Porch Group (NASDAQ:PRCH) CEO Matt Ehrlichman Sells 109,043 Shares of Stock

Porch Group, Inc. (NASDAQ:PRCH) CEO Matt Ehrlichman sold 109,043 shares of the firm’s stock in a transaction that occurred on Monday, November 9th. The shares were sold at an average price of $20.15, for a total transaction of $2,197,216.45. Following the completion of the sale, the chief executive officer owned 15,316,747 shares of the company’s stock, valued at approximately $308,632,452.05. This trade represents a 0.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 Thursday, November 5th, Matt Ehrlichman sold 194,763 shares of Porch Group stock. The stock was sold at an average price of $20.40, for a total transaction of $3,973,165.20.
• 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 value of $5,432,549.20.
• On Tuesday, November 3rd, Matt Ehrlichman sold 10,000 shares of Porch Group stock. The stock was 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 shares were sold at an average price of $16.84, for a total value of $251,690.64.

Porch Group Stock Up 6.3%

Shares of Porch Group stock traded up $1.31 during trading on Tuesday, reaching $21.95. The company’s stock had a trading volume of 4,078,027 shares, compared to its average volume of 1,765,982. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 13.21. The company has a market cap of $2.89 billion, a price-to-earnings ratio of 274.38 and a beta of 3.16. Porch Group, Inc. has a 1-year low of $6.36 and a 1-year high of $22.36. The company has a 50-day simple moving average of $17.64 and a two-hundred day simple moving average of $12.38.

Porch Group (NASDAQ:PRCH) last announced its earnings results on Wednesday, October 28th. The company reported $0.10 earnings per share for the quarter, topping 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 for the quarter, compared to the consensus estimate of $134.65 million. As a group, equities analysts forecast that Porch Group, Inc. will post -0.01 earnings per share for the current year.

Hedge Funds Weigh In On Porch Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Osbon Capital Management LLC purchased a new stake in Porch Group during the 2nd quarter valued at about $40,000. State of Wyoming purchased a new position in shares of Porch Group in the second quarter worth about $64,000. Persistent Asset Partners Ltd purchased a new position in shares of Porch Group in the second quarter worth about $103,000. Integrated Wealth Concepts LLC purchased a new position in shares of Porch Group in the second quarter worth about $138,000. Finally, PNC Financial Services Group Inc. raised its stake in shares of Porch Group by 697.8% in the first quarter. PNC Financial Services Group Inc. now owns 9,390 shares of the company’s stock worth $67,000 after purchasing an additional 8,213 shares during the last quarter. Hedge funds and other institutional investors own 48.48% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on PRCH shares. Cantor Fitzgerald increased their price objective on shares of Porch Group from $18.00 to $20.00 and gave the company an “overweight” rating in a research report on Friday, September 25th. Benchmark lifted their target price on shares of Porch Group from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. B. Riley Financial boosted their target price on shares of Porch Group from $21.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, October 14th. Oppenheimer upped their price target on shares of Porch Group from $20.00 to $25.00 and gave the company an “outperform” rating in a research note on Thursday, October 29th. Finally, Weiss Ratings upgraded shares of Porch Group from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, October 21st. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Porch Group currently has an average rating of “Buy” and an average target price of $20.79.

Porch Group Company Profile

Porch Group, Inc. is a technology company that provides software and services for the homeownership market. Its platform serves home-service professionals and related businesses, including home inspectors, and offers tools for managing operations, customer relationships, scheduling and business growth. The company also provides insurance products and services for homeowners and works with real estate and mortgage professionals. Its offerings include software for home inspectors and mortgage companies, alongside insurance capabilities that support customers through the homebuying and homeownership process.