Porch Group (NASDAQ:PRCH) CEO Sells $251,690.64 in Stock

Porch Group, Inc. (NASDAQ:PRCH) CEO Matt Ehrlichman sold 14,946 shares of the firm’s stock in a transaction that occurred on Monday, October 5th. The shares were sold at an average price of $16.84, for a total transaction of $251,690.64. Following the completion of the sale, the chief executive officer directly owned 15,957,134 shares of the company’s stock, valued at approximately $268,718,136.56. This represents a 0.09% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 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, October 6th, Matt Ehrlichman sold 26,135 shares of Porch Group stock. The stock was sold at an average price of $17.35, for a total value of $453,442.25.

Porch Group Stock Up 0.2%

Shares of PRCH opened at $17.56 on Friday. The firm has a market capitalization of $2.31 billion, a price-to-earnings ratio of -146.33 and a beta of 3.18. The company has a debt-to-equity ratio of 20.53, a quick ratio of 1.45 and a current ratio of 1.45. The business’s fifty day moving average price is $16.78 and its two-hundred day moving average price is $12.77. Porch Group, Inc. has a 52 week low of $6.36 and a 52 week high of $18.37.

Porch Group (NASDAQ:PRCH) last released its earnings results on Wednesday, July 29th. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.08. Porch Group had a negative return on equity of 68.47% and a negative net margin of 2.67%. The company had revenue of $131.81 million during the quarter, compared to the consensus estimate of $122.30 million. On average, analysts predict that Porch Group, Inc. will post -0.09 earnings per share for the current year.

Institutional Investors Weigh In On Porch Group

Several hedge funds have recently bought and sold shares of PRCH. GAMMA Investing LLC increased its position in shares of Porch Group by 6.6% in the 3rd quarter. GAMMA Investing LLC now owns 12,503 shares of the company’s stock valued at $208,000 after buying an additional 778 shares in the last quarter. Integrated Wealth Concepts LLC bought a new position in Porch Group during the second quarter worth about $138,000. NewEdge Advisors LLC bought a new position in Porch Group during the second quarter worth about $198,000. Corient Private Wealth LP grew its stake in Porch Group by 550.4% in the second quarter. Corient Private Wealth LP now owns 71,151 shares of the company’s stock valued at $1,070,000 after acquiring an additional 60,212 shares during the period. Finally, Concurrent Investment Advisors LLC grew its stake in Porch Group by 10.2% in the second quarter. Concurrent Investment Advisors LLC now owns 116,674 shares of the company’s stock valued at $1,755,000 after acquiring an additional 10,812 shares during the period. 48.48% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on PRCH shares. Keefe, Bruyette & Woods upped their target price on shares of Porch Group from $16.25 to $16.50 and gave the company a “market perform” rating in a research report on Thursday, July 30th. Benchmark upped their target price on shares of Porch Group from $22.00 to $23.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Texas Capital raised Porch Group to a “strong-buy” rating in a research note on Tuesday, September 22nd. Cantor Fitzgerald raised their price target on Porch Group from $18.00 to $20.00 and gave the stock an “overweight” rating in a research report on Friday, September 25th. Finally, Weiss Ratings raised Porch Group from a “sell (d-)” rating to a “sell (d+)” rating in a research note on Thursday, July 30th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $18.75.

Porch Group Company Profile

Porch Group, Inc is a vertical software company focused on the home services industry. Through its technology platforms and related services, the company helps home-service businesses manage operations, attract customers, improve workflow efficiency and support transactions connected with buying, selling, maintaining and moving into homes.

Porch Group’s products and services have included customer relationship management, marketing and lead-generation tools, payments, workflow software and other business solutions for contractors and home-service professionals.