Porch Group (NASDAQ:PRCH) CEO Sells $997,832.88 in Stock

Porch Group, Inc. (NASDAQ:PRCH) CEO Matt Ehrlichman sold 145,882 shares of the stock in a transaction on Tuesday, April 14th. The stock was sold at an average price of $6.84, for a total value of $997,832.88. Following the transaction, the chief executive officer directly owned 17,163,175 shares in the company, valued at $117,396,117. The trade was a 0.84% decrease in their position. The transaction was disclosed in a filing with the SEC, 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 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 value 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 value 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 value of $48,776.24.

Porch Group Price Performance

PRCH opened at $8.20 on Friday. Porch Group, Inc. has a 12-month low of $4.64 and a 12-month high of $19.44. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 17.20. The business’s fifty day simple moving average is $7.63 and its 200-day simple moving average is $9.78. The company has a market capitalization of $1.02 billion, a price-to-earnings ratio of -164.00 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 analysts’ consensus estimates of ($0.08) by $0.05. The firm had revenue of $112.25 million during the quarter, compared to analysts’ expectations of $109.13 million. Porch Group had a negative return on equity of 51.86% and a negative net margin of 0.72%. On average, equities research analysts anticipate that Porch Group, Inc. will post -0.63 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Porch Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PRCH. AQR Capital Management LLC raised its stake in Porch Group by 134.7% in the first quarter. AQR Capital Management LLC now owns 226,795 shares of the company’s stock valued at $1,653,000 after buying an additional 130,166 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Porch Group by 4.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 48,275 shares of the company’s stock valued at $352,000 after buying an additional 2,002 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in Porch Group by 2.3% in the first quarter. Goldman Sachs Group Inc. now owns 1,161,064 shares of the company’s stock valued at $8,464,000 after buying an additional 26,119 shares during the last quarter. Creative Planning purchased a new stake in Porch Group in the second quarter valued at about $136,000. Finally, Legal & General Group Plc raised its stake in Porch Group by 1,203.8% in the second quarter. Legal & General Group Plc now owns 108,759 shares of the company’s stock valued at $1,282,000 after buying an additional 100,417 shares during the last quarter. 48.48% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Keefe, Bruyette & Woods upgraded Porch Group from a “market perform” rating to an “outperform” rating and decreased their price objective for the stock from $13.00 to $10.50 in a research note on Wednesday, February 11th. Zacks Research upgraded Porch Group from a “strong sell” rating to a “hold” rating in a research note on Friday, March 6th. Weiss Ratings restated a “sell (d+)” rating on shares of Porch Group in a research note on Monday, December 29th. Finally, Benchmark restated a “buy” rating on shares of Porch Group in a research note on Friday, January 16th. Seven analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently 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.