Porch Group, Inc. (NASDAQ:PRCH) Director Rachel Lam Purchases 5,000 Shares

Porch Group, Inc. (NASDAQ:PRCH – Get Rating) Director Rachel Lam bought 5,000 shares of the business’s stock in a transaction dated Thursday, May 12th. The stock was acquired at an average cost of $3.70 per share, for a total transaction of $18,500.00. Following the completion of the acquisition, the director now directly owns 9,630 shares in the company, valued at $35,631. The purchase was disclosed in a legal filing with the SEC, which is available through this link.

Shares of NASDAQ PRCH opened at $4.23 on Tuesday. The firm has a market capitalization of $415.11 million, a P/E ratio of -7.55 and a beta of 1.08. Porch Group, Inc. has a one year low of $3.27 and a one year high of $27.50. The company’s fifty day moving average is $5.74 and its two-hundred day moving average is $11.71. The company has a debt-to-equity ratio of 1.91, a quick ratio of 1.67 and a current ratio of 1.67.

Porch Group (NASDAQ:PRCH – Get Rating) last issued its earnings results on Tuesday, May 10th. The company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.20) by $0.14. Porch Group had a negative net margin of 21.81% and a negative return on equity of 36.81%. During the same quarter last year, the company posted ($0.35) EPS. On average, sell-side analysts forecast that Porch Group, Inc. will post -0.67 earnings per share for the current fiscal year.

Several institutional investors have recently added to or reduced their stakes in the stock. Wells Fargo & Company MN boosted its position in shares of Porch Group by 9.4% in the 2nd quarter. Wells Fargo & Company MN now owns 10,362 shares of the company’s stock worth $200,000 after buying an additional 888 shares in the last quarter. New York State Common Retirement Fund boosted its position in shares of Porch Group by 0.8% in the 4th quarter. New York State Common Retirement Fund now owns 133,052 shares of the company’s stock worth $2,074,000 after buying an additional 1,027 shares in the last quarter. Rhumbline Advisers boosted its position in shares of Porch Group by 1.5% in the 4th quarter. Rhumbline Advisers now owns 75,500 shares of the company’s stock worth $1,177,000 after buying an additional 1,148 shares in the last quarter. Citigroup Inc. boosted its position in shares of Porch Group by 3.8% in the 3rd quarter. Citigroup Inc. now owns 41,130 shares of the company’s stock worth $727,000 after buying an additional 1,489 shares in the last quarter. Finally, Arizona State Retirement System boosted its position in shares of Porch Group by 7.8% in the 3rd quarter. Arizona State Retirement System now owns 22,273 shares of the company’s stock worth $394,000 after buying an additional 1,613 shares in the last quarter. Institutional investors and hedge funds own 98.11% of the company’s stock.

PRCH has been the topic of a number of analyst reports. Guggenheim lowered their price objective on shares of Porch Group from $30.00 to $25.00 and set a “buy” rating on the stock in a research report on Wednesday, March 2nd. Northland Securities lowered their price objective on shares of Porch Group from $30.00 to $25.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 2nd. Craig Hallum lowered their price objective on shares of Porch Group from $13.00 to $8.00 in a research report on Wednesday, May 11th. Wedbush lowered their price objective on shares of Porch Group from $13.00 to $8.00 in a research report on Wednesday, May 11th. Finally, Loop Capital lifted their price objective on shares of Porch Group from $16.00 to $22.00 and gave the company a “buy” rating in a research report on Wednesday, March 2nd. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, Porch Group presently has a consensus rating of “Buy” and a consensus price target of $20.23.

About Porch Group (Get Rating)

Porch Group, Inc operates a software platform in the United States and Canada. The company operates through two segments, Vertical Software and Insurance. The Vertical Software segment provides software and services to home services companies and gives early access to homebuyers and homeowners. It offers services to home services companies, such as home inspectors, consumers, such as homebuyers and homeowners, service providers, such as moving, insurance, warranty, and security companies, and TV/Internet providers.

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