transformation strategy. Loop Capital also upgraded the stock from "Hold" to "Buy," noting the company’s strong profitability metrics, including an 86% gross profit margin and a 42% EBITDA margin. Porch Group’s recent transition to a Reciprocal Exchange insurance model is seen as a strategic move to enhance financial stability and improve profit margins. Analysts have highlighted the potential for significant growth in the company’s insurance segment, with the expectation of reaching $500 million in gross written premium by 2025. These developments suggest that Porch Group is strategically positioning itself for future growth, despite the challenges faced in the recent quarter.
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