Porch Group (NASDAQ:PRCH) Trading 7.1% Higher – Should You Buy?

Shares of Porch Group, Inc. (NASDAQ:PRCH) traded up 7.1% during trading on Wednesday . The company traded as high as $7.53 and last traded at $7.5590. 61,634 shares traded hands during mid-day trading, a decline of 96% from the average session volume of 1,499,862 shares. The stock had previously closed at $7.06.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Weiss Ratings reissued a “sell (d+)” rating on shares of Porch Group in a research report on Monday, December 29th. Keefe, Bruyette & Woods raised shares of Porch Group from a “market perform” rating to an “outperform” rating and cut their price objective for the stock from $13.00 to $10.50 in a research report on Wednesday, February 11th. Zacks Research raised shares of Porch Group from a “strong sell” rating to a “hold” rating in a research report on Friday, March 6th. Finally, Benchmark reissued a “buy” rating on shares of Porch Group in a research report on Friday, January 16th. Seven analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $17.21.

Porch Group Stock Performance

The firm has a market capitalization of $959.59 million, a price-to-earnings ratio of -154.20 and a beta of 3.09. The stock’s fifty day moving average is $7.61 and its two-hundred day moving average is $9.89. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 17.20.

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

Insider Buying and Selling

In related news, CFO Shawn Tabak sold 17,697 shares of the business’s stock in a transaction on Tuesday, April 14th. The shares were sold at an average price of $6.84, for a total transaction of $121,047.48. Following the transaction, the chief financial officer directly owned 398,656 shares in the company, valued at approximately $2,726,807.04. The trade was a 4.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Matt Ehrlichman sold 145,882 shares of the business’s stock in a transaction on Tuesday, April 14th. The stock was sold at an average price of $6.84, for a total transaction of $997,832.88. Following the transaction, the chief executive officer owned 17,163,175 shares in the company, valued at approximately $117,396,117. The trade was a 0.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have sold 563,802 shares of company stock worth $3,956,309. Insiders own 23.32% of the company’s stock.

Hedge Funds Weigh In On Porch Group

A number of institutional investors have recently added to or reduced their stakes in the company. Diversified Trust Co increased its holdings in Porch Group by 19.7% during the first quarter. Diversified Trust Co now owns 33,287 shares of the company’s stock worth $239,000 after buying an additional 5,487 shares during the last quarter. Osbon Capital Management LLC acquired a new position in shares of Porch Group in the fourth quarter valued at $25,000. Alpine Global Management LLC increased its holdings in shares of Porch Group by 45.5% in the fourth quarter. Alpine Global Management LLC now owns 11,636 shares of the company’s stock valued at $106,000 after purchasing an additional 3,636 shares during the last quarter. Beartown Capital Management LLC acquired a new position in shares of Porch Group in the fourth quarter valued at $4,108,000. Finally, Veradace Capital Management LLC acquired a new position in shares of Porch Group in the fourth quarter valued at $2,193,000. 48.48% of the stock is currently 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.