Porch Group (NASDAQ:PRCH) Director Amanda Reierson Sells 33,135 Shares of Stock

Porch Group, Inc. (NASDAQ:PRCH) Director Amanda Reierson sold 33,135 shares of the stock in a transaction that occurred on Monday, September 14th. The shares were sold at an average price of $16.46, for a total value of $545,402.10. Following the transaction, the director owned 134,180 shares of the company’s stock, valued at approximately $2,208,602.80. This trade represents a 19.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Porch Group Stock Down 1.0%

PRCH stock opened at $15.89 on Thursday. The company has a market capitalization of $2.09 billion, a P/E ratio of -132.42 and a beta of 3.17. The firm has a 50 day simple moving average of $15.59 and a 200-day simple moving average of $11.72. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 20.53. Porch Group, Inc. has a twelve month low of $6.36 and a twelve month high of $19.44.

Porch Group (NASDAQ:PRCH) last posted its earnings results on Wednesday, July 29th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of ($0.03) by $0.08. Porch Group had a negative net margin of 2.67% and a negative return on equity of 68.47%. The firm had revenue of $131.81 million during the quarter, compared to analysts’ expectations of $122.30 million. On average, equities research analysts predict that Porch Group, Inc. will post -0.09 earnings per share for the current fiscal year.

Analyst Ratings Changes

PRCH has been the topic of several analyst reports. Weiss Ratings upgraded Porch Group from a “sell (d-)” rating to a “sell (d+)” rating in a research report on Thursday, July 30th. Benchmark increased their price target on Porch Group from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Cantor Fitzgerald lifted their price objective on shares of Porch Group from $13.00 to $18.00 and gave the company an “overweight” rating in a research note on Thursday, July 30th. Keefe, Bruyette & Woods upped their price objective on shares of Porch Group from $16.25 to $16.50 and gave the stock a “market perform” rating in a report on Thursday, July 30th. Finally, B. Riley Financial raised their target price on shares of Porch Group from $19.00 to $21.00 and gave the company a “buy” rating in a research note on Monday, August 3rd. Five research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $18.42.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of PRCH. Thompson Siegel & Walmsley LLC raised its holdings in shares of Porch Group by 360.9% in the 4th quarter. Thompson Siegel & Walmsley LLC now owns 644,663 shares of the company’s stock worth $5,886,000 after purchasing an additional 504,803 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Porch Group by 42.0% in the first quarter. Dimensional Fund Advisors LP now owns 1,540,082 shares of the company’s stock worth $11,040,000 after buying an additional 455,817 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new position in shares of Porch Group in the first quarter valued at $1,015,000. Ashford Capital Management Inc. lifted its position in shares of Porch Group by 72.0% during the 1st quarter. Ashford Capital Management Inc. now owns 696,180 shares of the company’s stock valued at $4,992,000 after acquiring an additional 291,510 shares during the last quarter. Finally, BlackRock Inc. acquired a new stake in shares of Porch Group during the 2nd quarter valued at $128,995,000. 48.48% of the stock is owned by institutional investors and hedge funds.

About Porch Group

Porch Group, Inc is a technology company that provides software and services for the residential real estate and home services industries. Its platform is designed to help home service businesses manage operations, attract customers, and support homeowners throughout the process of buying, moving into, maintaining, and improving a home.

The company’s products and services have included software for home inspectors, moving companies, contractors, and other service providers. Porch has also operated businesses connected with homeowners insurance and related services, although its portfolio and operating structure have changed over time as the company has adjusted its strategy.

Founded in 2012, Porch Group is headquartered in Seattle, Washington, and primarily serves the U.S.