Porch Group (NASDAQ:PRCH) CEO Sells $1,177,199.04 in Stock

Porch Group, Inc. (NASDAQ:PRCH) CEO Matt Ehrlichman sold 120,368 shares of the stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $9.78, for a total value of $1,177,199.04. Following the completion of the transaction, the chief executive officer owned 15,972,080 shares of the company’s stock, valued at $156,206,942.40. The trade was a 0.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed 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 Friday, May 15th, Matt Ehrlichman sold 115,805 shares of Porch Group stock. The stock was sold at an average price of $10.34, for a total value of $1,197,423.70.
• On Tuesday, May 12th, Matt Ehrlichman sold 122,881 shares of Porch Group stock. The stock was sold at an average price of $10.52, for a total value of $1,292,708.12.
• On Friday, May 8th, Matt Ehrlichman sold 116,303 shares of Porch Group stock. The shares were sold at an average price of $11.12, for a total transaction of $1,293,289.36.
• 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 transaction 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 transaction 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 transaction 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 stock was sold at an average price of $8.12, for a total transaction of $984,485.04.
• On Friday, April 17th, Matt Ehrlichman sold 113,862 shares of Porch Group stock. The stock was sold at an average price of $7.87, for a total transaction 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 transaction of $997,832.88.

Porch Group Stock Performance

Shares of NASDAQ:PRCH remained flat at $9.74 during trading on Thursday. 1,190,169 shares of the company’s stock traded hands, compared to its average volume of 1,741,063. Porch Group, Inc. has a fifty-two week low of $6.36 and a fifty-two week high of $19.44. The firm’s fifty day simple moving average is $8.29 and its 200 day simple moving average is $8.83. The company has a debt-to-equity ratio of 14.87, a current ratio of 1.28 and a quick ratio of 1.28. The stock has a market cap of $1.24 billion, a P/E ratio of -57.29 and a beta of 3.24.

Porch Group (NASDAQ:PRCH) last announced its quarterly earnings data on Tuesday, April 28th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.06. The business had revenue of $109.44 million for 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%. As a group, equities analysts expect that Porch Group, Inc. will post -0.04 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on PRCH. Stephens assumed coverage on Porch Group in a research note on Monday, May 4th. They set an “overweight” rating and a $12.00 target price for the company. Keefe, Bruyette & Woods raised shares of Porch Group from a “market perform” rating to an “outperform” rating and cut their price objective for the stock from $13.00 to $10.50 in a report on Wednesday, February 11th. Benchmark upped their target price on shares of Porch Group from $21.00 to $22.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Finally, Zacks Research raised shares of Porch Group from a “strong sell” rating to a “hold” rating in a research report on Friday, March 6th. Seven equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.21.

Hedge Funds Weigh In On Porch Group

Hedge funds and other institutional investors have recently bought and sold shares of the company. AQR Capital Management LLC raised its position in Porch Group by 134.7% during the 1st quarter. AQR Capital Management LLC now owns 226,795 shares of the company’s stock worth $1,653,000 after buying an additional 130,166 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Porch Group by 4.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 48,275 shares of the company’s stock worth $352,000 after acquiring an additional 2,002 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of Porch Group by 2.3% during the first quarter. Goldman Sachs Group Inc. now owns 1,161,064 shares of the company’s stock worth $8,464,000 after acquiring an additional 26,119 shares during the period. Creative Planning purchased a new position in Porch Group during the second quarter worth about $136,000. Finally, Legal & General Group Plc raised its holdings in Porch Group by 1,203.8% during the second quarter. Legal & General Group Plc now owns 108,759 shares of the company’s stock worth $1,282,000 after purchasing an additional 100,417 shares in the last quarter. 48.48% of the stock is currently owned by hedge funds and other institutional investors.

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.