Porch Group (NASDAQ:PRCH) CEO Sells $215,100.00 in Stock

Porch Group, Inc. (NASDAQ:PRCH) CEO Matt Ehrlichman sold 10,000 shares of the stock in a transaction dated Tuesday, November 3rd. The stock was sold at an average price of $21.51, for a total transaction of $215,100.00. Following the completion of the sale, the chief executive officer directly owned 15,891,745 shares in the company, valued at $341,831,434.95. This trade represents a 0.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through 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 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 stock was sold at an average price of $16.84, for a total value of $251,690.64.

Porch Group Stock Down 5.8%

NASDAQ PRCH traded down $1.25 during trading on Thursday, reaching $20.31. 1,945,882 shares of the company’s stock traded hands, compared to its average volume of 1,760,421. Porch Group, Inc. has a 12-month low of $6.36 and a 12-month high of $21.96. The company has a debt-to-equity ratio of 13.21, a current ratio of 1.46 and a quick ratio of 1.46. The firm has a market cap of $2.68 billion, a price-to-earnings ratio of 253.87 and a beta of 3.16. The company’s 50 day simple moving average is $17.47 and its two-hundred day simple moving average is $12.20.

Porch Group (NASDAQ:PRCH) last issued its quarterly earnings data on Wednesday, October 28th. The company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.09. The firm had revenue of $143.86 million during the quarter, compared to analysts’ expectations of $134.65 million. Porch Group had a return on equity of 39.28% and a net margin of 1.81%. As a group, sell-side analysts forecast that Porch Group, Inc. will post -0.01 EPS for the current fiscal year.

Hedge Funds Weigh In On Porch Group

A number of large investors have recently added to or reduced their stakes in the stock. Jefferies Financial Group Inc. lifted its position in shares of Porch Group by 319.3% in the third quarter. Jefferies Financial Group Inc. now owns 113,448 shares of the company’s stock valued at $1,890,000 after acquiring an additional 86,394 shares in the last quarter. Pictet Asset Management Holding SA boosted its stake in shares of Porch Group by 31.2% in the third quarter. Pictet Asset Management Holding SA now owns 14,315 shares of the company’s stock worth $238,000 after acquiring an additional 3,406 shares during the last quarter. Calamos Advisors LLC purchased a new stake in shares of Porch Group during the third quarter worth approximately $378,000. Integrity Alliance LLC. purchased a new stake in shares of Porch Group during the third quarter worth approximately $732,000. Finally, State of Wyoming increased its position in shares of Porch Group by 213.3% during the third quarter. State of Wyoming now owns 13,279 shares of the company’s stock worth $221,000 after purchasing an additional 9,040 shares in the last quarter. 48.48% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

PRCH has been the subject of a number of research analyst reports. Benchmark raised their price target on shares of Porch Group from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Oppenheimer boosted their price objective 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 Porch Group from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, October 21st. Zacks Research upgraded Porch Group from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 15th. Finally, Wall Street Zen raised Porch Group from a “hold” rating to a “buy” rating in a research report on Saturday, October 31st. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $20.79.

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.