Porch Group, Inc. (NASDAQ:PRCH – Get Free Report)’s share price reached a new 52-week high during trading on Wednesday. The company traded as high as $21.82 and last traded at $21.83, with a volume of 5,785 shares traded. The stock had previously closed at $21.52.
Analyst Upgrades and Downgrades
PRCH has been the subject of several research analyst reports. B. Riley Financial boosted their target price on Porch Group from $21.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday, October 14th. Wall Street Zen upgraded shares of Porch Group from a “hold” rating to a “buy” rating in a research note on Saturday, October 31st. Oppenheimer lifted their price target on shares of Porch Group from $20.00 to $25.00 and gave the company an “outperform” rating in a report on Thursday, October 29th. Weiss Ratings raised shares of Porch Group from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, October 21st. Finally, Craig Hallum set a $25.00 price objective on shares of Porch Group in a research report on Thursday, October 29th. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $20.79.
View Our Latest Stock Analysis on Porch Group
Porch Group Stock Performance
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 stock has a fifty day simple moving average of $17.53 and a two-hundred day simple moving average of $12.26. The firm has a market capitalization of $2.68 billion, a P/E ratio of 253.87 and a beta of 3.16.
Porch Group (NASDAQ:PRCH – Get Free Report) last issued its 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. The business had revenue of $143.86 million for the quarter, compared to analyst estimates of $134.65 million. Porch Group had a net margin of 1.81% and a return on equity of 39.28%. On average, research analysts predict that Porch Group, Inc. will post -0.01 EPS for the current year.
Insider Transactions at Porch Group
In other Porch Group news, CFO Shawn Tabak sold 30,000 shares of the company’s stock in a transaction on Thursday, October 29th. The shares were sold at an average price of $21.02, for a total transaction of $630,600.00. Following the transaction, the chief financial officer owned 176,059 shares in the company, valued at approximately $3,700,760.18. This represents a 14.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Matthew Neagle sold 56,250 shares of the firm’s stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $20.88, for a total transaction of $1,174,500.00. Following the completion of the transaction, the chief operating officer directly owned 1,736,756 shares in the company, valued at $36,263,465.28. This trade represents a 3.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 429,304 shares of company stock valued at $7,821,622 in the last 90 days. 27.78% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On Porch Group
Several hedge funds and other institutional investors have recently made changes to their positions in PRCH. Wellington Management Group LLP grew its holdings in shares of Porch Group by 5.7% in the second quarter. Wellington Management Group LLP now owns 1,297,050 shares of the company’s stock valued at $19,508,000 after acquiring an additional 70,139 shares in the last quarter. Bank of America Corp DE purchased a new stake in shares of Porch Group during the 2nd quarter valued at $1,920,000. Legal & General Group Plc bought a new stake in shares of Porch Group during the 2nd quarter worth $904,000. Dimensional Fund Advisors LP raised its stake in shares of Porch Group by 42.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,540,082 shares of the company’s stock worth $11,040,000 after purchasing an additional 455,817 shares during the period. Finally, The Manufacturers Life Insurance Company bought a new stake in shares of Porch Group during the 2nd quarter worth $757,000. 48.48% of the stock is 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.
Read More
- Five stocks we like better than Porch Group
- GE Aerospace Has a $170 Billion Backlog, But Is the Stock Worth the Premium?
- Google’s Credit Backstop May Be TeraWulf’s Biggest Advantage
- Could the Midterms Revive Medicare for All? 3 Healthcare Stocks to Watch
- Qualcomm Beat Earnings, But Its Fastest-Growing Businesses Have a Catch
Receive News & Ratings for Porch Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Porch Group and related companies with MarketBeat.com's FREE daily email newsletter.
