Insider Selling: Porch Group (NASDAQ:PRCH) CEO Sells 115,805 Shares of Stock

Porch Group, Inc. (NASDAQ:PRCH) CEO Matt Ehrlichman sold 115,805 shares of Porch Group stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $10.34, for a total transaction of $1,197,423.70. Following the completion of the transaction, the chief executive officer owned 16,092,448 shares of the company’s stock, valued at $166,395,912.32. This trade represents a 0.71% decrease in their position. The transaction was disclosed in a legal 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, May 12th, Matt Ehrlichman sold 122,881 shares of Porch Group stock. The shares were sold at an average price of $10.52, for a total transaction of $1,292,708.12.
• On Friday, May 8th, Matt Ehrlichman sold 116,303 shares of Porch Group stock. The stock was sold at an average price of $11.12, for a total transaction 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 stock was 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 stock was sold at an average price of $8.11, for a total transaction of $937,856.62.
• On Friday, April 24th, Matt Ehrlichman sold 123,518 shares of Porch Group stock. The stock was sold at an average price of $7.68, for a total transaction 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 stock was sold at an average price of $6.84, for a total transaction of $997,832.88.
• On Thursday, April 9th, Matt Ehrlichman sold 121,293 shares of Porch Group stock. The stock was sold at an average price of $7.15, for a total transaction of $867,244.95.

Porch Group Trading Down 2.0%

PRCH stock traded down $0.20 during trading on Tuesday, hitting $9.77. The company had a trading volume of 2,311,762 shares, compared to its average volume of 1,751,203. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 14.87. The firm has a 50-day moving average price of $8.21 and a 200-day moving average price of $8.91. Porch Group, Inc. has a 12 month low of $6.36 and a 12 month high of $19.44. The stock has a market cap of $1.25 billion, a price-to-earnings ratio of -57.47 and a beta of 3.24.

Porch Group (NASDAQ:PRCH) last posted its quarterly earnings data on Tuesday, April 28th. The company reported ($0.04) earnings per share for the quarter, topping 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 firm had revenue of $109.44 million during the quarter, compared to analysts’ expectations of $94.72 million. As a group, analysts predict that Porch Group, Inc. will post -0.04 earnings per share for the current year.

Hedge Funds Weigh In On Porch Group

Several institutional investors and hedge funds have recently made changes to their positions in the company. Bank of America Corp DE grew its holdings in shares of Porch Group by 34.8% in the 1st quarter. Bank of America Corp DE now owns 364,015 shares of the company’s stock valued at $2,610,000 after buying an additional 94,033 shares during the period. EverSource Wealth Advisors LLC grew its holdings in shares of Porch Group by 3,773.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 15,339 shares of the company’s stock valued at $110,000 after buying an additional 14,943 shares during the period. California State Teachers Retirement System grew its holdings in shares of Porch Group by 41.4% in the 1st quarter. California State Teachers Retirement System now owns 90,632 shares of the company’s stock valued at $650,000 after buying an additional 26,528 shares during the period. Ashford Capital Management Inc. grew its holdings in shares of Porch Group by 72.0% in the 1st quarter. Ashford Capital Management Inc. now owns 696,180 shares of the company’s stock valued at $4,992,000 after buying an additional 291,510 shares during the period. Finally, Quantinno Capital Management LP grew its holdings in shares of Porch Group by 195.9% in the 1st quarter. Quantinno Capital Management LP now owns 73,939 shares of the company’s stock valued at $530,000 after buying an additional 48,949 shares during the period. Institutional investors and hedge funds own 48.48% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on the stock. Stephens assumed coverage on shares of Porch Group in a report on Monday, May 4th. They set an “overweight” rating and a $12.00 target price for the company. Keefe, Bruyette & Woods raised shares of Porch Group from a “market perform” rating to an “outperform” rating and lowered their target price for the stock from $13.00 to $10.50 in a report on Wednesday, February 11th. Benchmark lifted their target price on shares of Porch Group from $21.00 to $22.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Finally, Zacks Research raised shares of 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. According to data from MarketBeat, Porch Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $17.21.

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.