Porch Group (NASDAQ:PRCH) CEO Sells $392,346.84 in Stock

Porch Group, Inc. (NASDAQ:PRCH) CEO Matt Ehrlichman sold 19,452 shares of the firm’s stock in a transaction dated Friday, November 6th. The stock was sold at an average price of $20.17, for a total transaction of $392,346.84. Following the transaction, the chief executive officer directly owned 15,425,790 shares of the company’s stock, valued at $311,138,184.30. The trade was a 0.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Thursday, November 5th, Matt Ehrlichman sold 194,763 shares of Porch Group stock. The shares were sold at an average price of $20.40, for a total transaction of $3,973,165.20.
• On Wednesday, November 4th, Matt Ehrlichman sold 251,740 shares of Porch Group stock. The shares were sold at an average price of $21.58, for a total transaction of $5,432,549.20.
• On Tuesday, November 3rd, Matt Ehrlichman sold 10,000 shares of Porch Group stock. The stock was sold at an average price of $21.51, for a total transaction of $215,100.00.
• On Tuesday, October 6th, Matt Ehrlichman sold 26,135 shares of Porch Group stock. The stock was sold at an average price of $17.35, for a total transaction of $453,442.25.
• On Monday, October 5th, Matt Ehrlichman sold 14,946 shares of Porch Group stock. The shares were sold at an average price of $16.84, for a total value of $251,690.64.

Porch Group Price Performance

Shares of PRCH stock traded down $0.58 during trading hours on Friday, hitting $19.73. The company had a trading volume of 1,253,184 shares, compared to its average volume of 1,758,051. Porch Group, Inc. has a 12 month low of $6.36 and a 12 month high of $21.96. The firm has a market capitalization of $2.60 billion, a price-to-earnings ratio of 246.62 and a beta of 3.16. The firm’s fifty day moving average is $17.53 and its 200 day moving average is $12.26. The company has a debt-to-equity ratio of 13.21, a quick ratio of 1.46 and a current ratio of 1.46.

Porch Group (NASDAQ:PRCH) last posted its earnings results on Wednesday, October 28th. The company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.01 by $0.09. Porch Group had a return on equity of 39.28% and a net margin of 1.81%. The business had revenue of $143.86 million during the quarter, compared to the consensus estimate of $134.65 million. On average, sell-side analysts predict that Porch Group, Inc. will post -0.01 EPS for the current fiscal year.

Wall Street Analyst Weigh In

PRCH has been the topic of several analyst reports. Texas Capital raised shares of Porch Group to a “strong-buy” rating in a report on Tuesday, September 22nd. Wall Street Zen upgraded shares of Porch Group from a “hold” rating to a “buy” rating in a research report on Saturday, October 31st. B. Riley Financial upped their price objective on shares of Porch Group from $21.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday, October 14th. Craig Hallum set a $25.00 price objective on shares of Porch Group in a report on Thursday, October 29th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Porch Group from $16.25 to $16.50 and gave the company a “market perform” rating in a research note on Thursday, July 30th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $20.79.

Key Stories Impacting Porch Group

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

• Positive Sentiment: A bullish investment commentary says Porch’s homeowner relationships and property data could support growth in insurance-related fee income. It points to the planned Allied Trust acquisition as a potential source of additional customers and distribution relationships. Porch Group: Home Insurance Growth Story
• Negative Sentiment: CEO Matt Ehrlichman sold 465,955 shares in transactions from November 4–6, while COO Matthew Neagle sold 56,250 shares and Director Alan Pickerill sold 10,000 shares. Repeated sales by senior leaders may weigh on investor sentiment. The CEO’s and COO’s trades were made under pre-arranged Rule 10b5-1 plans, and Ehrlichman still owns more than 15.4 million shares, which may temper the signal. CEO SEC filing COO sale report Director sale report

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. grew its holdings in Porch Group by 122.3% during the 3rd quarter. Russell Investments Group Ltd. now owns 605,152 shares of the company’s stock worth $10,082,000 after acquiring an additional 332,985 shares during the last quarter. Fifth Third Bancorp boosted its stake in Porch Group by 83.9% in the third quarter. Fifth Third Bancorp now owns 242,189 shares of the company’s stock valued at $4,035,000 after acquiring an additional 110,493 shares during the last quarter. Jefferies Financial Group Inc. boosted its holdings in Porch Group by 319.3% during the third quarter. Jefferies Financial Group Inc. now owns 113,448 shares of the company’s stock worth $1,890,000 after buying an additional 86,394 shares during the last quarter. Pictet Asset Management Holding SA grew its holdings in Porch Group by 31.2% during the third quarter. Pictet Asset Management Holding SA now owns 14,315 shares of the company’s stock valued at $238,000 after purchasing an additional 3,406 shares during the period. Finally, Calamos Advisors LLC acquired a new position in shares of Porch Group in the 3rd quarter valued at $378,000. Institutional investors and hedge funds own 48.48% of the company’s stock.

About Porch Group

Porch Group, Inc is a technology company that provides software and services for the residential home services industry. Its platform is designed to help businesses manage customer relationships, scheduling, communications, payments, marketing and other operational workflows.

The company serves professionals involved in the home-buying and home-maintenance ecosystem, including home inspection companies and other service providers. Its offerings have included specialized software platforms such as Inspection Support Network and Floify, which support inspection management and mortgage-related workflows, respectively.

Founded in 2012 by Matt Ehrlichman, Porch initially operated as a consumer-focused home improvement marketplace before expanding into vertical software and related services.