Matt Ehrlichman Sells 6,988 Shares of Porch Group (NASDAQ:PRCH) Stock

Porch Group, Inc. (NASDAQ:PRCH) CEO Matt Ehrlichman sold 6,988 shares of the stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $6.98, for a total value of $48,776.24. Following the completion of the transaction, the chief executive officer owned 17,203,688 shares in the company, valued at $120,081,742.24. The trade was a 0.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Porch Group Price Performance

Shares of PRCH stock opened at $7.51 on Friday. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 17.20. The firm has a market cap of $934.69 million, a price-to-earnings ratio of -150.20 and a beta of 3.09. The stock has a 50-day moving average price of $7.67 and a 200 day moving average price of $10.52. Porch Group, Inc. has a 12 month low of $4.64 and a 12 month high of $19.44.

Porch Group (NASDAQ:PRCH) last issued its quarterly earnings data on Wednesday, February 11th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.05. The firm had revenue of $112.25 million during the quarter, compared to analysts’ expectations of $109.13 million. Porch Group had a negative net margin of 0.72% and a negative return on equity of 51.86%. Research analysts expect that Porch Group, Inc. will post -0.63 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in PRCH. Osbon Capital Management LLC acquired a new stake in Porch Group during the fourth quarter worth approximately $25,000. Aster Capital Management DIFC Ltd raised its holdings in Porch Group by 956.3% in the 3rd quarter. Aster Capital Management DIFC Ltd now owns 1,521 shares of the company’s stock valued at $26,000 after acquiring an additional 1,377 shares in the last quarter. Larson Financial Group LLC lifted its position in shares of Porch Group by 444.8% during the 3rd quarter. Larson Financial Group LLC now owns 1,836 shares of the company’s stock valued at $31,000 after acquiring an additional 1,499 shares during the period. Kemnay Advisory Services Inc. bought a new stake in shares of Porch Group during the 4th quarter valued at $38,000. Finally, RiverPark Advisors LLC acquired a new stake in shares of Porch Group during the 3rd quarter worth $39,000. 48.48% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

About Porch Group

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.