Porch Group (NASDAQ:PRCH) CEO Matt Ehrlichman Sells 14,946 Shares of Company Stock

Porch Group, Inc. (NASDAQ:PRCH) CEO Matt Ehrlichman sold 14,946 shares of the company’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 value of $251,690.64. Following the sale, the chief executive officer directly owned 15,957,134 shares in the company, valued at approximately $268,718,136.56. This represents a 0.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 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 Performance

Porch Group stock traded up $0.14 during mid-day trading on Wednesday, reaching $17.31. The company’s stock had a trading volume of 2,030,450 shares, compared to its average volume of 1,714,197. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 20.53. Porch Group, Inc. has a twelve month low of $6.36 and a twelve month high of $18.37. The business has a 50 day moving average price of $16.56 and a 200-day moving average price of $12.60. The firm has a market cap of $2.28 billion, a price-to-earnings ratio of -144.25 and a beta of 3.18.

Porch Group (NASDAQ:PRCH) last issued 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 net margin of 2.67% and a negative return on equity of 68.47%. The company had revenue of $131.81 million for the quarter, compared to analysts’ expectations of $122.30 million. Sell-side analysts predict that Porch Group, Inc. will post -0.09 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Wellington Management Group LLP grew its position in Porch Group by 5.7% in the 2nd quarter. Wellington Management Group LLP now owns 1,297,050 shares of the company’s stock worth $19,508,000 after purchasing an additional 70,139 shares during the last quarter. Bank of America Corp DE bought a new stake in shares of Porch Group during the second quarter valued at approximately $1,920,000. Dimensional Fund Advisors LP boosted its position in shares of Porch Group by 42.0% during the first quarter. Dimensional Fund Advisors LP now owns 1,540,082 shares of the company’s stock worth $11,040,000 after buying an additional 455,817 shares during the period. Legal & General Group Plc bought a new position in Porch Group in the 2nd quarter worth approximately $904,000. Finally, Arrowstreet Capital Limited Partnership bought a new position in Porch Group in the 1st quarter worth approximately $1,015,000. 48.48% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

PRCH has been the topic of several research reports. Texas Capital upgraded shares of Porch Group to a “strong-buy” rating in a research note on Tuesday, September 22nd. Benchmark lifted their target price on Porch Group from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Weiss Ratings raised Porch Group from a “sell (d-)” rating to a “sell (d+)” rating in a report on Thursday, July 30th. Cantor Fitzgerald increased 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, B. Riley Financial raised their price target on Porch Group from $19.00 to $21.00 and gave the stock a “buy” rating in a report on Monday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus 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.