Matt Ehrlichman Sells 71,167 Shares of Porch Group (NASDAQ:PRCH) Stock

Porch Group, Inc. (NASDAQ:PRCH) CEO Matt Ehrlichman sold 71,167 shares of the firm’s stock in a transaction that occurred on Tuesday, April 7th. The stock was sold at an average price of $7.19, for a total transaction of $511,690.73. Following the transaction, the chief executive officer directly owned 17,430,350 shares of the company’s stock, valued at approximately $125,324,216.50. This trade represents a 0.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 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 PRCH traded down $0.16 during mid-day trading on Thursday, reaching $7.02. 1,461,674 shares of the company’s stock were exchanged, compared to its average volume of 1,533,128. 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 $7.63 and a two-hundred day simple moving average of $10.28. Porch Group, Inc. has a 52-week low of $4.64 and a 52-week high of $19.44. The company has a market cap of $873.71 million, a price-to-earnings ratio of -140.40 and a beta of 3.09.

Porch Group (NASDAQ:PRCH) last released its earnings results 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 analysts’ expectations of $109.13 million. Porch Group had a negative net margin of 0.72% and a negative return on equity of 51.86%. On average, sell-side analysts predict that Porch Group, Inc. will post -0.63 EPS for the current fiscal year.

Institutional Trading of Porch Group

Several institutional investors have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company grew its stake 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 valued at $350,000 after buying an additional 1,090 shares during the period. Alliancebernstein L.P. grew its stake in shares of Porch Group by 1.5% during the 3rd quarter. Alliancebernstein L.P. now owns 80,410 shares of the company’s stock valued at $1,349,000 after buying an additional 1,200 shares during the period. Prudential Financial Inc. grew its stake in shares of Porch Group by 9.4% during the 2nd quarter. Prudential Financial Inc. now owns 14,220 shares of the company’s stock valued at $168,000 after buying an additional 1,220 shares during the period. Aster Capital Management DIFC Ltd grew its stake in shares of Porch Group by 956.3% during the 3rd quarter. Aster Capital Management DIFC Ltd now owns 1,521 shares of the company’s stock valued at $26,000 after buying an additional 1,377 shares during the period. Finally, Larson Financial Group LLC grew its stake in shares of Porch Group by 444.8% during the 3rd quarter. Larson Financial Group LLC now owns 1,836 shares of the company’s stock valued at $31,000 after buying an additional 1,499 shares during the period. 48.48% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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