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 firm’s stock in a transaction dated Tuesday, November 3rd. The shares were sold at an average price of $21.51, for a total value of $215,100.00. Following the sale, the chief executive officer directly owned 15,891,745 shares in the company, valued at approximately $341,831,434.95. This 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 is accessible through this link. 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 shares were sold at an average price of $20.17, for a total value 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 value 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, 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.
• 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 2.9%

NASDAQ PRCH opened at $19.73 on Friday. The stock’s 50 day moving average is $17.57 and its 200 day moving average is $12.32. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 13.21. Porch Group, Inc. has a 12 month low of $6.36 and a 12 month high of $21.96. The stock has a market cap of $2.60 billion, a PE ratio of 246.62 and a beta of 3.16.

Porch Group (NASDAQ:PRCH) last posted its quarterly 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 business had revenue of $143.86 million during the quarter, compared to the consensus estimate of $134.65 million. Research analysts predict that Porch Group, Inc. will post -0.01 EPS for the current fiscal year.

Trending Headlines about Porch Group

Here are the key news stories impacting Porch Group this week:

• Positive Sentiment: A bullish investment commentary says Porch’s homeowner relationships and property data could support growth in insurance-related fee income. It points to the planned Allied Trust acquisition as a potential source of additional customers and distribution relationships. Porch Group: Home Insurance Growth Story
• Negative Sentiment: CEO Matt Ehrlichman sold 465,955 shares in transactions from November 4–6, while COO Matthew Neagle sold 56,250 shares and Director Alan Pickerill sold 10,000 shares. Repeated sales by senior leaders may weigh on investor sentiment. The CEO’s and COO’s trades were made under pre-arranged Rule 10b5-1 plans, and Ehrlichman still owns more than 15.4 million shares, which may temper the signal. CEO SEC filing COO sale report Director sale report

Analyst Upgrades and Downgrades

Several research firms recently weighed in on PRCH. Zacks Research raised shares of Porch Group from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 15th. Cantor Fitzgerald boosted their price target on shares of Porch Group from $18.00 to $20.00 and gave the stock an “overweight” rating in a research note on Friday, September 25th. Texas Capital raised shares of Porch Group to a “strong-buy” rating in a report on Tuesday, September 22nd. Keefe, Bruyette & Woods raised their price objective on Porch Group from $16.25 to $16.50 and gave the company a “market perform” rating in a research report on Thursday, July 30th. Finally, Oppenheimer raised their price objective on Porch Group from $20.00 to $25.00 and gave the company an “outperform” rating in a research report on Thursday, October 29th. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, Porch Group has an average rating of “Buy” and a consensus price target of $20.79.

Institutional Trading of Porch Group

Several hedge funds have recently modified their holdings of PRCH. GAMMA Investing LLC boosted its holdings in shares of Porch Group by 6.6% in the third quarter. GAMMA Investing LLC now owns 12,503 shares of the company’s stock valued at $208,000 after purchasing an additional 778 shares during the period. Hsbc Holdings PLC increased its holdings in Porch Group by 2.8% during the 2nd quarter. Hsbc Holdings PLC now owns 39,370 shares of the company’s stock worth $587,000 after purchasing an additional 1,065 shares during the period. Moody National Bank Trust Division increased its holdings in Porch Group by 0.3% during the 2nd quarter. Moody National Bank Trust Division now owns 658,852 shares of the company’s stock worth $9,909,000 after purchasing an additional 1,700 shares during the period. State of Alaska Department of Revenue raised its position in Porch Group by 5.1% during the 3rd quarter. State of Alaska Department of Revenue now owns 40,723 shares of the company’s stock valued at $678,000 after purchasing an additional 1,981 shares in the last quarter. Finally, Osbon Capital Management LLC bought a new stake in Porch Group during the 2nd quarter valued at $40,000. 48.48% of the stock is owned by hedge funds and other institutional investors.

About Porch Group

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.