Porch Group, Inc. (NASDAQ:PRCH) Given Consensus Rating of “Moderate Buy” by Brokerages

Porch Group, Inc. (NASDAQ:PRCH) has earned an average recommendation of “Moderate Buy” from the nine ratings firms that are covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $18.5417.

PRCH has been the subject of a number of analyst reports. Benchmark lifted their target price on shares of Porch Group from $21.00 to $22.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Stephens started coverage on Porch Group in a research note on Monday, May 4th. They issued an “overweight” rating and a $12.00 price target on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Porch Group in a research report on Friday, May 22nd. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $16.25 price objective (up from $13.00) on shares of Porch Group in a research note on Monday.

Porch Group Trading Up 2.5%

Shares of NASDAQ PRCH opened at $13.75 on Wednesday. Porch Group has a 1-year low of $6.36 and a 1-year high of $19.44. The company has a 50-day moving average of $11.70 and a two-hundred day moving average of $9.34. The company has a market cap of $1.76 billion, a PE ratio of -80.88 and a beta of 3.13. 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 posted its quarterly earnings results on Tuesday, April 28th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.06. Porch Group had a negative return on equity of 115.59% and a negative net margin of 3.41%.The business had revenue of $109.44 million for the quarter, compared to analysts’ expectations of $94.72 million. As a group, equities analysts expect that Porch Group will post -0.04 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Matt Ehrlichman sold 120,368 shares of the 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 owned 15,972,080 shares of the company’s stock, valued at $156,206,942.40. This represents a 0.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Shawn Tabak sold 25,000 shares of the firm’s stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $16.13, for a total transaction of $403,250.00. Following the sale, the chief financial officer owned 240,495 shares in the company, valued at approximately $3,879,184.35. The trade was a 9.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 1,966,208 shares of company stock valued at $18,642,140. 27.78% of the stock is owned by company insiders.

Hedge Funds Weigh In On Porch Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Osbon Capital Management LLC acquired a new stake in shares of Porch Group in the 4th quarter valued at about $25,000. Aster Capital Management DIFC Ltd grew its holdings in shares of Porch Group by 97.4% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 3,002 shares of the company’s stock worth $27,000 after buying an additional 1,481 shares in the last quarter. Larson Financial Group LLC grew its holdings in shares of Porch Group by 444.8% during the third quarter. Larson Financial Group LLC now owns 1,836 shares of the company’s stock worth $31,000 after buying an additional 1,499 shares in the last quarter. Kemnay Advisory Services Inc. bought a new position in shares of Porch Group during the fourth quarter worth about $38,000. Finally, RiverPark Advisors LLC acquired a new stake in Porch Group in the 3rd quarter valued at approximately $39,000. 48.48% of the stock is owned by institutional investors and hedge funds.

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.