Porch Group (NASDAQ:PRCH) CEO Sells $48,776.24 in Stock

Porch Group, Inc. (NASDAQ:PRCH) CEO Matt Ehrlichman sold 6,988 shares of Porch Group stock in a transaction that occurred on Thursday, April 2nd. The shares were sold at an average price of $6.98, for a total transaction of $48,776.24. Following the transaction, the chief executive officer directly owned 17,203,688 shares of the company’s stock, valued at approximately $120,081,742.24. This trade represents a 0.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Porch Group Stock Performance

PRCH opened at $7.51 on Monday. The firm has a fifty day moving average price of $7.67 and a 200 day moving average price of $10.47. Porch Group, Inc. has a 1 year low of $4.64 and a 1 year high of $19.44. The stock has a market cap of $934.69 million, a P/E ratio of -150.20 and a beta of 3.09. The company has a debt-to-equity ratio of 17.20, a current ratio of 1.30 and a quick ratio of 1.30.

Porch Group (NASDAQ:PRCH) last released its quarterly earnings results on Wednesday, February 11th. The company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.08) by $0.05. Porch Group had a negative net margin of 0.72% and a negative return on equity of 51.86%. The company had revenue of $112.25 million for the quarter, compared to analyst estimates of $109.13 million. Equities research analysts anticipate that Porch Group, Inc. will post -0.63 earnings per share for the current year.

Institutional Trading of Porch Group

A number of institutional investors and hedge funds have recently modified their holdings of PRCH. The Manufacturers Life Insurance Company raised its position in shares of Porch Group by 3.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 29,657 shares of the company’s stock worth $350,000 after purchasing an additional 1,090 shares during the last quarter. Alliancebernstein L.P. boosted its holdings in Porch Group by 1.5% in the 3rd quarter. Alliancebernstein L.P. now owns 80,410 shares of the company’s stock worth $1,349,000 after buying an additional 1,200 shares during the last quarter. Prudential Financial Inc. boosted its holdings in Porch Group by 9.4% in the 2nd quarter. Prudential Financial Inc. now owns 14,220 shares of the company’s stock worth $168,000 after buying an additional 1,220 shares during the last quarter. Aster Capital Management DIFC Ltd increased 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 buying an additional 1,377 shares in the last quarter. Finally, Larson Financial Group LLC raised its holdings in shares of Porch Group by 444.8% during the third quarter. Larson Financial Group LLC now owns 1,836 shares of the company’s stock valued at $31,000 after acquiring an additional 1,499 shares during the last quarter. Hedge funds and other institutional investors own 48.48% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on PRCH shares. Benchmark restated 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 report on Monday, December 29th. Keefe, Bruyette & Woods raised Porch Group from a “market perform” rating to an “outperform” rating and dropped their price objective for the company from $13.00 to $10.50 in a report on Wednesday, February 11th. Finally, Zacks Research upgraded Porch Group from a “strong sell” rating to a “hold” rating in a research report on Friday, March 6th. Seven investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $17.21.

Porch Group Company Profile

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.