Insider Selling: Porch Group (NASDAQ:PRCH) CEO Sells 6,988 Shares of Stock

Porch Group, Inc. (NASDAQ:PRCH) CEO Matt Ehrlichman sold 6,988 shares of Porch Group stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $6.98, for a total transaction of $48,776.24. Following the completion of the sale, the chief executive officer owned 17,203,688 shares in the company, valued at approximately $120,081,742.24. This trade represents a 0.04% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Porch Group Price Performance

Shares of NASDAQ:PRCH remained flat at $7.51 on Friday. The stock had a trading volume of 689,797 shares, compared to its average volume of 1,076,057. The business has a 50 day moving average price of $7.69 and a 200 day moving average price of $10.64. 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 company has a market capitalization of $934.69 million, a P/E ratio of -150.20 and a beta of 3.09. Porch Group, Inc. has a 1 year low of $4.64 and a 1 year high of $19.44.

Porch Group (NASDAQ:PRCH) last announced its quarterly earnings data on Wednesday, February 11th. The company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.08) by $0.05. The company had revenue of $112.25 million for the quarter, compared to the consensus estimate of $109.13 million. Porch Group had a negative net margin of 0.72% and a negative return on equity of 51.86%. As a group, sell-side analysts anticipate that Porch Group, Inc. will post -0.63 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Weiss Ratings reissued a “sell (d+)” rating on shares of Porch Group in a research report on Monday, December 29th. Keefe, Bruyette & Woods upgraded Porch Group from a “market perform” rating to an “outperform” rating and cut their target price for the company from $13.00 to $10.50 in a research note on Wednesday, February 11th. Benchmark reissued a “buy” rating on shares of Porch Group in a report on Friday, January 16th. Finally, Zacks Research upgraded Porch Group from a “strong sell” rating to a “hold” rating in a research note on Friday, March 6th. Seven equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Porch Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.21.

Institutional Trading of Porch Group

Large investors have recently made changes to their positions in the stock. Osbon Capital Management LLC purchased a new position in shares of Porch Group during the fourth quarter valued at approximately $25,000. Aster Capital Management DIFC Ltd lifted its position in Porch Group by 956.3% during the third quarter. Aster Capital Management DIFC Ltd now owns 1,521 shares of the company’s stock valued at $26,000 after purchasing an additional 1,377 shares during the period. Larson Financial Group LLC boosted its holdings in Porch Group by 444.8% in the third quarter. Larson Financial Group LLC now owns 1,836 shares of the company’s stock worth $31,000 after purchasing an additional 1,499 shares during the last quarter. Kemnay Advisory Services Inc. bought a new stake in Porch Group in the 4th quarter worth approximately $38,000. Finally, RiverPark Advisors LLC bought a new stake in Porch Group in the 3rd quarter worth approximately $39,000. 48.48% of the stock is currently owned by institutional investors.

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.