Key Points
- CEO Matt Ehrlichman sold 121,293 shares on April 9 at an average price of $7.15 to cover tax withholdings, reducing his ownership by 0.70% but still directly holding 17,309,057 shares valued at about $123.8 million.
- Other senior executives (COO Matthew Neagle and CFO Shawn Tabak) also made sales to cover taxes, a pattern that added selling pressure as the stock traded down roughly 3.7% (opened at $6.76).
- Operationally, Porch beat February quarter estimates (EPS -$0.03 vs. -$0.08; revenue $112.25M vs. $109.13M) but remains unprofitable, while analysts show a consensus "Moderate Buy" with a ~$17.21 price target.
Porch Group, Inc. (NASDAQ:PRCH - Get Free Report) CFO Shawn Tabak sold 7,734 shares of the company's stock in a transaction dated Thursday, April 9th. The shares were sold at an average price of $7.15, for a total value of $55,298.10. Following the completion of the sale, the chief financial officer directly owned 416,353 shares of the company's stock, valued at approximately $2,976,923.95. This trade represents a 1.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Shawn Tabak also recently made the following trade(s):
- On Tuesday, April 7th, Shawn Tabak sold 9,344 shares of Porch Group stock. The shares were sold at an average price of $7.19, for a total value of $67,183.36.
Porch Group Stock Down 3.7%
Shares of NASDAQ PRCH opened at $6.76 on Friday. The stock has a market cap of $841.35 million, a PE ratio of -135.20 and a beta of 3.09. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 17.20. Porch Group, Inc. has a 52-week low of $4.64 and a 52-week high of $19.44. The business has a 50-day moving average price of $7.59 and a 200 day moving average price of $10.18.
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, 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 return on equity of 51.86% and a negative net margin of 0.72%. Equities research analysts forecast that Porch Group, Inc. will post -0.63 earnings per share for the current year.
Key Headlines Impacting Porch Group
Here are the key news stories impacting Porch Group this week:
- Positive Sentiment: Recent quarterly results still show positive momentum: Porch posted an EPS beat and revenue above estimates in its Feb quarter, which supports the company’s recovery narrative and underpins analyst bullishness. MarketBeat PRCH
- Neutral Sentiment: Analyst coverage remains mixed but tilted positive — MarketBeat shows a consensus "Moderate Buy" and a multi-analyst price-target gap (consensus ~ $17.21), which can support upside if execution continues. Analyst Coverage
- Neutral Sentiment: The report lists short-interest as zero with days-to-cover 0.0 — this appears to be a data anomaly and should not be read as meaningful market positioning without confirmation from an exchange/official short-interest file.
- Negative Sentiment: CEO Matt Ehrlichman sold 121,293 shares at an average ~$7.15 (4/9 filing) to cover tax withholding from vested awards; his stake still remains large. CEO Form 4
- Negative Sentiment: COO Matthew Neagle sold 62,827 shares at ~ $7.15 (4/9 filing); the company says these sales were to cover tax withholding on vested equity. COO Form 4
- Negative Sentiment: CFO Shawn Tabak reported multiple small sales (7,734 shares on 4/9 and 9,344 shares on 4/7) at roughly $7.15–$7.19 to cover tax withholding; these are routine but add selling pressure. CFO Form 4
Analyst Ratings Changes
A number of analysts recently issued reports on PRCH shares. Keefe, Bruyette & Woods raised Porch Group from a "market perform" rating to an "outperform" rating and decreased their target price for the company from $13.00 to $10.50 in a research report on Wednesday, February 11th. Zacks Research raised Porch Group from a "strong sell" rating to a "hold" rating in a research report on Friday, March 6th. Weiss Ratings reissued a "sell (d+)" rating on shares of Porch Group in a research report on Monday, December 29th. Finally, Benchmark reissued a "buy" rating on shares of Porch Group in a research report on Friday, January 16th. Seven investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Porch Group has an average rating of "Moderate Buy" and an average target price of $17.21.
Read Our Latest Report on Porch Group
Institutional Trading of Porch Group
Several institutional investors and hedge funds have recently added to or reduced their stakes in PRCH. Invesco Ltd. raised its stake in Porch Group by 448.4% during the 3rd quarter. Invesco Ltd. now owns 3,795,064 shares of the company's stock valued at $63,681,000 after acquiring an additional 3,103,018 shares during the last quarter. 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 valued at $46,106,000 after acquiring an additional 2,867,084 shares during the last quarter. Granahan Investment Management LLC raised its stake in 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 acquiring an additional 1,953,736 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Porch Group by 264.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,084,265 shares of the company's stock valued at $9,899,000 after acquiring an additional 786,583 shares during the last quarter. Finally, Wellington Management Group LLP purchased a new stake in Porch Group during the 3rd quarter valued at approximately $12,747,000. 48.48% of the stock is owned by hedge funds and other institutional investors.
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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