Key Points
- CEO Matt Ehrlichman sold 6,988 shares on April 2 at an average price of $6.98 for about $48,776, but still directly owns 17,203,688 shares (a 0.04% reduction in his position).
- Porch Group beat Q4 estimates with EPS of ($0.03) versus ($0.08) and revenue of $112.25M, yet remains unprofitable with a negative net margin and ROE while the stock trades around $7.50 with a market cap near $935M.
- The stock has a consensus rating of "Moderate Buy" with a $17.21 average target, and roughly 48.5% of shares are held by institutional investors.
Porch Group, Inc. (NASDAQ:PRCH - Get Free Report) CEO Matt Ehrlichman sold 6,988 shares of the business's stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 17,203,688 shares in the company, valued at $120,081,742.24. This trade represents a 0.04% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
Porch Group Price Performance
NASDAQ:PRCH opened at $7.51 on Friday. The stock has a market capitalization of $934.69 million, a PE ratio of -150.20 and a beta of 3.09. Porch Group, Inc. has a 1-year low of $4.64 and a 1-year high of $19.44. The firm has a fifty day simple moving average of $7.67 and a 200 day simple moving average of $10.57. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 17.20.
Porch Group (NASDAQ:PRCH - Get Free Report) last announced its quarterly earnings results on Wednesday, February 11th. The company reported ($0.03) 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%. On average, research analysts expect that Porch Group, Inc. will post -0.63 EPS for the current fiscal year.
Institutional Trading of Porch Group
A number of hedge funds have recently made changes to their positions in PRCH. Aster Capital Management DIFC Ltd grew its holdings in shares of 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 purchasing an additional 1,377 shares during the last quarter. Larson Financial Group LLC raised its holdings in Porch Group by 444.8% in the 3rd quarter. Larson Financial Group LLC now owns 1,836 shares of the company's stock valued at $31,000 after buying an additional 1,499 shares during the last quarter. RiverPark Advisors LLC acquired a new stake in Porch Group during the 3rd quarter worth approximately $39,000. Osbon Capital Management LLC acquired a new stake in Porch Group during the 4th quarter worth approximately $25,000. Finally, Kemnay Advisory Services Inc. bought a new stake in Porch Group during the 4th quarter worth approximately $38,000. 48.48% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of brokerages have weighed in on PRCH. Benchmark reissued 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 reduced their target price for the stock from $13.00 to $10.50 in a research note on Wednesday, February 11th. Weiss Ratings restated a "sell (d+)" rating on shares of Porch Group in a research note on Monday, December 29th. Finally, Zacks Research raised shares of Porch Group from a "strong sell" rating to a "hold" rating in a research report on Friday, March 6th. Seven research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $17.21.
Read Our Latest Stock Analysis on PRCH
Porch Group Company Profile
(
Get Free Report)
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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