Porch Group (NASDAQ:PRCH) Stock: Insider Alan Pickerill Sells 10,000 Shares

Porch Group, Inc. (NASDAQ:PRCH) Director Alan Pickerill sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 3rd. The stock was sold at an average price of $21.00, for a total transaction of $210,000.00. Following the transaction, the director owned 193,356 shares in the company, valued at approximately $4,060,476. This trade represents a 4.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Porch Group Stock Down 2.9%

PRCH opened at $19.73 on Friday. The business has a 50-day moving average of $17.57 and a 200-day moving average of $12.32. Porch Group, Inc. has a fifty-two week low of $6.36 and a fifty-two week high of $21.96. The company has a debt-to-equity ratio of 13.21, a current ratio of 1.46 and a quick ratio of 1.46. The company has a market capitalization of $2.60 billion, a PE ratio of 246.62 and a beta of 3.16.

Porch Group (NASDAQ:PRCH) last released its quarterly earnings results on Wednesday, October 28th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.09. Porch Group had a net margin of 1.81% and a return on equity of 39.28%. The firm had revenue of $143.86 million during the quarter, compared to analyst estimates of $134.65 million. Equities research analysts forecast that Porch Group, Inc. will post -0.01 EPS for the current fiscal year.

Trending Headlines about Porch Group

Here are the key news stories impacting Porch Group this week:

• Positive Sentiment: A bullish investment commentary says Porch’s homeowner relationships and property data could support growth in insurance-related fee income. It points to the planned Allied Trust acquisition as a potential source of additional customers and distribution relationships. Porch Group: Home Insurance Growth Story
• Negative Sentiment: CEO Matt Ehrlichman sold 465,955 shares in transactions from November 4–6, while COO Matthew Neagle sold 56,250 shares and Director Alan Pickerill sold 10,000 shares. Repeated sales by senior leaders may weigh on investor sentiment. The CEO’s and COO’s trades were made under pre-arranged Rule 10b5-1 plans, and Ehrlichman still owns more than 15.4 million shares, which may temper the signal. CEO SEC filing COO sale report Director sale report

Wall Street Analyst Weigh In

PRCH has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods boosted their target price on shares of Porch Group from $16.25 to $16.50 and gave the stock a “market perform” rating in a research note on Thursday, July 30th. Zacks Research upgraded Porch Group from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 15th. Cantor Fitzgerald raised their price target on shares of Porch Group from $18.00 to $20.00 and gave the stock an “overweight” rating in a research note on Friday, September 25th. Weiss Ratings raised shares of Porch Group from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, October 21st. Finally, Texas Capital raised Porch Group to a “strong-buy” rating in a research note on Tuesday, September 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $20.79.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Granahan Investment Management LLC increased its holdings in Porch Group by 9.4% in the 1st quarter. Granahan Investment Management LLC now owns 12,674,987 shares of the company’s stock worth $90,880,000 after acquiring an additional 1,084,559 shares in the last quarter. BlackRock Inc. acquired a new stake in shares of Porch Group during the second quarter worth $128,995,000. GC Wealth Management RIA LLC bought a new stake in shares of Porch Group in the 1st quarter valued at approximately $29,230,000. Park West Asset Management LLC purchased a new stake in Porch Group during the second quarter valued at about $53,194,000. Finally, Dimensional Fund Advisors LP boosted its holdings in Porch Group by 42.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,540,082 shares of the company’s stock valued at $11,040,000 after purchasing an additional 455,817 shares during the period. 48.48% of the stock is owned by hedge funds and other institutional investors.

About Porch Group

Porch Group, Inc is a technology company that provides software and services for the residential home services industry. Its platform is designed to help businesses manage customer relationships, scheduling, communications, payments, marketing and other operational workflows.

The company serves professionals involved in the home-buying and home-maintenance ecosystem, including home inspection companies and other service providers. Its offerings have included specialized software platforms such as Inspection Support Network and Floify, which support inspection management and mortgage-related workflows, respectively.

Founded in 2012 by Matt Ehrlichman, Porch initially operated as a consumer-focused home improvement marketplace before expanding into vertical software and related services.