Porch Group (NASDAQ:PRCH) Downgraded by Zacks Research to Strong Sell

Zacks Research downgraded shares of Porch Group (NASDAQ:PRCH) from a hold rating to a strong sell rating in a research note issued to investors on Wednesday,Zacks.com reports.

PRCH has been the topic of a number of other reports. B. Riley reaffirmed a “buy” rating on shares of Porch Group in a research note on Thursday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Porch Group in a research report on Wednesday, October 8th. The Goldman Sachs Group started coverage on Porch Group in a report on Tuesday, September 2nd. They issued a “buy” rating and a $21.00 target price on the stock. Oppenheimer set a $20.00 price target on shares of Porch Group in a research note on Thursday. Finally, Benchmark reaffirmed a “buy” rating on shares of Porch Group in a research note on Thursday, October 30th. Eight investment 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. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $16.00.

Porch Group Stock Performance

Porch Group stock opened at $10.63 on Wednesday. The stock has a market capitalization of $1.30 billion, a price-to-earnings ratio of 36.66 and a beta of 2.84. Porch Group has a 52-week low of $2.21 and a 52-week high of $19.44. The stock’s 50 day moving average price is $16.60 and its two-hundred day moving average price is $13.25.

Porch Group (NASDAQ:PRCH) last released its earnings results on Wednesday, November 5th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.02). Porch Group had a net margin of 6.91% and a negative return on equity of 33.63%. The company had revenue of $118.08 million for the quarter, compared to analyst estimates of $114.42 million. Porch Group has set its FY 2025 guidance at EPS. On average, equities research analysts forecast that Porch Group will post -0.63 EPS for the current year.

Insiders Place Their Bets

In other news, Director Amanda L. Reierson sold 50,000 shares of Porch Group stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $17.67, for a total value of $883,500.00. Following the completion of the transaction, the director owned 151,375 shares in the company, valued at $2,674,796.25. This trade represents a 24.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Matthew Neagle sold 55,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of $18.69, for a total transaction of $1,027,950.00. Following the completion of the transaction, the chief operating officer directly owned 999,784 shares of the company’s stock, valued at approximately $18,685,962.96. This trade represents a 5.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 145,000 shares of company stock worth $2,639,450 over the last quarter. 23.32% of the stock is currently owned by company insiders.

Institutional Trading of Porch Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Cornerstone Investment Partners LLC bought a new position in Porch Group in the 3rd quarter worth about $174,000. Caprock Group LLC purchased a new stake in shares of Porch Group in the third quarter worth about $241,000. AlphaQuest LLC boosted its position in shares of Porch Group by 265.4% in the third quarter. AlphaQuest LLC now owns 10,074 shares of the company’s stock valued at $169,000 after acquiring an additional 7,317 shares during the period. Arizona State Retirement System purchased a new position in Porch Group during the third quarter valued at approximately $333,000. Finally, AE Wealth Management LLC increased its holdings in Porch Group by 3.0% during the 3rd quarter. AE Wealth Management LLC now owns 116,664 shares of the company’s stock worth $1,958,000 after acquiring an additional 3,350 shares during the period. 48.48% of the stock is currently owned by institutional investors.

Porch Group Company Profile

Porch Group, Inc, together with its subsidiaries, operates a vertical software and insurance platform in the United States. The company operates in two segments, Vertical Software and Insurance. The Vertical Software segment provides software and services to inspection, mortgage, and title companies on a subscription and transactional basis, as well as move and post-move services.