Porch Group (NASDAQ:PRCH) CEO Matt Ehrlichman Sells 121,242 Shares

Porch Group, Inc. (NASDAQ:PRCH) CEO Matt Ehrlichman sold 121,242 shares of Porch Group stock in a transaction on Tuesday, April 21st. The shares were sold at an average price of $8.12, for a total transaction of $984,485.04. Following the transaction, the chief executive officer owned 16,928,071 shares in the company, valued at $137,455,936.52. The trade was a 0.71% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible 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 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 value of $896,093.94.
• On Tuesday, April 14th, Matt Ehrlichman sold 145,882 shares of Porch Group stock. The stock was 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.
• 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 transaction of $48,776.24.

Porch Group Stock Down 4.5%

PRCH stock traded down $0.36 during trading on Thursday, reaching $7.69. The stock had a trading volume of 2,422,213 shares, compared to its average volume of 1,552,813. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 17.20. The firm has a fifty day moving average price of $7.66 and a 200 day moving average price of $9.59. The company has a market capitalization of $957.11 million, a P/E ratio of -153.80 and a beta of 3.09. Porch Group, Inc. has a 1-year low of $5.06 and a 1-year high of $19.44.

Porch Group (NASDAQ:PRCH) last announced its earnings results on Wednesday, February 11th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.05. Porch Group had a negative return on equity of 51.86% and a negative net margin of 0.72%.The business had revenue of $112.25 million for the quarter, compared to analyst estimates of $109.13 million. On average, equities analysts anticipate that Porch Group, Inc. will post 0.02 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on PRCH shares. Benchmark reissued a “buy” rating on shares of Porch Group in a research report on Friday, January 16th. Weiss Ratings restated a “sell (d+)” rating on shares of Porch Group in a research note on Monday, December 29th. Keefe, Bruyette & Woods raised Porch Group from a “market perform” rating to an “outperform” rating and reduced their target price for the stock from $13.00 to $10.50 in a report on Wednesday, February 11th. Finally, Zacks Research raised Porch Group from a “strong sell” rating to a “hold” rating in a report on Friday, March 6th. Seven research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $17.21.

Hedge Funds Weigh In On Porch Group

Several hedge funds and other institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. increased its position 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 period. Vanguard Group Inc. increased its stake in shares of 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 during the period. Harbor Capital Advisors Inc. raised its holdings in Porch Group by 68.9% during the fourth quarter. Harbor Capital Advisors Inc. now owns 388,299 shares of the company’s stock worth $3,545,000 after purchasing an additional 158,368 shares in the last quarter. Tudor Investment Corp ET AL lifted its position in Porch Group by 1,897.9% in the third quarter. Tudor Investment Corp ET AL now owns 255,511 shares of the company’s stock worth $4,287,000 after purchasing an additional 242,722 shares during the period. Finally, Algert Global LLC lifted its position in Porch Group by 2,254.1% in the third quarter. Algert Global LLC now owns 759,664 shares of the company’s stock worth $12,747,000 after purchasing an additional 727,394 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.