Vanguard Group Inc. Buys 384,451 Shares of Porch Group, Inc. $PRCH

Vanguard Group Inc. raised its position in shares of Porch Group, Inc. (NASDAQ:PRCH) by 5.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,252,134 shares of the company’s stock after acquiring an additional 384,451 shares during the quarter. Vanguard Group Inc. owned approximately 0.06% of Porch Group worth $121,691,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Geode Capital Management LLC grew its stake in Porch Group by 2.3% in the second quarter. Geode Capital Management LLC now owns 2,150,086 shares of the company’s stock worth $25,354,000 after purchasing an additional 48,811 shares during the period. Bank of Montreal Can boosted its holdings in shares of Porch Group by 26.3% during the 2nd quarter. Bank of Montreal Can now owns 522,082 shares of the company’s stock valued at $6,155,000 after buying an additional 108,857 shares in the last quarter. G2 Investment Partners Management LLC grew its position in shares of Porch Group by 28.4% in the 2nd quarter. G2 Investment Partners Management LLC now owns 1,229,183 shares of the company’s stock worth $14,492,000 after buying an additional 271,561 shares during the period. Calamos Advisors LLC purchased a new stake in shares of Porch Group in the 2nd quarter worth about $982,000. Finally, JPMorgan Chase & Co. increased its stake in shares of Porch Group by 95.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 924,180 shares of the company’s stock worth $15,508,000 after acquiring an additional 450,560 shares in the last quarter. Hedge funds and other institutional investors own 48.48% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on PRCH shares. Benchmark restated a “buy” rating on shares of Porch Group in a report on Friday, January 16th. B. Riley Financial restated a “buy” rating on shares of Porch Group in a report on Thursday, November 6th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Porch Group in a report on Monday, December 29th. Zacks Research downgraded Porch Group from a “hold” rating to a “strong sell” rating in a research note on Monday, January 19th. Finally, Oppenheimer set a $20.00 price target on Porch Group in a research note on Thursday, November 6th. Eight analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $16.31.

Porch Group Trading Up 0.5%

Shares of PRCH stock opened at $8.21 on Thursday. Porch Group, Inc. has a 1 year low of $4.64 and a 1 year high of $19.44. The firm has a fifty day moving average price of $8.34 and a 200-day moving average price of $12.01. The company has a debt-to-equity ratio of 17.20, a current ratio of 1.30 and a quick ratio of 1.30. The company has a market cap of $1.02 billion, a price-to-earnings ratio of -164.20 and a beta of 3.05.

Porch Group (NASDAQ:PRCH) last announced its earnings results on Wednesday, February 11th. The company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.05. Porch Group had a negative return on equity of 51.86% and a negative net margin of 0.72%.The company had revenue of $112.25 million for the quarter, compared to analysts’ expectations of $109.13 million. As a group, equities analysts predict that Porch Group, Inc. will post -0.63 earnings per share for the current year.

Insider Transactions at Porch Group

In other Porch Group news, CFO Shawn Tabak sold 24,294 shares of the firm’s stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $9.66, for a total transaction of $234,680.04. Following the sale, the chief financial officer owned 118,130 shares in the company, valued at approximately $1,141,135.80. This trade represents a 17.06% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 23.32% 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.