Insider Selling: Porch Group (NASDAQ:PRCH) CEO Sells 26,135 Shares of Stock

Porch Group, Inc. (NASDAQ:PRCH) CEO Matt Ehrlichman sold 26,135 shares of the stock in a transaction dated Tuesday, October 6th. The shares were sold at an average price of $17.35, for a total value of $453,442.25. Following the completion of the transaction, the chief executive officer directly owned 15,930,999 shares in the company, valued at approximately $276,402,832.65. This represents a 0.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available 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 Monday, October 5th, Matt Ehrlichman sold 14,946 shares of Porch Group stock. The shares were sold at an average price of $16.84, for a total value of $251,690.64.

Porch Group Stock Performance

Shares of NASDAQ PRCH traded up $0.14 during midday trading on Wednesday, hitting $17.31. 2,030,450 shares of the company’s stock traded hands, compared to its average volume of 1,714,197. The firm has a fifty day moving average of $16.56 and a 200 day moving average of $12.60. Porch Group, Inc. has a 1 year low of $6.36 and a 1 year high of $18.37. 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 stock has a market capitalization of $2.28 billion, a price-to-earnings ratio of -144.25 and a beta of 3.18.

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

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on PRCH shares. B. Riley Financial boosted their price objective on shares of Porch Group from $19.00 to $21.00 and gave the company a “buy” rating in a research report on Monday, August 3rd. Benchmark lifted their target price on Porch Group from $22.00 to $23.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Keefe, Bruyette & Woods boosted their price target on Porch Group from $16.25 to $16.50 and gave the company a “market perform” rating in a report on Thursday, July 30th. Cantor Fitzgerald upped 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, Texas Capital raised Porch Group to a “strong-buy” rating in a research note on Tuesday, September 22nd. One analyst has rated the stock with a Strong Buy rating, four have given 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 a consensus rating of “Moderate Buy” and an average price target of $18.75.

Hedge Funds Weigh In On Porch Group

Hedge funds have recently modified their holdings of the company. Osbon Capital Management LLC purchased a new stake in shares of Porch Group in the fourth quarter worth $25,000. State of Wyoming purchased a new position in shares of Porch Group during the 2nd quarter valued at $64,000. Persistent Asset Partners Ltd purchased a new position in shares of Porch Group during the 2nd quarter valued at $103,000. Integrated Wealth Concepts LLC bought a new position in Porch Group in the 2nd quarter worth $138,000. Finally, PNC Financial Services Group Inc. boosted its holdings in Porch Group by 697.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 9,390 shares of the company’s stock worth $67,000 after buying an additional 8,213 shares during the period. 48.48% of the stock is currently owned by institutional investors.

About Porch Group

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.