342,376 Shares in Porch Group, Inc. $PRCH Acquired by Globeflex Capital L P

Globeflex Capital L P purchased a new stake in Porch Group, Inc. (NASDAQ:PRCH) in the first quarter, Holdings Channel.com reports. The institutional investor purchased 342,376 shares of the company’s stock, valued at approximately $2,455,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Granahan Investment Management LLC increased its stake in Porch Group by 20.3% in the fourth quarter. Granahan Investment Management LLC now owns 11,590,428 shares of the company’s stock valued at $105,821,000 after purchasing an additional 1,953,736 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Porch Group by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 7,314,207 shares of the company’s stock worth $66,779,000 after buying an additional 62,073 shares during the last quarter. Park West Asset Management LLC lifted its position in shares of Porch Group by 131.3% during the 4th quarter. Park West Asset Management LLC now owns 5,050,000 shares of the company’s stock worth $46,106,000 after buying an additional 2,867,084 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of Porch Group by 448.4% in the 3rd quarter. Invesco Ltd. now owns 3,795,064 shares of the company’s stock valued at $63,681,000 after buying an additional 3,103,018 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Porch Group by 4.8% in the 4th quarter. Geode Capital Management LLC now owns 2,294,478 shares of the company’s stock valued at $20,952,000 after buying an additional 105,982 shares in the last quarter. 48.48% of the stock is owned by institutional investors and hedge funds.

Porch Group Price Performance

PRCH stock opened at $12.19 on Thursday. The company has a market capitalization of $1.56 billion, a P/E ratio of -71.70 and a beta of 3.13. Porch Group, Inc. has a twelve month low of $6.36 and a twelve month high of $19.44. The business has a 50 day simple moving average of $12.00 and a 200-day simple moving average of $9.52. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 14.87.

Porch Group (NASDAQ:PRCH) last announced its earnings results on Tuesday, April 28th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.06. The business had revenue of $109.44 million for the quarter, compared to analyst estimates of $94.72 million. Porch Group had a negative net margin of 3.41% and a negative return on equity of 115.59%. As a group, equities analysts anticipate that Porch Group, Inc. will post -0.04 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently commented on PRCH shares. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $16.25 target price (up from $13.00) on shares of Porch Group in a research report on Monday, July 13th. Benchmark upped their price objective on shares of Porch Group from $21.00 to $22.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Stephens initiated coverage on shares of Porch Group in a research note on Monday, May 4th. They issued an “overweight” rating and a $12.00 price objective for the company. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Porch Group in a report on Friday, May 22nd. Six equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $18.54.

Insider Buying and Selling

In other Porch Group news, COO Matthew Neagle sold 62,344 shares of the firm’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $9.78, for a total transaction of $609,724.32. Following the transaction, the chief operating officer directly owned 1,990,705 shares of the company’s stock, valued at approximately $19,469,094.90. This trade represents a 3.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Matt Ehrlichman sold 120,368 shares of Porch Group stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $9.78, for a total transaction of $1,177,199.04. Following the completion of the transaction, the chief executive officer owned 15,972,080 shares in the company, valued at approximately $156,206,942.40. This represents a 0.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 1,593,228 shares of company stock worth $15,658,844 in the last 90 days. Company insiders own 27.78% of the company’s stock.

About Porch Group

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.