Porch Group (NASDAQ:PRCH) CEO Matt Ehrlichman Sells 122,881 Shares

Porch Group, Inc. (NASDAQ:PRCH) CEO Matt Ehrlichman sold 122,881 shares of Porch Group stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $10.52, for a total transaction of $1,292,708.12. Following the completion of the sale, the chief executive officer owned 16,208,253 shares in the company, valued at $170,510,821.56. The trade was a 0.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Matt Ehrlichman also recently made the following trade(s):

• On Friday, May 8th, Matt Ehrlichman sold 116,303 shares of Porch Group stock. The shares were sold at an average price of $11.12, for a total value of $1,293,289.36.
• On Tuesday, May 5th, Matt Ehrlichman sold 117,385 shares of Porch Group stock. The stock was sold at an average price of $10.43, for a total transaction of $1,224,325.55.
• On Friday, May 1st, Matt Ehrlichman sold 124,089 shares of Porch Group stock. The shares were sold at an average price of $9.79, for a total transaction of $1,214,831.31.
• On Tuesday, April 28th, Matt Ehrlichman sold 115,642 shares of Porch Group stock. The shares were sold at an average price of $8.11, for a total value of $937,856.62.
• On Friday, April 24th, Matt Ehrlichman sold 123,518 shares of Porch Group stock. The shares were sold at an average price of $7.68, for a total value of $948,618.24.
• On Tuesday, April 21st, Matt Ehrlichman sold 121,242 shares of Porch Group stock. The stock was sold at an average price of $8.12, for a total transaction of $984,485.04.
• On Friday, April 17th, Matt Ehrlichman sold 113,862 shares of Porch Group stock. The stock was sold at an average price of $7.87, for a total transaction of $896,093.94.
• On Tuesday, April 14th, Matt Ehrlichman sold 145,882 shares of Porch Group stock. The shares were sold at an average price of $6.84, for a total value of $997,832.88.
• On Thursday, April 9th, Matt Ehrlichman sold 121,293 shares of Porch Group stock. The shares were sold at an average price of $7.15, for a total transaction of $867,244.95.
• On Tuesday, April 7th, Matt Ehrlichman sold 71,167 shares of Porch Group stock. The shares were sold at an average price of $7.19, for a total transaction of $511,690.73.

Porch Group Price Performance

NASDAQ:PRCH traded up $0.19 during trading hours on Thursday, reaching $10.43. 1,180,007 shares of the company were exchanged, compared to its average volume of 1,725,102. The business has a 50 day moving average of $8.09 and a 200 day moving average of $9.03. Porch Group, Inc. has a 1-year low of $6.36 and a 1-year high of $19.44. The company has a debt-to-equity ratio of 14.87, a current ratio of 1.28 and a quick ratio of 1.28. The company has a market capitalization of $1.33 billion, a P/E ratio of -61.35 and a beta of 3.24.

Porch Group (NASDAQ:PRCH) last issued its earnings results on Tuesday, April 28th. The company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.10) by $0.06. Porch Group had a negative net margin of 3.41% and a negative return on equity of 115.59%. The company had revenue of $109.44 million during the quarter, compared to analysts’ expectations of $94.72 million. Research analysts forecast that Porch Group, Inc. will post -0.04 EPS for the current year.

Analyst Ratings Changes

PRCH has been the subject of several recent research reports. Keefe, Bruyette & Woods raised Porch Group from a “market perform” rating to an “outperform” rating and lowered their price objective for the company from $13.00 to $10.50 in a research note on Wednesday, February 11th. Stephens began coverage on shares of Porch Group in a report on Monday, May 4th. They set an “overweight” rating and a $12.00 target price on the stock. Zacks Research upgraded shares of Porch Group from a “strong sell” rating to a “hold” rating in a research report on Friday, March 6th. Finally, Benchmark raised their price target on shares of Porch Group from $21.00 to $22.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Seven research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $17.21.

Institutional Trading of Porch Group

Several large investors have recently modified their holdings of the stock. GC Wealth Management RIA LLC acquired a new position in shares of Porch Group during the first quarter valued at about $29,230,000. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Porch Group in the 1st quarter valued at about $1,015,000. Globeflex Capital L P bought a new stake in Porch Group in the 1st quarter valued at about $2,455,000. Cetera Investment Advisers bought a new stake in Porch Group in the 1st quarter valued at about $74,000. Finally, PNC Financial Services Group Inc. raised its stake in Porch Group by 697.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 9,390 shares of the company’s stock worth $67,000 after buying an additional 8,213 shares during the period. Institutional investors and hedge funds own 48.48% of the company’s stock.

Porch Group Company Profile

Porch Group, Inc operates a technology-driven home services platform designed to connect homeowners with professional contractors, maintenance providers and home improvement specialists. Through its online marketplace and proprietary software solutions, Porch enables users to research, compare and book services ranging from home repairs and remodeling to maintenance and renovations. The company’s platform integrates detailed provider profiles, customer reviews and real-time appointment scheduling to streamline the process of sourcing and managing home projects.

In addition to its core marketplace, Porch offers software products tailored for service professionals.