Matt Ehrlichman Sells 116,303 Shares of Porch Group (NASDAQ:PRCH) Stock

Porch Group, Inc. (NASDAQ:PRCH) CEO Matt Ehrlichman sold 116,303 shares of Porch Group stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $11.12, for a total value of $1,293,289.36. Following the sale, the chief executive officer directly owned 16,331,134 shares in the company, valued at $181,602,210.08. This trade represents a 0.71% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed 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 5th, Matt Ehrlichman sold 117,385 shares of Porch Group stock. The shares were sold at an average price of $10.43, for a total value of $1,224,325.55.
• On Friday, May 1st, Matt Ehrlichman sold 124,089 shares of Porch Group stock. The shares were sold at an average price of $9.79, for a total value of $1,214,831.31.
• On Tuesday, April 28th, Matt Ehrlichman sold 115,642 shares of Porch Group stock. The shares were sold at an average price of $8.11, for a total value of $937,856.62.
• On Friday, April 24th, Matt Ehrlichman sold 123,518 shares of Porch Group stock. The shares were sold at an average price of $7.68, for a total value of $948,618.24.
• On Tuesday, April 21st, Matt Ehrlichman sold 121,242 shares of Porch Group stock. The shares were sold at an average price of $8.12, for a total value of $984,485.04.
• On Friday, April 17th, Matt Ehrlichman sold 113,862 shares of Porch Group stock. The shares were sold at an average price of $7.87, for a total value of $896,093.94.
• On Tuesday, April 14th, Matt Ehrlichman sold 145,882 shares of Porch Group stock. The shares were sold at an average price of $6.84, for a total value of $997,832.88.
• On Thursday, April 9th, Matt Ehrlichman sold 121,293 shares of Porch Group stock. The shares were sold at an average price of $7.15, for a total value of $867,244.95.
• On Tuesday, April 7th, Matt Ehrlichman sold 71,167 shares of Porch Group stock. The shares were sold at an average price of $7.19, for a total value of $511,690.73.
• On Thursday, April 2nd, Matt Ehrlichman sold 6,988 shares of Porch Group stock. The shares were sold at an average price of $6.98, for a total value of $48,776.24.

Porch Group Stock Performance

NASDAQ PRCH opened at $10.24 on Thursday. The stock has a market capitalization of $1.31 billion, a PE ratio of -60.23 and a beta of 3.24. The business has a 50 day simple moving average of $8.09 and a two-hundred day simple moving average of $9.03. The company has a debt-to-equity ratio of 14.87, a current ratio of 1.28 and a quick ratio of 1.28. Porch Group, Inc. has a 1-year low of $6.36 and a 1-year high of $19.44.

Porch Group (NASDAQ:PRCH) last released its quarterly earnings results on Tuesday, April 28th. The company reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.06. The business had revenue of $109.44 million during the quarter, compared to analysts’ expectations of $94.72 million. Porch Group had a negative return on equity of 115.59% and a negative net margin of 3.41%. On average, research analysts predict that Porch Group, Inc. will post -0.04 EPS for the current fiscal year.

Hedge Funds Weigh In On Porch Group

A number of large investors have recently bought and sold shares of the business. The Manufacturers Life Insurance Company boosted its holdings in Porch Group by 3.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 29,657 shares of the company’s stock valued at $350,000 after acquiring an additional 1,090 shares during the period. Alliancebernstein L.P. boosted its holdings in Porch Group by 1.5% during the 3rd quarter. Alliancebernstein L.P. now owns 80,410 shares of the company’s stock valued at $1,349,000 after acquiring an additional 1,200 shares during the period. Prudential Financial Inc. boosted its holdings in Porch Group by 9.4% during the 2nd quarter. Prudential Financial Inc. now owns 14,220 shares of the company’s stock valued at $168,000 after acquiring an additional 1,220 shares during the period. Aster Capital Management DIFC Ltd boosted its holdings in Porch Group by 956.3% during the 3rd quarter. Aster Capital Management DIFC Ltd now owns 1,521 shares of the company’s stock valued at $26,000 after acquiring an additional 1,377 shares during the period. Finally, Larson Financial Group LLC boosted its holdings in Porch Group by 444.8% during the 3rd quarter. Larson Financial Group LLC now owns 1,836 shares of the company’s stock valued at $31,000 after acquiring an additional 1,499 shares during the period. Hedge funds and other institutional investors own 48.48% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on PRCH. Benchmark lifted their target price on Porch Group from $21.00 to $22.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Stephens began coverage on Porch Group in a report on Monday, May 4th. They issued an “overweight” rating and a $12.00 target price for the company. Keefe, Bruyette & Woods upgraded Porch Group from a “market perform” rating to an “outperform” rating and dropped their target price for the stock from $13.00 to $10.50 in a report on Wednesday, February 11th. Finally, Zacks Research upgraded Porch Group from a “strong sell” rating to a “hold” rating in a report on Friday, March 6th. Seven investment 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. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $17.21.

Porch Group Company Profile

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.