Key Points
- CEO Matt Ehrlichman sold 121,242 shares on April 21 at an average price of $8.12 for about $984,485, lowering his stake by 0.71% to 16,928,071 shares; the company says the sale was to cover tax withholding on vested awards.
- Ehrlichman also sold multiple tranches earlier in April (Apr 2, 7, 9, 14, 17), amounting to roughly $4.3 million in total, and analysts note the volume of insider selling as a likely driver of the stock's recent weakness.
- Porch Group shares opened near $7.69 and are down about 4.5%, trading below the 200-day moving average; the company reported a slight EPS and revenue beat last quarter but remains unprofitable, while analysts hold a Moderate Buy consensus with a $17.21 target.
Porch Group, Inc. (NASDAQ:PRCH - Get Free Report) CFO Shawn Tabak sold 7,730 shares of the business's stock in a transaction that occurred on Tuesday, April 21st. The stock was sold at an average price of $8.12, for a total value of $62,767.60. Following the sale, the chief financial officer directly owned 382,559 shares in the company, valued at approximately $3,106,379.08. The trade was a 1.98% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 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 Friday, April 17th, Shawn Tabak sold 8,367 shares of Porch Group stock. The stock was sold at an average price of $7.87, for a total value of $65,848.29.
- On Tuesday, April 14th, Shawn Tabak sold 17,697 shares of Porch Group stock. The shares were 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 shares were 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 Down 4.5%
PRCH opened at $7.69 on Friday. The company has a debt-to-equity ratio of 17.20, a quick ratio of 1.30 and a current ratio of 1.30. The company has a market capitalization of $957.10 million, a PE ratio of -153.80 and a beta of 3.09. The stock's fifty day moving average is $7.64 and its 200-day moving average is $9.58. Porch Group, Inc. has a one year low of $5.06 and a one year high of $19.44.
Porch Group (NASDAQ:PRCH - Get Free Report) last announced its earnings results on Wednesday, February 11th. The company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.05. The business 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%. On average, equities analysts predict that Porch Group, Inc. will post 0.02 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
Several equities analysts have recently issued reports on PRCH shares. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Porch Group in a research note on Monday, December 29th. Benchmark restated a "buy" rating on shares of Porch Group in a report on Friday, January 16th. Zacks Research upgraded shares of Porch Group from a "strong sell" rating to a "hold" rating in a research report on Friday, March 6th. Finally, Keefe, Bruyette & Woods raised Porch Group from a "market perform" rating to an "outperform" rating and dropped their price target for the company from $13.00 to $10.50 in a report on Wednesday, February 11th. Seven equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $17.21.
View Our Latest Stock Analysis on PRCH
More Porch Group News
Here are the key news stories impacting Porch Group this week:
- Positive Sentiment: Analysts maintain bullish tilt — Street consensus is a "Moderate Buy," which supports demand and gives the stock fundamental cover against short-term weakness. Analyst Consensus
- Positive Sentiment: Institutional ownership has risen: recent filings cited in analyst coverage show firms like Vanguard and JPMorgan increasing stakes, which can provide a stabilizing base for the stock. MarketBeat PRCH
- Neutral Sentiment: Market attention and trading activity have picked up — coverage notes increased interest and volatility in the technology/home-services sector that includes Porch; this can amplify moves in either direction but does not by itself change fundamentals. KalkineMedia
- Negative Sentiment: Significant insider selling reported — CEO Matt Ehrlichman sold sizeable tranches (including ~113,862 shares and a separate ~121,242-share sale), the COO and CFO also sold shares in recent filings. While company disclosures say many sales were to cover tax withholding on vested awards, the volume of insider sales can be perceived negatively and is likely a material factor driving today's decline. AmericanBankingNews: Insider Selling InsiderTrades Alert
Hedge Funds Weigh In On Porch Group
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Granahan Investment Management LLC increased its stake in Porch Group by 20.3% in the 4th quarter. Granahan Investment Management LLC now owns 11,590,428 shares of the company's stock worth $105,821,000 after purchasing an additional 1,953,736 shares in the last quarter. Vanguard Group Inc. lifted its stake in Porch Group by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 7,314,207 shares of the company's stock valued at $66,779,000 after buying an additional 62,073 shares in the last quarter. Park West Asset Management LLC lifted its stake in Porch Group by 131.3% during the fourth quarter. Park West Asset Management LLC now owns 5,050,000 shares of the company's stock valued at $46,106,000 after buying an additional 2,867,084 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of Porch Group by 448.4% in the third quarter. Invesco Ltd. now owns 3,795,064 shares of the company's stock worth $63,681,000 after buying an additional 3,103,018 shares during the period. Finally, Divisadero Street Capital Management LP increased its position in shares of Porch Group by 6.7% in the third quarter. Divisadero Street Capital Management LP now owns 2,606,883 shares of the company's stock worth $43,743,000 after acquiring an additional 163,271 shares in the last quarter. Institutional investors and hedge funds own 48.48% of the company's stock.
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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