Matt Ehrlichman Sells 120,368 Shares of Porch Group (NASDAQ:PRCH) Stock

Porch Group, Inc. (NASDAQ:PRCH) CEO Matt Ehrlichman sold 120,368 shares of Porch Group stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $9.78, for a total value of $1,177,199.04. Following the sale, the chief executive officer directly owned 15,972,080 shares in the company, valued at approximately $156,206,942.40. This trade represents a 0.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 Friday, May 15th, Matt Ehrlichman sold 115,805 shares of Porch Group stock. The stock was sold at an average price of $10.34, for a total value of $1,197,423.70.
• On Tuesday, May 12th, Matt Ehrlichman sold 122,881 shares of Porch Group stock. The stock was sold at an average price of $10.52, for a total value of $1,292,708.12.
• On Friday, May 8th, Matt Ehrlichman sold 116,303 shares of Porch Group stock. The stock was sold at an average price of $11.12, for a total value of $1,293,289.36.
• On Tuesday, May 5th, Matt Ehrlichman sold 117,385 shares of Porch Group stock. The stock was sold at an average price of $10.43, for a total value of $1,224,325.55.
• On Friday, May 1st, Matt Ehrlichman sold 124,089 shares of Porch Group stock. The stock was sold at an average price of $9.79, for a total transaction of $1,214,831.31.
• On Tuesday, April 28th, Matt Ehrlichman sold 115,642 shares of Porch Group stock. The stock was sold at an average price of $8.11, for a total transaction of $937,856.62.
• On Friday, April 24th, Matt Ehrlichman sold 123,518 shares of Porch Group stock. The stock was sold at an average price of $7.68, for a total transaction of $948,618.24.
• On Tuesday, April 21st, Matt Ehrlichman sold 121,242 shares of Porch Group stock. The stock was sold at an average price of $8.12, for a total transaction of $984,485.04.
• On Friday, April 17th, Matt Ehrlichman sold 113,862 shares of Porch Group stock. The stock was sold at an average price of $7.87, for a total transaction of $896,093.94.
• On Tuesday, April 14th, Matt Ehrlichman sold 145,882 shares of Porch Group stock. The stock was sold at an average price of $6.84, for a total transaction of $997,832.88.

Porch Group Stock Down 1.8%

Shares of PRCH opened at $9.56 on Friday. The stock has a market cap of $1.22 billion, a price-to-earnings ratio of -56.23 and a beta of 3.24. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 14.87. Porch Group, Inc. has a 12 month low of $6.36 and a 12 month high of $19.44. The company has a 50-day moving average price of $8.37 and a two-hundred day moving average price of $8.79.

Porch Group (NASDAQ:PRCH) last announced its quarterly earnings results on Tuesday, April 28th. The company reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.06. The firm had revenue of $109.44 million during the quarter, compared to analysts’ expectations of $94.72 million. Porch Group had a negative net margin of 3.41% and a negative return on equity of 115.59%. Equities analysts predict that Porch Group, Inc. will post -0.04 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. Granahan Investment Management LLC raised its stake in shares of Porch Group by 9.4% in the first quarter. Granahan Investment Management LLC now owns 12,674,987 shares of the company’s stock valued at $90,880,000 after acquiring an additional 1,084,559 shares during the last quarter. Vanguard Group Inc. raised its position in Porch Group by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 7,314,207 shares of the company’s stock worth $66,779,000 after purchasing an additional 62,073 shares during the last quarter. Park West Asset Management LLC raised its position in Porch Group by 131.3% in the 4th quarter. Park West Asset Management LLC now owns 5,050,000 shares of the company’s stock worth $46,106,000 after purchasing an additional 2,867,084 shares during the last quarter. GC Wealth Management RIA LLC bought a new position in Porch Group in the 1st quarter worth approximately $29,230,000. Finally, Invesco Ltd. raised its position in Porch Group by 448.4% in the 3rd quarter. Invesco Ltd. now owns 3,795,064 shares of the company’s stock worth $63,681,000 after purchasing an additional 3,103,018 shares during the last quarter. Institutional investors own 48.48% of the company’s stock.

Wall Street Analysts Forecast Growth

PRCH has been the subject of a number of analyst reports. Keefe, Bruyette & Woods upgraded shares of Porch Group from a “market perform” rating to an “outperform” rating and cut their price target for the stock from $13.00 to $10.50 in a research note on Wednesday, February 11th. Stephens assumed coverage on shares of Porch Group in a research note on Monday, May 4th. They issued an “overweight” rating and a $12.00 target price for the company. Zacks Research upgraded shares of Porch Group from a “strong sell” rating to a “hold” rating in a research note on Friday, March 6th. Finally, Benchmark lifted their target price on shares of Porch Group from $21.00 to $22.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Seven analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus 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.