Key Points
- Porch Group CEO Matt Ehrlichman sold 113,862 shares on April 17 at an average price of $7.87 for about $896,094, and the filing says the sale was made to cover tax withholding on vested equity awards.
- Ehrlichman sold roughly 459,192 shares in early April for approximately $3.32M total, but still directly owns 17,049,313 shares (a ~0.66% reduction, valued around $134.18M).
Porch Group, Inc. (NASDAQ:PRCH - Get Free Report) CFO Shawn Tabak sold 8,367 shares of the stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of $7.87, for a total value of $65,848.29. Following the transaction, the chief financial officer directly owned 390,289 shares of the company's stock, valued at approximately $3,071,574.43. This trade represents a 2.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 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 14th, Shawn Tabak sold 17,697 shares of Porch Group stock. The stock was sold at an average price of $6.84, for a total value of $121,047.48.
- On Thursday, April 9th, Shawn Tabak sold 7,734 shares of Porch Group stock. The stock was sold at an average price of $7.15, for a total value of $55,298.10.
- On Tuesday, April 7th, Shawn Tabak sold 9,344 shares of Porch Group stock. The stock was sold at an average price of $7.19, for a total value of $67,183.36.
Porch Group Stock Performance
Shares of PRCH stock opened at $7.95 on Wednesday. The company has a market cap of $989.46 million, a price-to-earnings ratio of -159.00 and a beta of 3.09. The stock has a 50 day simple moving average of $7.65 and a 200-day simple moving average of $9.60. Porch Group, Inc. has a 12-month low of $4.68 and a 12-month high of $19.44. 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, topping the consensus estimate of ($0.08) by $0.05. The business had revenue of $112.25 million for the quarter, compared to analyst estimates of $109.13 million. Porch Group had a negative return on equity of 51.86% and a negative net margin of 0.72%. On average, equities analysts forecast that Porch Group, Inc. will post 0.02 EPS for the current year.
Institutional Investors Weigh In On Porch Group
Several institutional investors have recently modified their holdings of PRCH. JPMorgan Chase & Co. lifted its stake in Porch Group by 95.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 924,180 shares of the company's stock valued at $15,508,000 after buying an additional 450,560 shares in the last quarter. Vanguard Group Inc. lifted its stake in Porch Group by 5.6% in the 3rd quarter. Vanguard Group Inc. now owns 7,252,134 shares of the company's stock valued at $121,691,000 after buying an additional 384,451 shares in the last quarter. Harbor Capital Advisors Inc. lifted its stake in Porch Group by 68.9% in the 4th quarter. Harbor Capital Advisors Inc. now owns 388,299 shares of the company's stock valued at $3,545,000 after buying an additional 158,368 shares in the last quarter. Algert Global LLC lifted its stake in Porch Group by 2,254.1% in the 3rd quarter. Algert Global LLC now owns 759,664 shares of the company's stock valued at $12,747,000 after buying an additional 727,394 shares in the last quarter. Finally, Tudor Investment Corp ET AL lifted its stake in Porch Group by 1,897.9% in the 3rd quarter. Tudor Investment Corp ET AL now owns 255,511 shares of the company's stock valued at $4,287,000 after buying an additional 242,722 shares in the last quarter. Hedge funds and other institutional investors own 48.48% of the company's stock.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently commented on PRCH shares. Benchmark reissued a "buy" rating on shares of Porch Group in a research note on Friday, January 16th. Zacks Research raised Porch Group from a "strong sell" rating to a "hold" rating in a research note on Friday, March 6th. Keefe, Bruyette & Woods raised Porch Group from a "market perform" rating to an "outperform" rating and decreased their price target for the stock from $13.00 to $10.50 in a research note on Wednesday, February 11th. Finally, Weiss Ratings reissued 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 issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $17.21.
View Our Latest Stock Report on PRCH
About Porch Group
(
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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