Porch Group (NASDAQ:PRCH) Stock: Insider Matt Ehrlichman Sells 109,043 Shares

Porch Group, Inc. (NASDAQ:PRCH) CEO Matt Ehrlichman sold 109,043 shares of the firm’s stock in a transaction that occurred on Monday, November 9th. The stock was sold at an average price of $20.15, for a total transaction of $2,197,216.45. Following the transaction, the chief executive officer directly owned 15,316,747 shares of the company’s stock, valued at $308,632,452.05. This represents a 0.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 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 transaction of $392,346.84.
• On Thursday, November 5th, Matt Ehrlichman sold 194,763 shares of Porch Group stock. The shares were sold at an average price of $20.40, for a total transaction of $3,973,165.20.
• On Wednesday, November 4th, Matt Ehrlichman sold 251,740 shares of Porch Group stock. The shares were sold at an average price of $21.58, for a total transaction of $5,432,549.20.
• On Tuesday, November 3rd, Matt Ehrlichman sold 10,000 shares of Porch Group stock. The shares were sold at an average price of $21.51, for a total transaction of $215,100.00.
• 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 transaction 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 transaction of $251,690.64.

Porch Group Stock Performance

Shares of Porch Group stock traded up $1.31 during trading on Tuesday, hitting $21.95. 4,078,027 shares of the company’s stock were exchanged, compared to its average volume of 1,765,982. The company has a debt-to-equity ratio of 13.21, a quick ratio of 1.46 and a current ratio of 1.46. The business has a 50-day simple moving average of $17.64 and a 200-day simple moving average of $12.38. Porch Group, Inc. has a 52-week low of $6.36 and a 52-week high of $22.36. The stock has a market capitalization of $2.89 billion, a price-to-earnings ratio of 274.38 and a beta of 3.16.

Porch Group (NASDAQ:PRCH) last posted its earnings results on Wednesday, October 28th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.09. Porch Group had a net margin of 1.81% and a return on equity of 39.28%. The company had revenue of $143.86 million during the quarter, compared to the consensus estimate of $134.65 million. On average, research analysts forecast that Porch Group, Inc. will post -0.01 EPS for the current year.

Analysts Set New Price Targets

PRCH has been the subject of a number of recent research reports. Craig Hallum set a $25.00 price objective on Porch Group in a research note on Thursday, October 29th. Oppenheimer boosted their price objective on Porch Group from $20.00 to $25.00 and gave the company an “outperform” rating in a report on Thursday, October 29th. Wall Street Zen upgraded Porch Group from a “hold” rating to a “buy” rating in a research note on Saturday, October 31st. Keefe, Bruyette & Woods raised their target price on Porch Group from $16.25 to $16.50 and gave the stock a “market perform” rating in a report on Thursday, July 30th. Finally, Cantor Fitzgerald raised their target price on Porch Group from $18.00 to $20.00 and gave the stock an “overweight” rating in a report on Friday, September 25th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $20.79.

Hedge Funds Weigh In On Porch Group

Several institutional investors have recently made changes to their positions in the company. Wellington Management Group LLP boosted its stake in shares of Porch Group by 5.7% during the 2nd quarter. Wellington Management Group LLP now owns 1,297,050 shares of the company’s stock worth $19,508,000 after acquiring an additional 70,139 shares in the last quarter. Bank of America Corp DE purchased a new position in shares of Porch Group in the 2nd quarter valued at about $1,920,000. The Manufacturers Life Insurance Company purchased a new position in shares of Porch Group in the 2nd quarter valued at about $757,000. Legal & General Group Plc purchased a new position in shares of Porch Group in the 2nd quarter valued at about $904,000. Finally, Dimensional Fund Advisors LP increased its stake in shares of Porch Group by 42.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,540,082 shares of the company’s stock valued at $11,040,000 after purchasing an additional 455,817 shares in the last quarter. 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 homeownership market. Its platform serves home-service professionals and related businesses, including home inspectors, and offers tools for managing operations, customer relationships, scheduling and business growth. The company also provides insurance products and services for homeowners and works with real estate and mortgage professionals. Its offerings include software for home inspectors and mortgage companies, alongside insurance capabilities that support customers through the homebuying and homeownership process.