Porch Group (NASDAQ:PRCH) CEO Matt Ehrlichman Sells 115,805 Shares

Porch Group, Inc. (NASDAQ:PRCH) CEO Matt Ehrlichman sold 115,805 shares of the company’s stock in a transaction on Friday, May 15th. The stock was sold at an average price of $10.34, for a total value of $1,197,423.70. Following the sale, the chief executive officer directly owned 16,092,448 shares in the company, valued at $166,395,912.32. This represents a 0.71% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at 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, 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 stock was sold at an average price of $11.12, for a total value of $1,293,289.36.
• On Tuesday, May 5th, Matt Ehrlichman sold 117,385 shares of Porch Group stock. The stock was 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 stock was 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 stock was 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 stock was 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 value 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 value of $896,093.94.
• On Tuesday, April 14th, Matt Ehrlichman sold 145,882 shares of Porch Group stock. The stock was sold at an average price of $6.84, for a total transaction of $997,832.88.
• On Thursday, April 9th, Matt Ehrlichman sold 121,293 shares of Porch Group stock. The stock was sold at an average price of $7.15, for a total transaction of $867,244.95.

Porch Group Stock Performance

Shares of PRCH stock opened at $9.77 on Wednesday. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 14.87. The firm has a fifty day moving average price of $8.25 and a 200 day moving average price of $8.87. The company has a market cap of $1.25 billion, a P/E ratio of -57.47 and a beta of 3.24. Porch Group, Inc. has a 12 month low of $6.36 and a 12 month high of $19.44.

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

Institutional Investors Weigh In On Porch Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PRCH. Osbon Capital Management LLC bought a new stake in Porch Group during the 4th quarter worth approximately $25,000. Aster Capital Management DIFC Ltd raised its stake 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 worth $26,000 after acquiring an additional 1,377 shares during the period. Larson Financial Group LLC raised its stake in Porch Group by 444.8% during the 3rd quarter. Larson Financial Group LLC now owns 1,836 shares of the company’s stock worth $31,000 after acquiring an additional 1,499 shares during the period. Kemnay Advisory Services Inc. bought a new stake in Porch Group during the 4th quarter worth approximately $38,000. Finally, RiverPark Advisors LLC bought a new stake in Porch Group during the 3rd quarter worth approximately $39,000. Institutional investors own 48.48% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on PRCH shares. Zacks Research upgraded shares of Porch Group from a “strong sell” rating to a “hold” rating in a research note on Friday, March 6th. Benchmark boosted their target price on shares of Porch Group from $21.00 to $22.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Stephens started coverage on shares of Porch Group in a research note on Monday, May 4th. They set an “overweight” rating and a $12.00 target price for the company. Finally, Keefe, Bruyette & Woods upgraded shares of Porch Group from a “market perform” rating to an “outperform” rating and lowered their target price for the stock from $13.00 to $10.50 in a research note on Wednesday, February 11th. Seven analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.21.

About Porch Group

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.