Savant Capital LLC Makes New Investment in Porch Group, Inc. $PRCH

Savant Capital LLC acquired a new position in shares of Porch Group, Inc. (NASDAQ:PRCH) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 14,746 shares of the company’s stock, valued at approximately $174,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Hennessy Advisors Inc. bought a new position in Porch Group during the 2nd quarter worth about $19,607,000. Monashee Investment Management LLC bought a new position in shares of Porch Group during the first quarter worth about $11,300,000. Driehaus Capital Management LLC raised its position in Porch Group by 84.6% in the 1st quarter. Driehaus Capital Management LLC now owns 3,208,312 shares of the company’s stock valued at $23,389,000 after buying an additional 1,470,580 shares during the last quarter. Invesco Ltd. lifted its stake in Porch Group by 72.2% in the 1st quarter. Invesco Ltd. now owns 2,896,237 shares of the company’s stock valued at $21,114,000 after acquiring an additional 1,213,951 shares in the last quarter. Finally, Acadian Asset Management LLC boosted its position in Porch Group by 92.5% during the 1st quarter. Acadian Asset Management LLC now owns 1,619,752 shares of the company’s stock worth $11,800,000 after acquiring an additional 778,240 shares during the last quarter. 48.48% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

PRCH has been the topic of a number of recent research reports. Benchmark reiterated a “buy” rating on shares of Porch Group in a report on Thursday, October 30th. Keefe, Bruyette & Woods lifted their price target on shares of Porch Group from $7.00 to $16.00 and gave the company a “market perform” rating in a research note on Wednesday, August 13th. Cantor Fitzgerald restated an “overweight” rating and set a $20.00 price objective on shares of Porch Group in a research note on Tuesday, September 2nd. B. Riley restated a “buy” rating on shares of Porch Group in a report on Thursday, November 6th. Finally, Zacks Research lowered Porch Group from a “hold” rating to a “strong sell” rating in a research report on Wednesday, November 5th. Eight analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, Porch Group has a consensus rating of “Moderate Buy” and a consensus target price of $16.00.

Porch Group Price Performance

Shares of NASDAQ PRCH opened at $9.11 on Friday. The firm has a market cap of $1.13 billion, a P/E ratio of 31.41 and a beta of 2.84. The business’s 50 day moving average is $14.98 and its 200-day moving average is $13.55. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 36.18. Porch Group, Inc. has a 1-year low of $3.40 and a 1-year high of $19.44.

Porch Group (NASDAQ:PRCH) last announced its earnings results on Wednesday, November 5th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.02). The business had revenue of $118.08 million during the quarter, compared to the consensus estimate of $114.42 million. Porch Group had a net margin of 6.91% and a negative return on equity of 51.86%. Porch Group has set its FY 2025 guidance at EPS. Equities research analysts predict that Porch Group, Inc. will post -0.63 earnings per share for the current year.

Insider Buying and Selling at Porch Group

In related news, Director Amanda L. Reierson sold 50,000 shares of the company’s stock in a transaction on Friday, September 12th. The stock was sold at an average price of $17.67, for a total transaction of $883,500.00. Following the completion of the sale, the director directly owned 151,375 shares in the company, valued at $2,674,796.25. This represents a 24.83% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Matthew Neagle sold 55,000 shares of the firm’s stock in a transaction dated Tuesday, September 9th. The shares were sold at an average price of $18.69, for a total value of $1,027,950.00. Following the completion of the sale, the chief operating officer directly owned 999,784 shares in the company, valued at $18,685,962.96. This trade represents a 5.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 145,000 shares of company stock worth $2,639,450 over the last three months. Corporate insiders own 23.32% of the company’s stock.

Porch Group Company Profile

Porch Group, Inc, together with its subsidiaries, operates a vertical software and insurance platform in the United States. The company operates in two segments, Vertical Software and Insurance. The Vertical Software segment provides software and services to inspection, mortgage, and title companies on a subscription and transactional basis, as well as move and post-move services.