Porch Group, Inc. $PRCH Shares Acquired by Zweig DiMenna Associates LLC

Zweig DiMenna Associates LLC raised its holdings in shares of Porch Group, Inc. (NASDAQ:PRCH) by 36.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,329,200 shares of the company’s stock after purchasing an additional 358,400 shares during the period. Zweig DiMenna Associates LLC’s holdings in Porch Group were worth $12,136,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the business. Vanguard Group Inc. increased its position in shares of Porch Group by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 7,314,207 shares of the company’s stock worth $66,779,000 after purchasing an additional 62,073 shares in the last quarter. Invesco Ltd. increased its position in shares of Porch Group by 448.4% during the third quarter. Invesco Ltd. now owns 3,795,064 shares of the company’s stock worth $63,681,000 after purchasing an additional 3,103,018 shares in the last quarter. Divisadero Street Capital Management LP increased its position in shares of Porch Group by 6.7% during the third quarter. Divisadero Street Capital Management LP now owns 2,606,883 shares of the company’s stock worth $43,743,000 after purchasing an additional 163,271 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Porch Group by 4.8% during the fourth quarter. Geode Capital Management LLC now owns 2,294,478 shares of the company’s stock worth $20,952,000 after purchasing an additional 105,982 shares in the last quarter. Finally, Park West Asset Management LLC increased its position in shares of Porch Group by 5.0% during the third quarter. Park West Asset Management LLC now owns 2,182,916 shares of the company’s stock worth $36,629,000 after purchasing an additional 104,855 shares in the last quarter. 48.48% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Porch Group

In other Porch Group news, CFO Shawn Tabak sold 30,000 shares of the company’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $10.08, for a total value of $302,400.00. Following the sale, the chief financial officer directly owned 269,439 shares of the company’s stock, valued at approximately $2,715,945.12. This represents a 10.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Matt Ehrlichman sold 120,368 shares of the company’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 $1,177,199.04. Following the completion of the sale, the chief executive officer directly owned 15,972,080 shares in the company, valued at approximately $156,206,942.40. The trade was a 0.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have sold 2,501,066 shares of company stock valued at $22,152,327. 27.78% of the stock is owned by insiders.

Porch Group Price Performance

Shares of PRCH opened at $10.42 on Friday. The firm has a market capitalization of $1.33 billion, a PE ratio of -61.29 and a beta of 3.24. The company has a debt-to-equity ratio of 14.87, a current ratio of 1.28 and a quick ratio of 1.28. Porch Group, Inc. has a 1-year low of $6.36 and a 1-year high of $19.44. The company’s fifty day moving average price is $8.63 and its 200-day moving average price is $8.68.

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

Analysts Set New Price Targets

A number of brokerages have recently weighed in on PRCH. Weiss Ratings reissued a “sell (d-)” rating on shares of Porch Group in a report on Friday, May 22nd. Zacks Research raised shares of Porch Group from a “strong sell” rating to a “hold” rating in a report on Friday, March 6th. Keefe, Bruyette & Woods raised shares of Porch Group from a “market perform” rating to an “outperform” rating and dropped their price objective for the company from $13.00 to $10.50 in a report on Wednesday, February 11th. Benchmark boosted their price objective on shares of Porch Group from $21.00 to $22.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Finally, Stephens began coverage on shares of Porch Group in a report on Monday, May 4th. They set an “overweight” rating and a $12.00 price objective on the stock. Seven investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $17.21.

Porch Group Company Profile

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.