Porch Group, Inc. $PRCH Shares Acquired by UBS Group AG

UBS Group AG grew its position in Porch Group, Inc. (NASDAQ:PRCH) by 20.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 535,952 shares of the company’s stock after buying an additional 89,924 shares during the quarter. UBS Group AG owned 0.43% of Porch Group worth $4,893,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its holdings in Porch Group by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 7,314,207 shares of the company’s stock valued at $66,779,000 after purchasing an additional 62,073 shares during the period. Invesco Ltd. boosted its stake in shares of Porch Group by 448.4% in the 3rd quarter. Invesco Ltd. now owns 3,795,064 shares of the company’s stock valued at $63,681,000 after buying an additional 3,103,018 shares during the period. Divisadero Street Capital Management LP boosted its stake in shares of Porch Group by 6.7% in the 3rd quarter. Divisadero Street Capital Management LP now owns 2,606,883 shares of the company’s stock valued at $43,743,000 after buying an additional 163,271 shares during the period. Park West Asset Management LLC grew 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 buying an additional 104,855 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in shares of Porch Group by 2.3% during the first quarter. Goldman Sachs Group Inc. now owns 1,161,064 shares of the company’s stock worth $8,464,000 after buying an additional 26,119 shares during the period. 48.48% of the stock is owned by institutional investors and hedge funds.

Trending Headlines about Porch Group

Here are the key news stories impacting Porch Group this week:

• Positive Sentiment: Porch Group said Homeowners of America launched homeowners insurance in Michigan, expanding its insurance footprint to a 22nd state and supporting its strategy to grow premium volume and cash flow over time. Porch Group Launches Insurance in Michigan
• Positive Sentiment: Recent quarterly results were stronger than expected, with Porch Group posting a smaller-than-expected loss and revenue well above analyst estimates, which may continue to support sentiment.
• Neutral Sentiment: Several institutions increased their holdings in the latest quarter, suggesting some professional investors remain constructive on the stock’s longer-term outlook.
• Negative Sentiment: CEO Matt Ehrlichman, COO Matthew Neagle, and CFO Shawn Tabak all sold shares this week, adding to a recent pattern of insider sales. The company said these transactions were tied to tax withholding from equity vesting, which reduces concern, but the volume of sales may still weigh on investor sentiment. Matt Ehrlichman insider sale

Porch Group Stock Performance

NASDAQ:PRCH opened at $9.74 on Friday. The stock has a 50-day simple moving average of $8.33 and a 200-day simple moving average of $8.79. The stock has a market cap of $1.24 billion, a P/E ratio of -57.29 and a beta of 3.24. Porch Group, Inc. has a 1 year low of $6.36 and a 1 year high of $19.44. The company has a debt-to-equity ratio of 14.87, a quick ratio of 1.28 and a current ratio of 1.28.

Porch Group (NASDAQ:PRCH) last posted its earnings results on Tuesday, April 28th. The company reported ($0.04) earnings per share 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 during the quarter, compared to the consensus estimate of $94.72 million. As a group, analysts anticipate that Porch Group, Inc. will post -0.04 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently weighed in on PRCH shares. Benchmark raised their target price 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. Stephens started coverage on shares of Porch Group in a report on Monday, May 4th. They issued an “overweight” rating and a $12.00 target price on the stock. Keefe, Bruyette & Woods raised shares of Porch Group from a “market perform” rating to an “outperform” rating and reduced their target price for the company from $13.00 to $10.50 in a report on Wednesday, February 11th. Finally, Zacks Research raised shares of Porch Group from a “strong sell” rating to a “hold” rating in a report on Friday, March 6th. Seven research 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’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $17.21.

Insider Buying and Selling at Porch Group

In other Porch Group news, CFO Shawn Tabak sold 10,881 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $9.78, for a total transaction of $106,416.18. Following the completion of the sale, the chief financial officer directly owned 299,439 shares of the company’s stock, valued at $2,928,513.42. This represents a 3.51% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Matthew Neagle sold 62,344 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $9.78, for a total value of $609,724.32. Following the sale, the chief operating officer directly owned 1,990,705 shares of the company’s stock, valued at approximately $19,469,094.90. This represents a 3.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 2,471,066 shares of company stock valued at $21,849,927 in the last ninety days. Insiders own 27.78% of the company’s stock.

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.