Porch Group (NASDAQ:PRCH) CEO Matt Ehrlichman Sells 109,043 Shares of Company Stock

Porch Group, Inc. (NASDAQ:PRCH) CEO Matt Ehrlichman sold 109,043 shares of the firm’s stock in a transaction that occurred on Monday, November 9th. The shares were sold at an average price of $20.15, for a total transaction of $2,197,216.45. Following the transaction, the chief executive officer directly owned 15,316,747 shares in the company, valued at approximately $308,632,452.05. The trade was a 0.71% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at 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 Friday, November 6th, Matt Ehrlichman sold 19,452 shares of Porch Group stock. The shares were sold at an average price of $20.17, for a total transaction of $392,346.84.
• On Thursday, November 5th, Matt Ehrlichman sold 194,763 shares of Porch Group stock. The stock was 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 stock was 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 transaction of $251,690.64.

Porch Group Stock Up 6.3%

Porch Group stock opened at $21.95 on Wednesday. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 13.21. Porch Group, Inc. has a 1-year low of $6.36 and a 1-year high of $22.36. The firm’s fifty day simple moving average is $17.74 and its 200-day simple moving average is $12.45. The company has a market capitalization of $2.91 billion, a P/E ratio of 274.38 and a beta of 3.16.

Porch Group (NASDAQ:PRCH) last issued its quarterly earnings data on Wednesday, October 28th. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.09. The firm had revenue of $143.86 million during the quarter, compared to analysts’ expectations of $134.65 million. Porch Group had a net margin of 1.81% and a return on equity of 39.28%. Sell-side analysts forecast that Porch Group, Inc. will post -0.01 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

PRCH has been the subject of several recent analyst reports. B. Riley Financial upped their price target on Porch Group from $21.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday, October 14th. Texas Capital raised Porch Group to a “strong-buy” rating in a research note on Tuesday, September 22nd. Craig Hallum set a $25.00 target price on Porch Group in a report on Thursday, October 29th. Weiss Ratings raised Porch Group from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, October 21st. Finally, Oppenheimer upped their target price on Porch Group from $20.00 to $25.00 and gave the stock an “outperform” rating in a research report on Thursday, October 29th. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $20.79.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Osbon Capital Management LLC acquired a new position in Porch Group during the 2nd quarter worth $40,000. State of Wyoming bought a new stake in Porch Group during the second quarter valued at about $64,000. Persistent Asset Partners Ltd bought a new stake in Porch Group during the second quarter valued at about $103,000. Integrated Wealth Concepts LLC acquired a new stake in shares of Porch Group in the second quarter valued at about $138,000. Finally, PNC Financial Services Group Inc. grew its position in shares of Porch Group by 697.8% in the first quarter. PNC Financial Services Group Inc. now owns 9,390 shares of the company’s stock valued at $67,000 after purchasing an additional 8,213 shares during the last quarter. Institutional investors own 48.48% of the company’s stock.

Porch Group Company Profile

Porch Group, Inc. is a technology company that provides software and services for the homeownership market. Its platform serves home-service professionals and related businesses, including home inspectors, and offers tools for managing operations, customer relationships, scheduling and business growth. The company also provides insurance products and services for homeowners and works with real estate and mortgage professionals. Its offerings include software for home inspectors and mortgage companies, alongside insurance capabilities that support customers through the homebuying and homeownership process.