Porch Group (NASDAQ:PRCH) CEO Sells $867,244.95 in Stock

Porch Group, Inc. (NASDAQ:PRCH) CEO Matt Ehrlichman sold 121,293 shares of Porch Group stock in a transaction on Thursday, April 9th. The shares were sold at an average price of $7.15, for a total value of $867,244.95. Following the transaction, the chief executive officer owned 17,309,057 shares in the company, valued at $123,759,757.55. This trade represents a 0.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 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 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 value of $511,690.73.
• On Thursday, April 2nd, Matt Ehrlichman sold 6,988 shares of Porch Group stock. The stock was sold at an average price of $6.98, for a total value of $48,776.24.

Porch Group Stock Performance

Shares of NASDAQ PRCH traded down $0.26 during trading on Friday, hitting $6.76. The company had a trading volume of 1,081,102 shares, compared to its average volume of 1,526,479. Porch Group, Inc. has a 12 month low of $4.64 and a 12 month high of $19.44. The company has a debt-to-equity ratio of 17.20, a quick ratio of 1.30 and a current ratio of 1.30. The firm has a market capitalization of $841.35 million, a P/E ratio of -135.20 and a beta of 3.09. The stock has a 50 day simple moving average of $7.61 and a 200 day simple moving average of $10.26.

Porch Group (NASDAQ:PRCH) last announced its quarterly earnings data on Wednesday, February 11th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.05. The company had revenue of $112.25 million during the quarter, compared to the consensus estimate of $109.13 million. Porch Group had a negative return on equity of 51.86% and a negative net margin of 0.72%. As a group, analysts anticipate that Porch Group, Inc. will post -0.63 earnings per share for the current year.

Wall Street Analyst Weigh In

PRCH has been the subject of a number of analyst reports. Benchmark reissued a “buy” rating on shares of Porch Group in a research note on Friday, January 16th. Zacks Research raised shares of Porch Group from a “strong sell” rating to a “hold” rating in a report on Friday, March 6th. Keefe, Bruyette & Woods upgraded Porch Group from a “market perform” rating to an “outperform” rating and cut their price target for the stock from $13.00 to $10.50 in a research note on Wednesday, February 11th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Porch Group in a report on Monday, December 29th. Seven investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.21.

Key Porch Group News

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

• Positive Sentiment: Recent quarterly results still show positive momentum: Porch posted an EPS beat and revenue above estimates in its Feb quarter, which supports the company’s recovery narrative and underpins analyst bullishness. MarketBeat PRCH
• Neutral Sentiment: Analyst coverage remains mixed but tilted positive — MarketBeat shows a consensus “Moderate Buy” and a multi-analyst price-target gap (consensus ~ $17.21), which can support upside if execution continues. Analyst Coverage
• Neutral Sentiment: The report lists short-interest as zero with days-to-cover 0.0 — this appears to be a data anomaly and should not be read as meaningful market positioning without confirmation from an exchange/official short-interest file.
• Negative Sentiment: CEO Matt Ehrlichman sold 121,293 shares at an average ~$7.15 (4/9 filing) to cover tax withholding from vested awards; his stake still remains large. CEO Form 4
• Negative Sentiment: COO Matthew Neagle sold 62,827 shares at ~ $7.15 (4/9 filing); the company says these sales were to cover tax withholding on vested equity. COO Form 4
• Negative Sentiment: CFO Shawn Tabak reported multiple small sales (7,734 shares on 4/9 and 9,344 shares on 4/7) at roughly $7.15–$7.19 to cover tax withholding; these are routine but add selling pressure. CFO Form 4

Institutional Investors Weigh In On Porch Group

A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in Porch Group by 5.6% during the third quarter. Vanguard Group Inc. now owns 7,252,134 shares of the company’s stock valued at $121,691,000 after acquiring an additional 384,451 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Porch Group by 95.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 924,180 shares of the company’s stock valued at $15,508,000 after acquiring an additional 450,560 shares during the last quarter. G2 Investment Partners Management LLC boosted its holdings in shares of Porch Group by 28.4% during the 2nd quarter. G2 Investment Partners Management LLC now owns 1,229,183 shares of the company’s stock valued at $14,492,000 after purchasing an additional 271,561 shares during the last quarter. Harbor Capital Advisors Inc. boosted its holdings in shares of Porch Group by 68.9% during the 4th quarter. Harbor Capital Advisors Inc. now owns 388,299 shares of the company’s stock valued at $3,545,000 after purchasing an additional 158,368 shares during the last quarter. Finally, Algert Global LLC grew its position in shares of Porch Group by 2,254.1% during the third quarter. Algert Global LLC now owns 759,664 shares of the company’s stock valued at $12,747,000 after purchasing an additional 727,394 shares in the last quarter. 48.48% of the stock is owned by hedge funds and other institutional investors.

About Porch Group

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.