Porch Group, Inc. (NASDAQ:PRCH – Get Free Report) Director Amanda Reierson sold 7,418 shares of the business’s stock in a transaction that occurred on Tuesday, October 20th. The stock was sold at an average price of $17.98, for a total transaction of $133,375.64. Following the sale, the director directly owned 113,261 shares of the company’s stock, valued at approximately $2,036,432.78. This trade represents a 6.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Porch Group Stock Down 1.2%
Shares of NASDAQ PRCH opened at $17.73 on Friday. The firm has a 50 day moving average price of $17.09 and a 200 day moving average price of $13.50. The company has a debt-to-equity ratio of 20.53, a quick ratio of 1.45 and a current ratio of 1.45. The stock has a market cap of $2.34 billion, a P/E ratio of -147.75 and a beta of 3.18. Porch Group, Inc. has a 52-week low of $6.36 and a 52-week high of $18.75.
Porch Group (NASDAQ:PRCH – Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of ($0.03) by $0.08. Porch Group had a negative return on equity of 68.47% and a negative net margin of 2.67%. The business had revenue of $131.81 million for the quarter, compared to analysts’ expectations of $122.30 million. Analysts expect that Porch Group, Inc. will post -0.04 EPS for the current year.
Wall Street Analyst Weigh In
A number of equities research analysts recently commented on the stock. B. Riley Financial raised their price objective on shares of Porch Group from $21.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday, October 14th. Keefe, Bruyette & Woods lifted their price target on Porch Group from $16.25 to $16.50 and gave the company a “market perform” rating in a research note on Thursday, July 30th. Craig Hallum boosted their price target on Porch Group from $20.00 to $22.00 and gave the company a “buy” rating in a report on Wednesday, October 14th. Weiss Ratings upgraded Porch Group from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday. Finally, Texas Capital raised Porch Group to a “strong-buy” rating in a research report on Tuesday, September 22nd. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Porch Group currently has a consensus rating of “Buy” and an average price target of $19.64.
Get Our Latest Stock Analysis on Porch Group
Institutional Inflows and Outflows
Hedge funds have recently bought and sold shares of the stock. BlackRock Inc. acquired a new position in Porch Group during the second quarter worth approximately $128,995,000. Granahan Investment Management LLC raised its position in shares of Porch Group by 9.4% in the first quarter. Granahan Investment Management LLC now owns 12,674,987 shares of the company’s stock valued at $90,880,000 after purchasing an additional 1,084,559 shares during the period. Park West Asset Management LLC bought a new position in shares of Porch Group in the second quarter valued at about $53,194,000. GC Wealth Management RIA LLC acquired a new stake in shares of Porch Group during the 1st quarter worth about $29,230,000. Finally, Jupiter Topco LLC acquired a new stake in shares of Porch Group during the 2nd quarter worth about $21,979,000. 48.48% of the stock is currently owned by 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.
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