Porch Group (NASDAQ:PRCH) Stock: Insider Matt Ehrlichman Sells 109,043 Shares

Porch Group, Inc. (NASDAQ:PRCH) CEO Matt Ehrlichman sold 109,043 shares of the company’s stock in a transaction that occurred on Monday, November 9th. The stock was sold at an average price of $20.15, for a total value of $2,197,216.45. Following the sale, the chief executive officer directly owned 15,316,747 shares in the company, valued at $308,632,452.05. This trade represents a 0.71% decrease in their ownership of the stock. The sale was disclosed in a 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.

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

• On Friday, November 6th, Matt Ehrlichman sold 19,452 shares of Porch Group stock. The shares were sold at an average price of $20.17, for a total transaction of $392,346.84.
• On Thursday, November 5th, Matt Ehrlichman sold 194,763 shares of Porch Group stock. The stock was sold at an average price of $20.40, for a total transaction of $3,973,165.20.
• On Wednesday, November 4th, Matt Ehrlichman sold 251,740 shares of Porch Group stock. The shares were sold at an average price of $21.58, for a total transaction of $5,432,549.20.
• On Tuesday, November 3rd, Matt Ehrlichman sold 10,000 shares of Porch Group stock. The shares were sold at an average price of $21.51, for a total transaction of $215,100.00.
• On Tuesday, October 6th, Matt Ehrlichman sold 26,135 shares of Porch Group stock. The shares were sold at an average price of $17.35, for a total transaction of $453,442.25.
• On Monday, October 5th, Matt Ehrlichman sold 14,946 shares of Porch Group stock. The shares were sold at an average price of $16.84, for a total transaction of $251,690.64.

Porch Group Stock Performance

Shares of NASDAQ:PRCH opened at $22.14 on Thursday. The firm has a fifty day simple moving average of $17.83 and a two-hundred day simple moving average of $12.52. Porch Group, Inc. has a 52 week low of $6.36 and a 52 week high of $22.36. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 13.21. The stock has a market capitalization of $2.94 billion, a P/E ratio of 276.75 and a beta of 3.16.

Porch Group (NASDAQ:PRCH) last announced its earnings results on Wednesday, October 28th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.09. The firm had revenue of $143.86 million for the quarter, compared to analysts’ expectations of $134.65 million. Porch Group had a net margin of 1.81% and a return on equity of 39.28%. On average, analysts expect that Porch Group, Inc. will post -0.01 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently commented on PRCH. Benchmark lifted their price target 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. Zacks Research raised shares of Porch Group from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 15th. Weiss Ratings raised shares of Porch Group from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, October 21st. Keefe, Bruyette & Woods upped their target price on Porch Group from $16.25 to $16.50 and gave the company a “market perform” rating in a research note on Thursday, July 30th. Finally, Wall Street Zen raised Porch Group from a “hold” rating to a “buy” rating in a research note on Saturday, October 31st. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Porch Group presently has a consensus rating of “Buy” and an average target price of $20.79.

Institutional Trading of Porch Group

Institutional investors have recently made changes to their positions in the business. Boston Partners grew its stake in shares of Porch Group by 243.6% during the 3rd quarter. Boston Partners now owns 162,077 shares of the company’s stock worth $2,700,000 after purchasing an additional 114,902 shares during the period. Russell Investments Group Ltd. grew its position in shares of Porch Group by 122.3% during the 3rd quarter. Russell Investments Group Ltd. now owns 605,152 shares of the company’s stock valued at $10,082,000 after acquiring an additional 332,985 shares during the period. Fifth Third Bancorp grew its position in shares of Porch Group by 83.9% during the 3rd quarter. Fifth Third Bancorp now owns 242,189 shares of the company’s stock valued at $4,035,000 after acquiring an additional 110,493 shares during the period. Jefferies Financial Group Inc. increased its stake in shares of Porch Group by 319.3% in the 3rd quarter. Jefferies Financial Group Inc. now owns 113,448 shares of the company’s stock valued at $1,890,000 after purchasing an additional 86,394 shares in the last quarter. Finally, Pictet Asset Management Holding SA increased its stake in shares of Porch Group by 31.2% in the 3rd quarter. Pictet Asset Management Holding SA now owns 14,315 shares of the company’s stock valued at $238,000 after purchasing an additional 3,406 shares in the last quarter. Institutional investors and hedge funds own 48.48% of the company’s stock.

Porch Group Company Profile

Porch Group, Inc. is a technology company that provides software and services for the homeownership market. Its platform serves home-service professionals and related businesses, including home inspectors, and offers tools for managing operations, customer relationships, scheduling and business growth. The company also provides insurance products and services for homeowners and works with real estate and mortgage professionals. Its offerings include software for home inspectors and mortgage companies, alongside insurance capabilities that support customers through the homebuying and homeownership process.