Stephens Inc. AR Purchases 23,994 Shares of Porch Group, Inc. $PRCH

Stephens Inc. AR raised its position in shares of Porch Group, Inc. (NASDAQ:PRCH) by 67.1% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 59,737 shares of the company’s stock after acquiring an additional 23,994 shares during the quarter. Stephens Inc. AR’s holdings in Porch Group were worth $704,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of PRCH. GAMMA Investing LLC boosted its position in Porch Group by 23.7% during the 1st quarter. GAMMA Investing LLC now owns 12,522 shares of the company’s stock valued at $91,000 after acquiring an additional 2,397 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Porch Group by 3.0% during the first quarter. Bank of New York Mellon Corp now owns 329,379 shares of the company’s stock valued at $2,401,000 after purchasing an additional 9,670 shares during the last quarter. Viewpoint Capital Management LLC grew its position in Porch Group by 10.8% in the 1st quarter. Viewpoint Capital Management LLC now owns 204,900 shares of the company’s stock worth $1,494,000 after purchasing an additional 20,000 shares during the period. CWM LLC grew its position in Porch Group by 112.2% in the 1st quarter. CWM LLC now owns 8,732 shares of the company’s stock worth $64,000 after purchasing an additional 4,617 shares during the period. Finally, Zweig DiMenna Associates LLC bought a new stake in Porch Group in the 1st quarter worth approximately $1,604,000. 48.48% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

PRCH has been the subject of a number of research analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $20.00 target price on shares of Porch Group in a research report on Tuesday, September 2nd. Keefe, Bruyette & Woods lifted their target price on shares of Porch Group from $7.00 to $16.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 13th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Porch Group in a research report on Wednesday, October 8th. Zacks Research downgraded shares of Porch Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 21st. Finally, Benchmark lifted their target price on shares of Porch Group from $17.00 to $21.00 and gave the stock a “buy” rating in a research report on Wednesday, September 10th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Porch Group currently has an average rating of “Moderate Buy” and an average price target of $16.56.

Porch Group Price Performance

Shares of PRCH stock opened at $16.37 on Friday. Porch Group, Inc. has a 1 year low of $1.28 and a 1 year high of $19.44. The firm has a fifty day moving average price of $16.77 and a 200-day moving average price of $12.61. The company has a market cap of $2.01 billion, a price-to-earnings ratio of 32.10 and a beta of 2.87.

Porch Group (NASDAQ:PRCH) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.16. Porch Group had a net margin of 12.82% and a negative return on equity of 41.71%. The firm had revenue of $119.30 million during the quarter, compared to the consensus estimate of $98.06 million. Porch Group has set its FY 2025 guidance at EPS. Equities research analysts expect that Porch Group, Inc. will post -0.63 EPS for the current year.

Insider Activity

In related news, Director Regi Vengalil sold 40,000 shares of the company’s stock in a transaction on Friday, September 5th. The shares were sold at an average price of $18.20, for a total value of $728,000.00. Following the completion of the transaction, the director owned 165,903 shares of the company’s stock, valued at approximately $3,019,434.60. This represents a 19.43% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Amanda L. Reierson sold 50,000 shares of the company’s stock in a transaction on Friday, September 12th. The stock was sold at an average price of $17.67, for a total transaction of $883,500.00. Following the completion of the transaction, the director directly owned 151,375 shares of the company’s stock, valued at $2,674,796.25. This represents a 24.83% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 170,000 shares of company stock worth $3,019,700. 23.32% of the stock is currently owned by corporate insiders.

Porch Group 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.