Porch Group, Inc. (NASDAQ:PRCH – Get Free Report) CEO Matt Ehrlichman sold 194,763 shares of the stock in a transaction that occurred on Thursday, November 5th. The shares were sold at an average price of $20.40, for a total transaction of $3,973,165.20. Following the completion of the transaction, the chief executive officer owned 15,445,242 shares in the company, valued at $315,082,936.80. This represents a 1.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 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 stock was 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 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 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 shares were sold at an average price of $16.84, for a total value of $251,690.64.
Porch Group Stock Performance
PRCH stock opened at $19.73 on Friday. The business’s fifty day moving average is $17.57 and its 200-day moving average is $12.32. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 13.21. The company has a market cap of $2.60 billion, a P/E ratio of 246.62 and a beta of 3.16. Porch Group, Inc. has a twelve month low of $6.36 and a twelve month high of $21.96.
Porch Group (NASDAQ:PRCH – Get Free Report) last announced its quarterly earnings data on Wednesday, October 28th. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.09. Porch Group had a return on equity of 39.28% and a net margin of 1.81%. The business had revenue of $143.86 million during the quarter, compared to analysts’ expectations of $134.65 million. Equities research analysts forecast that Porch Group, Inc. will post -0.01 EPS for the current year.
Hedge Funds Weigh In On Porch Group
Large investors have recently added to or reduced their stakes in the company. Granahan Investment Management LLC lifted its holdings 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 purchasing an additional 1,084,559 shares in the last quarter. BlackRock Inc. bought a new position in shares of Porch Group during the second quarter worth about $128,995,000. GC Wealth Management RIA LLC bought a new position in shares of Porch Group during the first quarter worth about $29,230,000. Park West Asset Management LLC bought a new position in shares of Porch Group during the second quarter worth about $53,194,000. Finally, Dimensional Fund Advisors LP raised its position in Porch Group by 42.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,540,082 shares of the company’s stock valued at $11,040,000 after buying an additional 455,817 shares during the last quarter. Institutional investors own 48.48% of the company’s stock.
Analysts Set New Price Targets
A number of equities analysts have issued reports on PRCH shares. Zacks Research upgraded Porch Group from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 15th. Oppenheimer upped their price target on Porch Group from $20.00 to $25.00 and gave the company an “outperform” rating in a research note on Thursday, October 29th. Benchmark increased their price target 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 price target on shares of Porch Group in a research report on Thursday, October 29th. Finally, Wall Street Zen raised shares of Porch Group from a “hold” rating to a “buy” rating in a research note on Saturday, October 31st. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $20.79.
Check Out Our Latest Analysis on Porch Group
Key Headlines Impacting Porch Group
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
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.
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