Porch Group (NASDAQ:PRCH) CEO Matt Ehrlichman Sells 121,242 Shares

Key Points

• CEO Matt Ehrlichman sold 121,242 shares on April 21 at an average price of $8.12 — part of multiple April sales totaling about 580,434 shares for roughly $4.3M to cover tax withholding from vested awards; he still directly owns 16,928,071 shares (a 0.71% ownership decline).
• Porch Group shares traded down 4.5% to $7.69 on heavy volume; the company has a market cap of about $957M, negative earnings metrics despite a slight quarterly EPS beat, and a consensus analyst rating of "Moderate Buy" with an average target of $17.21.

Porch Group, Inc. (NASDAQ:PRCH - Get Free Report) CEO Matt Ehrlichman sold 121,242 shares of the firm's stock in a transaction that occurred on Tuesday, April 21st. The stock was sold at an average price of $8.12, for a total transaction of $984,485.04. Following the transaction, the chief executive officer directly owned 16,928,071 shares of the company's stock, valued at approximately $137,455,936.52. This trade represents a 0.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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, 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 value of $997,832.88.
• On Thursday, April 9th, Matt Ehrlichman sold 121,293 shares of Porch Group stock. The shares were sold at an average price of $7.15, for a total value of $867,244.95.
• On Tuesday, April 7th, Matt Ehrlichman sold 71,167 shares of Porch Group stock. The shares were sold at an average price of $7.19, for a total value of $511,690.73.
• On Thursday, April 2nd, Matt Ehrlichman sold 6,988 shares of Porch Group stock. The shares were sold at an average price of $6.98, for a total transaction of $48,776.24.

Porch Group Trading Down 4.5%

NASDAQ:PRCH traded down $0.36 on Thursday, reaching $7.69. The stock had a trading volume of 2,422,213 shares, compared to its average volume of 1,552,813. Porch Group, Inc. has a 12-month low of $5.06 and a 12-month high of $19.44. The company has a market cap of $957.11 million, a price-to-earnings ratio of -153.80 and a beta of 3.09. The firm's fifty day moving average is $7.66 and its two-hundred day moving average is $9.59. The company has a debt-to-equity ratio of 17.20, a current ratio of 1.30 and a quick ratio of 1.30.

Porch Group (NASDAQ:PRCH - Get Free Report) last issued its quarterly earnings results on Wednesday, February 11th. The company reported ($0.03) EPS for the quarter, topping analysts' consensus estimates of ($0.08) by $0.05. The business had revenue of $112.25 million during 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%. Equities analysts expect that Porch Group, Inc. will post 0.02 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on PRCH shares. Benchmark restated a "buy" rating on shares of Porch Group in a research report on Friday, January 16th. Keefe, Bruyette & Woods upgraded Porch Group from a "market perform" rating to an "outperform" rating and dropped their target price for the company from $13.00 to $10.50 in a research note on Wednesday, February 11th. Zacks Research upgraded Porch Group from a "strong sell" rating to a "hold" rating in a research note on Friday, March 6th. Finally, Weiss Ratings reiterated a "sell (d+)" rating on shares of Porch Group in a research note on Monday, December 29th. Seven analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Porch Group currently has a consensus rating of "Moderate Buy" and an average target price of $17.21.

Hedge Funds Weigh In On Porch Group

A number of large investors have recently modified their holdings of PRCH. Osbon Capital Management LLC acquired a new stake in Porch Group during the 4th quarter worth approximately $25,000. Aster Capital Management DIFC Ltd grew its stake 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 worth $26,000 after buying an additional 1,377 shares during the period. Larson Financial Group LLC increased its position in shares of 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 acquiring an additional 1,499 shares in the last quarter. Kemnay Advisory Services Inc. purchased a new position in shares of Porch Group in the 4th quarter valued at $38,000. Finally, RiverPark Advisors LLC acquired a new position in shares of Porch Group during the 3rd quarter valued at $39,000. 48.48% of the stock is currently owned by hedge funds and other 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.

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