Porch Group (NASDAQ:PRCH) CEO Matt Ehrlichman Sells 194,763 Shares of Company Stock

Porch Group, Inc. (NASDAQ:PRCH) CEO Matt Ehrlichman sold 194,763 shares of the stock in a transaction dated Thursday, November 5th. The stock was sold at an average price of $20.40, for a total transaction of $3,973,165.20. Following the sale, the chief executive officer owned 15,445,242 shares of the company’s stock, valued at $315,082,936.80. This trade represents a 1.25% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, 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 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 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 shares were 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 shares were 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 stock was sold at an average price of $16.84, for a total transaction of $251,690.64.

Porch Group Price Performance

Porch Group stock traded down $0.58 during trading hours on Friday, hitting $19.73. 1,253,184 shares of the stock were exchanged, compared to its average volume of 1,758,051. The company has a debt-to-equity ratio of 13.21, a quick ratio of 1.46 and a current ratio of 1.46. The stock has a market capitalization of $2.60 billion, a P/E ratio of 246.62 and a beta of 3.16. Porch Group, Inc. has a 12 month low of $6.36 and a 12 month high of $21.96. The business’s 50-day moving average is $17.53 and its two-hundred day moving average is $12.26.

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

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on PRCH. Weiss Ratings raised Porch Group from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, October 21st. B. Riley Financial lifted their target price on Porch Group from $21.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday, October 14th. Oppenheimer increased their target price on Porch Group from $20.00 to $25.00 and gave the stock an “outperform” rating in a research note on Thursday, October 29th. Benchmark raised their target price on shares of Porch Group from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Finally, Zacks Research raised shares of Porch Group from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 15th. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $20.79.

Porch Group News Summary

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 Trading of Porch Group

A number of institutional investors have recently modified their holdings of the company. Russell Investments Group Ltd. boosted its position in shares of Porch Group by 122.3% during the third quarter. Russell Investments Group Ltd. now owns 605,152 shares of the company’s stock worth $10,082,000 after buying an additional 332,985 shares during the period. Fifth Third Bancorp grew its holdings in shares of Porch Group by 83.9% during the third quarter. Fifth Third Bancorp now owns 242,189 shares of the company’s stock worth $4,035,000 after buying an additional 110,493 shares in the last quarter. Jefferies Financial Group Inc. raised its position in Porch Group by 319.3% in the 3rd quarter. Jefferies Financial Group Inc. now owns 113,448 shares of the company’s stock valued at $1,890,000 after buying an additional 86,394 shares during the last quarter. Pictet Asset Management Holding SA raised its position in Porch Group by 31.2% in the 3rd quarter. Pictet Asset Management Holding SA now owns 14,315 shares of the company’s stock valued at $238,000 after buying an additional 3,406 shares during the last quarter. Finally, Calamos Advisors LLC bought a new stake in Porch Group in the 3rd quarter valued at approximately $378,000. 48.48% of the stock is currently owned by institutional investors.

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.