Porch Group, Inc. (NASDAQ:PRCH) disclosed that its Chief Executive Officer, Chairman, and Founder, Matt Ehrlichman, sold 109,043 shares of the company's common stock on November 9, 2026. The transactions amounted to $2,197,554, with shares sold at a weighted average price of $20.1531, within a range of $20.00 to $20.51 per share.
The sale was executed under a Rule 10b5-1 trading plan that Ehrlichman adopted on August 8, 2025. According to the filing, the plan was established for personal tax planning purposes and to satisfy tax obligations. The trading plan covered the sale of up to 584,998 shares of Porch Group common stock. With this latest transaction, all shares covered by the plan have been sold, and the plan has terminated.
The transaction comes as Porch Group's stock trades near its 52-week high of $22.36, following a remarkable 108% gain over the past year. According to InvestingPro analysis, the stock currently appears overvalued relative to its Fair Value.
Following the reported transaction, Ehrlichman continues to beneficially own 21,057,053 shares of Porch Group common stock. This represents approximately 18.4% of the Issuer's outstanding common stock and includes 6,416,712 shares held by West Equities, LLC, over which Ehrlichman has sole voting and dispositive power. This beneficial ownership figure excludes 676,406 restricted stock units that are scheduled to vest more than 60 days after the filing date.
In other recent developments, Porch Group reported impressive third-quarter 2026 earnings and revenue results, significantly surpassing Wall Street's expectations. The company posted adjusted earnings of $0.10 per share, exceeding the forecasted $0.01 per share. Revenue reached $143.86 million, beating the projected $133.44 million. This performance led Porch Group to raise its full-year outlook, highlighting the continued scaling of its core Insurance Services business with strong margins.
StoneX responded to these strong results by raising its price target for Porch Group to $30 from $23, maintaining a Buy rating. The company's revenue of $140.8 million marked a 22% year-over-year increase, and its adjusted EBITDA more than doubled from the prior year, surpassing consensus expectations by 43%. These developments reflect Porch Group's solid financial health and growth trajectory, capturing the attention of investors and analysts alike.