Porch Group (NASDAQ:PRCH) CEO Matt Ehrlichman Sells 121,242 Shares of Stock

Porch Group, Inc. (NASDAQ:PRCH) CEO Matt Ehrlichman sold 121,242 shares of the business’s stock in a transaction that occurred on Tuesday, April 21st. The stock was sold at an average price of $8.12, for a total transaction of $984,485.04. Following the transaction, the chief executive officer owned 16,928,071 shares of the company’s stock, valued at approximately $137,455,936.52. This trade represents a 0.71% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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 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 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.
• On Tuesday, April 7th, Matt Ehrlichman sold 71,167 shares of Porch Group stock. The stock was sold at an average price of $7.19, for a total transaction of $511,690.73.
• On Thursday, April 2nd, Matt Ehrlichman sold 6,988 shares of Porch Group stock. The stock was sold at an average price of $6.98, for a total transaction of $48,776.24.

Porch Group Trading Down 4.5%

NASDAQ PRCH opened at $7.69 on Friday. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 17.20. The firm has a market cap of $957.10 million, a PE ratio of -153.80 and a beta of 3.09. The company has a 50 day moving average price of $7.64 and a 200 day moving average price of $9.58. Porch Group, Inc. has a 52 week low of $5.06 and a 52 week high of $19.44.

Porch Group (NASDAQ:PRCH) last posted its quarterly earnings data on Wednesday, February 11th. The company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.05. The firm had revenue of $112.25 million during the quarter, compared to analyst estimates of $109.13 million. Porch Group had a negative net margin of 0.72% and a negative return on equity of 51.86%. As a group, sell-side analysts forecast that Porch Group, Inc. will post 0.02 EPS for the current fiscal year.

Analysts Set New Price Targets

PRCH has been the subject of several recent analyst reports. Benchmark reiterated a “buy” rating on shares of Porch Group in a research note on Friday, January 16th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Porch Group in a research note on Monday, December 29th. Zacks Research raised shares of Porch Group from a “strong sell” rating to a “hold” rating in a research report on Friday, March 6th. Finally, Keefe, Bruyette & Woods raised shares of Porch Group from a “market perform” rating to an “outperform” rating and dropped their target price for the stock from $13.00 to $10.50 in a research report on Wednesday, February 11th. Seven analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given 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 price target of $17.21.

Key Stories Impacting Porch Group

Here are the key news stories impacting Porch Group this week:

• Positive Sentiment: Analysts maintain bullish tilt — Street consensus is a “Moderate Buy,” which supports demand and gives the stock fundamental cover against short-term weakness. Analyst Consensus
• Positive Sentiment: Institutional ownership has risen: recent filings cited in analyst coverage show firms like Vanguard and JPMorgan increasing stakes, which can provide a stabilizing base for the stock. MarketBeat PRCH
• Neutral Sentiment: Market attention and trading activity have picked up — coverage notes increased interest and volatility in the technology/home-services sector that includes Porch; this can amplify moves in either direction but does not by itself change fundamentals. KalkineMedia
• Negative Sentiment: Significant insider selling reported — CEO Matt Ehrlichman sold sizeable tranches (including ~113,862 shares and a separate ~121,242-share sale), the COO and CFO also sold shares in recent filings. While company disclosures say many sales were to cover tax withholding on vested awards, the volume of insider sales can be perceived negatively and is likely a material factor driving today’s decline. AmericanBankingNews: Insider Selling InsiderTrades Alert

Institutional Trading of Porch Group

Several large investors have recently bought and sold shares of PRCH. JPMorgan Chase & Co. boosted its holdings in shares of Porch Group by 95.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 924,180 shares of the company’s stock valued at $15,508,000 after acquiring an additional 450,560 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Porch Group by 5.6% in the 3rd quarter. Vanguard Group Inc. now owns 7,252,134 shares of the company’s stock valued at $121,691,000 after acquiring an additional 384,451 shares during the last quarter. Harbor Capital Advisors Inc. boosted its holdings in shares of Porch Group by 68.9% in the 4th quarter. Harbor Capital Advisors Inc. now owns 388,299 shares of the company’s stock valued at $3,545,000 after acquiring an additional 158,368 shares during the last quarter. Algert Global LLC boosted its holdings in shares of Porch Group by 2,254.1% in the 3rd quarter. Algert Global LLC now owns 759,664 shares of the company’s stock valued at $12,747,000 after acquiring an additional 727,394 shares during the last quarter. Finally, Tudor Investment Corp ET AL boosted its holdings in shares of Porch Group by 1,897.9% in the 3rd quarter. Tudor Investment Corp ET AL now owns 255,511 shares of the company’s stock valued at $4,287,000 after acquiring an additional 242,722 shares during the last quarter. Hedge funds and other institutional investors own 48.48% of the company’s stock.

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.