Porch Group, Inc. (NASDAQ:PRCH) Shares Bought by Victory Capital Management Inc.

Victory Capital Management Inc. grew its holdings in shares of Porch Group, Inc. (NASDAQ:PRCHGet Rating) by 22.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,529,647 shares of the company’s stock after purchasing an additional 460,809 shares during the period. Victory Capital Management Inc. owned 2.58% of Porch Group worth $17,568,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Hardy Reed LLC bought a new position in shares of Porch Group during the first quarter worth about $45,000. Baker Tilly Wealth Management LLC bought a new position in shares of Porch Group during the first quarter worth about $76,000. Integrated Advisors Network LLC bought a new position in shares of Porch Group during the first quarter worth about $103,000. State Board of Administration of Florida Retirement System bought a new position in shares of Porch Group during the fourth quarter worth about $224,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Porch Group by 88.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,109 shares of the company’s stock worth $236,000 after acquiring an additional 7,096 shares during the last quarter. 98.11% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have commented on PRCH. Cantor Fitzgerald reissued an “overweight” rating on shares of Porch Group in a research note on Wednesday, July 6th. JPMorgan Chase & Co. initiated coverage on Porch Group in a research report on Monday, May 23rd. They issued an “overweight” rating and a $8.00 target price for the company. Craig Hallum cut their target price on Porch Group from $13.00 to $8.00 in a research report on Wednesday, May 11th. Compass Point initiated coverage on Porch Group in a report on Wednesday, May 25th. They issued a “buy” rating and a $11.50 price target on the stock. Finally, Keefe, Bruyette & Woods reaffirmed a “downgrade” rating on shares of Porch Group in a report on Monday, July 25th. Twelve analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $17.65.

Insider Buying and Selling at Porch Group

In related news, Director Sean Davis Kell purchased 10,820 shares of the company’s stock in a transaction dated Monday, May 16th. The shares were acquired at an average cost of $4.62 per share, with a total value of $49,988.40. Following the completion of the purchase, the director now owns 10,820 shares of the company’s stock, valued at approximately $49,988.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Matt Ehrlichman purchased 273,128 shares of the company’s stock in a transaction dated Thursday, May 12th. The shares were acquired at an average cost of $3.66 per share, with a total value of $999,648.48. Following the completion of the purchase, the chief executive officer now owns 9,591,070 shares of the company’s stock, valued at approximately $35,103,316.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Sean Davis Kell purchased 10,820 shares of the company’s stock in a transaction dated Monday, May 16th. The stock was bought at an average cost of $4.62 per share, for a total transaction of $49,988.40. Following the completion of the purchase, the director now directly owns 10,820 shares of the company’s stock, valued at approximately $49,988.40. The disclosure for this purchase can be found here. Insiders have bought a total of 288,948 shares of company stock valued at $1,068,137 in the last three months. 18.64% of the stock is currently owned by company insiders.

Porch Group Price Performance

Shares of NASDAQ:PRCH opened at $2.24 on Friday. The company’s fifty day moving average is $2.77 and its two-hundred day moving average is $5.41. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 1.93. Porch Group, Inc. has a 12-month low of $1.80 and a 12-month high of $27.50. The company has a market cap of $219.82 million, a P/E ratio of -4.00 and a beta of 1.06.

Porch Group (NASDAQ:PRCHGet Rating) last announced its earnings results on Tuesday, May 10th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.11). Porch Group had a negative net margin of 21.81% and a negative return on equity of 36.71%. The firm had revenue of $62.56 million for the quarter, compared to analyst estimates of $60.66 million. During the same period last year, the firm earned ($0.35) earnings per share. Equities analysts expect that Porch Group, Inc. will post -0.88 earnings per share for the current fiscal year.

Porch Group Profile

(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.

Read More

Want to see what other hedge funds are holding PRCH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Porch Group, Inc. (NASDAQ:PRCHGet Rating).

Institutional Ownership by Quarter for Porch Group (NASDAQ:PRCH)

Receive News & Ratings for Porch Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Porch Group and related companies with MarketBeat.com's FREE daily email newsletter.