Porch Group (NASDAQ:PRCH) CEO Matt Ehrlichman Sells 194,763 Shares of Stock

Porch Group, Inc. (NASDAQ:PRCH) CEO Matt Ehrlichman sold 194,763 shares of the firm’s stock in a transaction dated Thursday, November 5th. The shares were sold at an average price of $20.40, for a total value of $3,973,165.20. Following the transaction, the chief executive officer owned 15,445,242 shares of the company’s stock, valued at approximately $315,082,936.80. The trade was a 1.25% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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 stock was sold at an average price of $20.17, for a total transaction of $392,346.84.
• On Wednesday, November 4th, Matt Ehrlichman sold 251,740 shares of Porch Group stock. The stock was 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 value 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 value of $453,442.25.
• On Monday, October 5th, Matt Ehrlichman sold 14,946 shares of Porch Group stock. The stock was sold at an average price of $16.84, for a total value of $251,690.64.

Porch Group Stock Performance

PRCH opened at $19.73 on Friday. The business has a 50 day moving average of $17.57 and a 200-day moving average of $12.32. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 13.21. Porch Group, Inc. has a 12-month low of $6.36 and a 12-month high of $21.96. The stock has a market cap of $2.60 billion, a price-to-earnings ratio of 246.62 and a beta of 3.16.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on PRCH shares. Oppenheimer upped their target price on shares of Porch Group from $20.00 to $25.00 and gave the company an “outperform” rating in a report on Thursday, October 29th. Weiss Ratings raised shares of Porch Group from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, October 21st. Benchmark upped their price target on Porch Group from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Zacks Research upgraded shares of Porch Group from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 15th. Finally, Cantor Fitzgerald upped their target price on Porch Group from $18.00 to $20.00 and gave the company an “overweight” rating in a report on Friday, September 25th. Two 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 MarketBeat.com, Porch Group presently has a consensus rating of “Buy” and an average target price of $20.79.

Porch Group News Roundup

Here are the key news stories impacting Porch Group this week:

• Positive Sentiment: A bullish investment commentary says Porch’s homeowner relationships and property data could support growth in insurance-related fee income. It points to the planned Allied Trust acquisition as a potential source of additional customers and distribution relationships. Porch Group: Home Insurance Growth Story
• Negative Sentiment: CEO Matt Ehrlichman sold 465,955 shares in transactions from November 4–6, while COO Matthew Neagle sold 56,250 shares and Director Alan Pickerill sold 10,000 shares. Repeated sales by senior leaders may weigh on investor sentiment. The CEO’s and COO’s trades were made under pre-arranged Rule 10b5-1 plans, and Ehrlichman still owns more than 15.4 million shares, which may temper the signal. CEO SEC filing COO sale report Director sale report

Institutional Trading of Porch Group

A number of institutional investors have recently bought and sold shares of PRCH. Russell Investments Group Ltd. lifted its holdings in Porch Group by 122.3% in the third quarter. Russell Investments Group Ltd. now owns 605,152 shares of the company’s stock worth $10,082,000 after acquiring an additional 332,985 shares during the last quarter. Fifth Third Bancorp boosted its holdings in Porch Group by 83.9% during the third quarter. Fifth Third Bancorp now owns 242,189 shares of the company’s stock worth $4,035,000 after buying an additional 110,493 shares during the last quarter. Jefferies Financial Group Inc. boosted its position in Porch Group by 319.3% during the 3rd quarter. Jefferies Financial Group Inc. now owns 113,448 shares of the company’s stock worth $1,890,000 after acquiring an additional 86,394 shares during the last quarter. Pictet Asset Management Holding SA boosted its position in Porch Group by 31.2% during the third quarter. Pictet Asset Management Holding SA now owns 14,315 shares of the company’s stock worth $238,000 after purchasing an additional 3,406 shares during the period. Finally, Calamos Advisors LLC bought a new position in Porch Group in the 3rd quarter valued at about $378,000. 48.48% of the stock is currently owned by hedge funds and other institutional investors.

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.