Porch Group, Inc. (NASDAQ:PRCH - Get Free Report) Director Amanda Reierson sold 7,418 shares of the stock in a transaction that occurred on Tuesday, October 20th. The shares were sold at an average price of $17.98, for a total value of $133,375.64. Following the completion of the sale, the director directly owned 113,261 shares of the company's stock, valued at $2,036,432.78. The trade was a 6.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Porch Group Stock Performance
Shares of PRCH opened at $17.94 on Friday. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 20.53. The firm has a market cap of $2.37 billion, a PE ratio of -149.50 and a beta of 3.18. The company's 50 day simple moving average is $17.08 and its 200-day simple moving average is $13.47. Porch Group, Inc. has a 12-month low of $6.36 and a 12-month high of $18.75.
Porch Group (NASDAQ:PRCH - Get Free Report) last announced its earnings results on Wednesday, July 29th. The company reported $0.05 EPS for the quarter, beating analysts' consensus estimates of ($0.03) by $0.08. Porch Group had a negative net margin of 2.67% and a negative return on equity of 68.47%. The business had revenue of $131.81 million for the quarter, compared to analysts' expectations of $122.30 million. As a group, equities analysts predict that Porch Group, Inc. will post -0.04 EPS for the current year.
Wall Street Analysts Forecast Growth
A number of research analysts have commented on the stock. B. Riley Financial lifted their price objective on shares of Porch Group from $21.00 to $24.00 and gave the company a "buy" rating in a research note on Wednesday, October 14th. Benchmark upped their target price on shares of Porch Group from $22.00 to $23.00 and gave the company a "buy" rating in a report on Thursday, July 30th. Cantor Fitzgerald increased their target price on shares of Porch Group from $18.00 to $20.00 and gave the stock an "overweight" rating in a research note on Friday, September 25th. Zacks Research raised Porch Group from a "hold" rating to a "strong-buy" rating in a report on Thursday, October 15th. Finally, Keefe, Bruyette & Woods boosted their price target on Porch Group from $16.25 to $16.50 and gave the company a "market perform" rating in a research report on Thursday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $19.64.
View Our Latest Analysis on PRCH
Institutional Investors Weigh In On Porch Group
Several large investors have recently modified their holdings of PRCH. Granahan Investment Management LLC lifted its holdings in shares of Porch Group by 9.4% during the first quarter. Granahan Investment Management LLC now owns 12,674,987 shares of the company's stock worth $90,880,000 after purchasing an additional 1,084,559 shares during the period. BlackRock Inc. purchased a new position in Porch Group in the 2nd quarter valued at $128,995,000. GC Wealth Management RIA LLC purchased a new position in Porch Group in the 1st quarter valued at $29,230,000. Park West Asset Management LLC acquired a new position in Porch Group in the 2nd quarter valued at $53,194,000. Finally, Dimensional Fund Advisors LP increased its stake in Porch Group by 42.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,540,082 shares of the company's stock valued at $11,040,000 after buying an additional 455,817 shares during the period. Hedge funds and other institutional investors own 48.48% of the company's stock.
Porch Group Company Profile
(
Get Free Report)
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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