Quantinno Capital Management LP Purchases 48,949 Shares of Porch Group, Inc. $PRCH

Quantinno Capital Management LP increased its position in Porch Group, Inc. (NASDAQ:PRCH) by 195.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 73,939 shares of the company’s stock after buying an additional 48,949 shares during the quarter. Quantinno Capital Management LP owned 0.06% of Porch Group worth $530,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Granahan Investment Management LLC increased its stake 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 buying an additional 1,084,559 shares during the period. GC Wealth Management RIA LLC acquired a new stake in Porch Group during the first quarter worth approximately $29,230,000. Arrowstreet Capital Limited Partnership acquired a new stake in Porch Group during the first quarter worth approximately $1,015,000. Globeflex Capital L P bought a new stake in Porch Group in the first quarter worth approximately $2,455,000. Finally, Cetera Investment Advisers acquired a new position in Porch Group in the first quarter valued at approximately $74,000. 48.48% of the stock is currently owned by institutional investors and hedge funds.

Porch Group Stock Up 0.2%

Shares of NASDAQ:PRCH opened at $17.08 on Friday. The company has a debt-to-equity ratio of 20.53, a quick ratio of 1.45 and a current ratio of 1.45. Porch Group, Inc. has a 52-week low of $6.36 and a 52-week high of $19.44. The business’s 50 day simple moving average is $14.20 and its two-hundred day simple moving average is $10.47. The firm has a market cap of $2.25 billion, a P/E ratio of -142.33 and a beta of 3.15.

Porch Group (NASDAQ:PRCH) last released its quarterly earnings data on Wednesday, July 29th. The company reported $0.05 EPS 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 firm had revenue of $131.81 million during the quarter, compared to the consensus estimate of $122.30 million. As a group, research analysts forecast that Porch Group, Inc. will post -0.09 EPS for the current fiscal year.

Wall Street Analyst Weigh In

PRCH has been the topic of a number of research analyst reports. Stephens started coverage on Porch Group in a report on Monday, May 4th. They set an “overweight” rating and a $12.00 price target on the stock. Benchmark lifted their price objective on shares of Porch Group from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Weiss Ratings upgraded shares of Porch Group from a “sell (d-)” rating to a “sell (d+)” rating in a research report on Thursday, July 30th. B. Riley Financial increased their target price on shares of Porch Group from $19.00 to $21.00 and gave the stock a “buy” rating in a research note on Monday, August 3rd. Finally, Cantor Fitzgerald raised their price target on shares of Porch Group from $13.00 to $18.00 and gave the stock an “overweight” rating in a report on Thursday, July 30th. Six equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $18.79.

Insider Buying and Selling

In other Porch Group news, CFO Shawn Tabak sold 25,000 shares of the business’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $16.21, for a total transaction of $405,250.00. Following the completion of the sale, the chief financial officer owned 215,495 shares in the company, valued at approximately $3,493,173.95. The trade was a 10.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 83,944 shares of company stock worth $1,153,771. 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.