Porch Group, Inc. $PRCH Shares Bought by Wellington Management Group LLP

Wellington Management Group LLP increased its position in shares of Porch Group, Inc. (NASDAQ:PRCHFree Report) by 5.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,297,050 shares of the company’s stock after acquiring an additional 70,139 shares during the period. Wellington Management Group LLP owned about 0.98% of Porch Group worth $19,508,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Osbon Capital Management LLC acquired a new stake in shares of Porch Group in the fourth quarter valued at $25,000. Aster Capital Management DIFC Ltd increased its position in shares of Porch Group by 97.4% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 3,002 shares of the company’s stock worth $27,000 after purchasing an additional 1,481 shares in the last quarter. Larson Financial Group LLC increased its position in Porch Group by 444.8% during the third quarter. Larson Financial Group LLC now owns 1,836 shares of the company’s stock worth $31,000 after buying an additional 1,499 shares during the period. Kemnay Advisory Services Inc. acquired a new stake in shares of Porch Group in the fourth quarter valued at approximately $38,000. Finally, State of Wyoming acquired a new stake in Porch Group during the 2nd quarter worth $64,000. 48.48% of the stock is currently owned by institutional investors and hedge funds.

Porch Group Price Performance

Shares of Porch Group stock opened at $17.94 on Monday. Porch Group, Inc. has a 1-year low of $6.36 and a 1-year high of $19.44. The business has a 50-day moving average of $15.35 and a 200-day moving average of $11.24. The company has a debt-to-equity ratio of 20.53, a current ratio of 1.45 and a quick ratio of 1.45. The company has a market capitalization of $2.37 billion, a PE ratio of -149.50 and a beta of 3.17.

Porch Group (NASDAQ:PRCHGet Free Report) last announced its earnings results on Wednesday, July 29th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.08. The company had revenue of $131.81 million for the quarter, compared to analyst estimates of $122.30 million. Porch Group had a negative return on equity of 68.47% and a negative net margin of 2.67%. As a group, equities analysts forecast that Porch Group, Inc. will post -0.09 EPS for the current fiscal year.

Insiders Place Their Bets

In other Porch Group news, CFO Shawn Tabak sold 25,000 shares of the stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $16.21, for a total transaction of $405,250.00. Following the transaction, the chief financial officer owned 215,495 shares of the company’s stock, valued at $3,493,173.95. This trade represents a 10.40% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 27.78% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have weighed in on PRCH shares. Cantor Fitzgerald lifted their target price on Porch Group from $13.00 to $18.00 and gave the company an “overweight” rating in a research note on Thursday, July 30th. Keefe, Bruyette & Woods upped 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 report on Thursday, July 30th. Benchmark upped their target price on Porch Group from $22.00 to $23.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Weiss Ratings raised shares of Porch Group from a “sell (d-)” rating to a “sell (d+)” rating in a research note on Thursday, July 30th. Finally, B. Riley Financial lifted their price objective on Porch Group from $19.00 to $21.00 and gave the stock a “buy” rating in a research report on Monday, August 3rd. Five equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $18.42.

Read Our Latest Analysis on PRCH

About Porch Group

(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.

See Also

Institutional Ownership by Quarter for Porch Group (NASDAQ:PRCH)

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