Matt Ehrlichman Sells 6,988 Shares of Porch Group (NASDAQ:PRCH) Stock
by Doug Wharley · The Cerbat GemPorch Group, Inc. (NASDAQ:PRCH – Get Free Report) CEO Matt Ehrlichman sold 6,988 shares of the firm’s stock in a transaction on Thursday, April 2nd. The stock was 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 approximately $120,081,742.24. This trade represents a 0.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Porch Group Price Performance
Porch Group stock remained flat at $7.51 during mid-day trading on Friday. The company had a trading volume of 689,797 shares, compared to its average volume of 1,076,057. Porch Group, Inc. has a 12 month low of $4.64 and a 12 month high of $19.44. The firm’s 50-day simple moving average is $7.69 and its 200-day simple moving average is $10.64. 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 capitalization of $934.69 million, a PE ratio of -150.20 and a beta of 3.09.
Porch Group (NASDAQ:PRCH – Get Free Report) last announced its earnings results on Wednesday, February 11th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.05. The business had revenue of $112.25 million for the quarter, compared to analysts’ expectations of $109.13 million. Porch Group had a negative return on equity of 51.86% and a negative net margin of 0.72%. Equities analysts anticipate that Porch Group, Inc. will post -0.63 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of research firms recently issued reports on PRCH. Weiss Ratings reissued a “sell (d+)” rating on shares of Porch Group in a report on Monday, December 29th. Benchmark reiterated a “buy” rating on shares of Porch Group in a research report on Friday, January 16th. Zacks Research upgraded shares of Porch Group from a “strong sell” rating to a “hold” rating in a research note on Friday, March 6th. Finally, Keefe, Bruyette & Woods raised shares of Porch Group from a “market perform” rating to an “outperform” rating and cut their price objective for the company from $13.00 to $10.50 in a research report on Wednesday, February 11th. Seven analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.21.
Get Our Latest Stock Report on PRCH
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the stock. Granahan Investment Management LLC lifted its position in shares of Porch Group by 20.3% during the 4th quarter. Granahan Investment Management LLC now owns 11,590,428 shares of the company’s stock valued at $105,821,000 after buying an additional 1,953,736 shares in the last quarter. Vanguard Group Inc. raised its stake in Porch Group by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 7,314,207 shares of the company’s stock worth $66,779,000 after acquiring an additional 62,073 shares during the period. Park West Asset Management LLC raised its stake in Porch Group by 131.3% during the 4th quarter. Park West Asset Management LLC now owns 5,050,000 shares of the company’s stock worth $46,106,000 after acquiring an additional 2,867,084 shares during the period. Invesco Ltd. lifted its holdings in Porch Group by 448.4% during the third quarter. Invesco Ltd. now owns 3,795,064 shares of the company’s stock valued at $63,681,000 after purchasing an additional 3,103,018 shares in the last quarter. Finally, Marshall Wace LLP lifted its holdings in Porch Group by 55.2% during the second quarter. Marshall Wace LLP now owns 3,341,484 shares of the company’s stock valued at $39,396,000 after purchasing an additional 1,188,273 shares in the last quarter. 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.