Porch Group (NASDAQ:PRCH) CEO Sells $1,224,325.55 in Stock

Key Points

• CEO Matt Ehrlichman sold 117,385 shares for $1,224,325.55 on May 5 to cover tax withholding related to vested equity, reducing his stake by 0.71% while still owning 16,447,437 shares (valued at about $171.5M).
• This transaction is part of a broader selling program in April–May in which Ehrlichman sold multiple tranches totaling roughly $8.6M, indicating an ongoing pattern of insider sales.
• Meanwhile, Porch Group recently beat revenue and EPS estimates (Q: $109.44M revenue; EPS -$0.04 vs -$0.10 est.), the stock trades around $11.28, and analysts have a consensus "Moderate Buy" target of about $16.69.

Porch Group, Inc. (NASDAQ:PRCH - Get Free Report) CEO Matt Ehrlichman sold 117,385 shares of the company's stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $10.43, for a total transaction of $1,224,325.55. Following the completion of the sale, the chief executive officer directly owned 16,447,437 shares in the company, valued at $171,546,767.91. This trade represents a 0.71% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 1st, Matt Ehrlichman sold 124,089 shares of Porch Group stock. The shares were 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 shares were 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 shares were 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 shares were 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 shares were 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 shares were sold at an average price of $6.84, for a total transaction 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 transaction 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 transaction 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 Up 1.6%

Shares of NASDAQ:PRCH traded up $0.18 during trading on Thursday, reaching $11.28. The stock had a trading volume of 1,875,613 shares, compared to its average volume of 1,736,951. The business has a fifty day moving average price of $7.82 and a 200-day moving average price of $9.20. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 14.87. The stock has a market cap of $1.40 billion, a P/E ratio of -66.35 and a beta of 3.24. Porch Group, Inc. has a fifty-two week low of $6.36 and a fifty-two week high of $19.44.

Porch Group (NASDAQ:PRCH - Get Free Report) last released its earnings results on Tuesday, April 28th. The company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.10) by $0.06. Porch Group had a negative return on equity of 115.59% and a negative net margin of 3.41%.The firm had revenue of $109.44 million during the quarter, compared to analyst estimates of $94.72 million. As a group, analysts anticipate that Porch Group, Inc. will post -0.04 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on PRCH. Stephens began coverage on shares of Porch Group in a report on Monday. They set an "overweight" rating and a $12.00 price objective on the stock. Keefe, Bruyette & Woods upgraded shares of Porch Group from a "market perform" rating to an "outperform" rating and lowered their target price for the company from $13.00 to $10.50 in a report on Wednesday, February 11th. Benchmark increased their price target on shares of Porch Group from $21.00 to $22.00 and gave the stock a "buy" rating in a research note on Wednesday, April 29th. Finally, Zacks Research raised shares of Porch Group from a "strong sell" rating to a "hold" rating in a research note on Friday, March 6th. Eight research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $16.69.

Hedge Funds Weigh In On Porch Group

A number of large investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP raised its stake in Porch Group by 42.0% during the first quarter. Dimensional Fund Advisors LP now owns 1,540,082 shares of the company's stock worth $11,040,000 after purchasing an additional 455,817 shares during the period. Swiss National Bank raised its stake in Porch Group by 23.4% during the first quarter. Swiss National Bank now owns 165,000 shares of the company's stock worth $1,183,000 after purchasing an additional 31,300 shares during the period. Emerald Mutual Fund Advisers Trust raised its stake in Porch Group by 42.3% during the first quarter. Emerald Mutual Fund Advisers Trust now owns 56,315 shares of the company's stock worth $404,000 after purchasing an additional 16,738 shares during the period. Chicago Partners Investment Group LLC purchased a new position in Porch Group during the first quarter worth approximately $265,000. Finally, Hsbc Holdings PLC purchased a new position in Porch Group during the first quarter worth approximately $266,000. Hedge funds and other institutional investors own 48.48% of the company's stock.

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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