Porch Group, Inc. (NASDAQ:PRCH – Get Free Report) CEO Matt Ehrlichman sold 10,000 shares of the company’s stock in a transaction on Tuesday, November 3rd. The stock was sold at an average price of $21.51, for a total transaction of $215,100.00. Following the sale, the chief executive officer directly owned 15,891,745 shares of the company’s stock, valued at approximately $341,831,434.95. This represents a 0.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Matt Ehrlichman also recently made the following trade(s):
- 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 value of $251,690.64.
Porch Group Price Performance
Shares of NASDAQ:PRCH opened at $20.31 on Friday. The business has a 50 day moving average price of $17.53 and a 200 day moving average price of $12.26. Porch Group, Inc. has a twelve month low of $6.36 and a twelve month high of $21.96. The company has a market cap of $2.68 billion, a price-to-earnings ratio of 253.87 and a beta of 3.16. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 13.21.
Porch Group (NASDAQ:PRCH – Get Free Report) last issued its quarterly 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 company had revenue of $143.86 million for the quarter, compared to the consensus estimate of $134.65 million. Research analysts predict that Porch Group, Inc. will post -0.01 earnings per share for the current year.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently bought and sold shares of the company. Fifth Third Bancorp raised its holdings in shares of Porch Group by 83.9% in the 3rd 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. lifted its position in shares of Porch Group by 319.3% during the 3rd 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 period. Pictet Asset Management Holding SA boosted its stake 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 in the last quarter. Calamos Advisors LLC acquired a new stake in Porch Group in the 3rd quarter valued at $378,000. Finally, Integrity Alliance LLC. acquired a new stake in Porch Group in the 3rd quarter valued at $732,000. 48.48% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of analysts have weighed in on PRCH shares. Wall Street Zen raised shares of Porch Group from a “hold” rating to a “buy” rating in a report on Saturday, October 31st. Weiss Ratings upgraded shares of Porch Group from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, October 21st. Benchmark upped their price objective on shares of Porch Group from $22.00 to $23.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Craig Hallum set a $25.00 target price on shares of Porch Group in a research note on Thursday, October 29th. Finally, Zacks Research upgraded shares of Porch Group from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 15th. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $20.79.
Get Our Latest Research Report on Porch Group
Porch Group Company Profile
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.
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