Vanguard Group Inc. Grows Stock Position in Porch Group, Inc. $PRCH

Vanguard Group Inc. raised its position in Porch Group, Inc. (NASDAQ:PRCH) by 5.7% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 5,823,961 shares of the company’s stock after purchasing an additional 312,370 shares during the period. Vanguard Group Inc. owned 4.85% of Porch Group worth $42,457,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in PRCH. FNY Investment Advisers LLC purchased a new stake in Porch Group in the 1st quarter valued at $29,000. CWM LLC increased its stake in Porch Group by 112.2% during the first quarter. CWM LLC now owns 8,732 shares of the company’s stock worth $64,000 after purchasing an additional 4,617 shares during the period. Raymond James Financial Inc. purchased a new stake in Porch Group during the 4th quarter worth approximately $50,000. Ameriprise Financial Inc. acquired a new stake in shares of Porch Group in the fourth quarter valued at $51,000. Finally, Tower Research Capital LLC TRC raised its position in Porch Group by 91.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 11,017 shares of the company’s stock valued at $54,000 after purchasing an additional 5,273 shares in the last quarter. 48.48% of the stock is currently owned by hedge funds and other institutional investors.

Porch Group Stock Down 1.4%

Shares of NASDAQ PRCH opened at $16.39 on Tuesday. The stock has a market capitalization of $2.01 billion, a PE ratio of 32.14 and a beta of 2.72. The firm has a fifty day moving average of $13.25 and a 200-day moving average of $9.35. Porch Group, Inc. has a 52-week low of $1.15 and a 52-week high of $17.38.

Porch Group (NASDAQ:PRCH) last released its quarterly earnings data on Tuesday, August 5th. The company reported $0.03 earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.16. Porch Group had a negative return on equity of 41.71% and a net margin of 12.82%.The business had revenue of $119.30 million for the quarter, compared to analyst estimates of $98.06 million. Porch Group has set its FY 2025 guidance at EPS. Equities research analysts expect that Porch Group, Inc. will post -0.63 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on PRCH shares. B. Riley began coverage on shares of Porch Group in a research note on Tuesday, July 1st. They set a “buy” rating and a $15.00 target price for the company. Keefe, Bruyette & Woods raised their target price on shares of Porch Group from $7.00 to $16.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 13th. Zacks Research cut Porch Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 21st. Cantor Fitzgerald raised shares of Porch Group to a “strong-buy” rating in a report on Friday, August 15th. Finally, Oppenheimer lifted their price target on Porch Group from $14.00 to $17.00 and gave the company an “outperform” rating in a research note on Wednesday, August 6th. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, Porch Group presently has an average rating of “Buy” and an average price target of $13.71.

Insider Activity

In other news, CFO Shawn Tabak sold 30,000 shares of the business’s stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $11.23, for a total transaction of $336,900.00. Following the transaction, the chief financial officer directly owned 172,671 shares of the company’s stock, valued at approximately $1,939,095.33. The trade was a 14.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Rachel Lam sold 25,000 shares of Porch Group stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $15.21, for a total value of $380,250.00. Following the sale, the director directly owned 177,991 shares in the company, valued at approximately $2,707,243.11. The trade was a 12.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 120,000 shares of company stock worth $1,436,300 over the last 90 days. Company insiders own 23.32% of the company’s stock.

About Porch Group

Porch Group, Inc, together with its subsidiaries, operates a vertical software and insurance platform in the United States. The company operates in two segments, Vertical Software and Insurance. The Vertical Software segment provides software and services to inspection, mortgage, and title companies on a subscription and transactional basis, as well as move and post-move services.