Insider Selling: Porch Group (NASDAQ:PRCH) CEO Sells $867,244.95 in Stock

Porch Group, Inc. (NASDAQ:PRCH) CEO Matt Ehrlichman sold 121,293 shares of Porch Group stock in a transaction dated Thursday, April 9th. The stock was sold at an average price of $7.15, for a total transaction of $867,244.95. Following the completion of the sale, the chief executive officer owned 17,309,057 shares of the company’s stock, valued at $123,759,757.55. This trade represents a 0.70% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 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 Price Performance

Shares of Porch Group stock opened at $6.76 on Monday. Porch Group, Inc. has a twelve month low of $4.64 and a twelve month high of $19.44. 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 company has a 50-day simple moving average of $7.59 and a two-hundred day simple moving average of $10.07. The stock has a market capitalization of $841.35 million, a price-to-earnings ratio of -135.20 and a beta of 3.09.

Porch Group (NASDAQ:PRCH) last issued its quarterly earnings data on Wednesday, February 11th. The company reported ($0.03) earnings per share for the quarter, topping 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 business had revenue of $112.25 million during the quarter, compared to analysts’ expectations of $109.13 million. Analysts forecast that Porch Group, Inc. will post -0.63 EPS for the current year.

Institutional Investors Weigh In On Porch Group

Several hedge funds and other institutional investors have recently made changes to their positions in PRCH. AQR Capital Management LLC grew its holdings in shares of Porch Group by 134.7% during the 1st quarter. AQR Capital Management LLC now owns 226,795 shares of the company’s stock valued at $1,653,000 after purchasing an additional 130,166 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Porch Group by 4.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 48,275 shares of the company’s stock valued at $352,000 after purchasing an additional 2,002 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Porch Group by 2.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,161,064 shares of the company’s stock valued at $8,464,000 after purchasing an additional 26,119 shares during the last quarter. Creative Planning bought a new stake in Porch Group during the 2nd quarter worth approximately $136,000. Finally, Legal & General Group Plc grew its holdings in Porch Group by 1,203.8% during the 2nd quarter. Legal & General Group Plc now owns 108,759 shares of the company’s stock worth $1,282,000 after acquiring an additional 100,417 shares during the last quarter. 48.48% of the stock is owned by institutional investors.

Key Headlines Impacting Porch Group

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

• Positive Sentiment: Recent quarterly results still show positive momentum: Porch posted an EPS beat and revenue above estimates in its Feb quarter, which supports the company’s recovery narrative and underpins analyst bullishness. MarketBeat PRCH
• Neutral Sentiment: Analyst coverage remains mixed but tilted positive — MarketBeat shows a consensus “Moderate Buy” and a multi-analyst price-target gap (consensus ~ $17.21), which can support upside if execution continues. Analyst Coverage
• Neutral Sentiment: The report lists short-interest as zero with days-to-cover 0.0 — this appears to be a data anomaly and should not be read as meaningful market positioning without confirmation from an exchange/official short-interest file.
• Negative Sentiment: CEO Matt Ehrlichman sold 121,293 shares at an average ~$7.15 (4/9 filing) to cover tax withholding from vested awards; his stake still remains large. CEO Form 4
• Negative Sentiment: COO Matthew Neagle sold 62,827 shares at ~ $7.15 (4/9 filing); the company says these sales were to cover tax withholding on vested equity. COO Form 4
• Negative Sentiment: CFO Shawn Tabak reported multiple small sales (7,734 shares on 4/9 and 9,344 shares on 4/7) at roughly $7.15–$7.19 to cover tax withholding; these are routine but add selling pressure. CFO Form 4

Analyst Upgrades and Downgrades

Several equities analysts have commented on PRCH shares. Benchmark reissued a “buy” rating on shares of Porch Group in a report on Friday, January 16th. Keefe, Bruyette & Woods raised shares of Porch Group from a “market perform” rating to an “outperform” rating and decreased their target price for the company from $13.00 to $10.50 in a report on Wednesday, February 11th. Zacks Research raised shares of Porch Group from a “strong sell” rating to a “hold” rating in a report on Friday, March 6th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Porch Group in a report on Monday, December 29th. Seven equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Porch Group presently has an average 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.