Porch Group, Inc. (NASDAQ:PRCH) CEO Matt Ehrlichman Buys 163,158 Shares

Porch Group, Inc. (NASDAQ:PRCH) CEO Matt Ehrlichman acquired 163,158 shares of the firm’s stock in a transaction on Monday, September 11th. The shares were bought at an average cost of $0.86 per share, with a total value of $140,315.88. Following the completion of the transaction, the chief executive officer now directly owns 12,953,280 shares in the company, valued at approximately $11,139,820.80. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Matt Ehrlichman also recently made the following trade(s):

• On Thursday, September 7th, Matt Ehrlichman acquired 425,000 shares of Porch Group stock. The shares were bought at an average cost of $0.77 per share, with a total value of $327,250.00.
• On Tuesday, September 5th, Matt Ehrlichman purchased 138,696 shares of Porch Group stock. The stock was acquired at an average cost of $0.81 per share, with a total value of $112,343.76.
• On Friday, September 1st, Matt Ehrlichman purchased 121,622 shares of Porch Group stock. The stock was acquired at an average cost of $0.82 per share, with a total value of $99,730.04.

Porch Group Stock Performance

Porch Group stock opened at $0.87 on Tuesday. The company has a debt-to-equity ratio of 9.40, a quick ratio of 1.09 and a current ratio of 1.09. The stock has a fifty day moving average of $1.12 and a two-hundred day moving average of $1.29. The company has a market capitalization of $86.02 million, a price-to-earnings ratio of -0.34 and a beta of 0.92. Porch Group, Inc. has a fifty-two week low of $0.71 and a fifty-two week high of $3.99.

Porch Group (NASDAQ:PRCH) last released its quarterly earnings results on Tuesday, August 8th. The company reported ($0.73) earnings per share for the quarter, missing the consensus estimate of ($0.50) by ($0.23). The company had revenue of $98.77 million for the quarter, compared to analysts’ expectations of $89.00 million. Porch Group had a negative return on equity of 329.46% and a negative net margin of 76.03%. On average, analysts anticipate that Porch Group, Inc. will post -1.34 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Benchmark reissued a “buy” rating and issued a $14.00 price target on shares of Porch Group in a report on Monday, July 24th. Cantor Fitzgerald reduced their price target on Porch Group from $7.00 to $6.00 and set an “overweight” rating for the company in a report on Tuesday, August 15th.

Institutional Investors Weigh In On Porch Group

A number of hedge funds and other institutional investors have recently made changes to their positions in PRCH. Portolan Capital Management LLC grew its position in shares of Porch Group by 769.3% in the fourth quarter. Portolan Capital Management LLC now owns 6,341,098 shares of the company’s stock valued at $11,921,000 after purchasing an additional 5,611,649 shares during the period. FMR LLC lifted its stake in shares of Porch Group by 7,804.2% during the first quarter. FMR LLC now owns 3,267,678 shares of the company’s stock worth $4,673,000 after purchasing an additional 3,226,337 shares in the last quarter. State Street Corp lifted its stake in shares of Porch Group by 57.2% during the second quarter. State Street Corp now owns 3,289,130 shares of the company’s stock worth $8,420,000 after purchasing an additional 1,196,716 shares in the last quarter. Jacob Asset Management of New York LLC lifted its stake in shares of Porch Group by 146.4% during the second quarter. Jacob Asset Management of New York LLC now owns 1,974,747 shares of the company’s stock worth $2,725,000 after purchasing an additional 1,173,272 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in shares of Porch Group by 40.6% during the second quarter. Goldman Sachs Group Inc. now owns 3,692,247 shares of the company’s stock worth $9,452,000 after purchasing an additional 1,065,665 shares in the last quarter. Hedge funds and other institutional investors own 78.75% of the company’s stock.

About Porch Group

Porch Group, Inc operates a software platform in the United States and Canada. The company operates through two segments, Vertical Software and Insurance. The Vertical Software segment provides software and services to home services companies and gives early access to homebuyers and homeowners. It offers services to home services companies, such as home inspectors, mortgage companies and loan officers, and title companies; consumers, such as homebuyers and homeowners, service providers, such as moving, insurance, warranty, and security companies, and TV/Internet providers.