Deutsche Bank AG Increases Stock Holdings in Porch Group, Inc. $PRCH

Deutsche Bank AG grew its holdings in shares of Porch Group, Inc. (NASDAQ:PRCH) by 5.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 53,845 shares of the company’s stock after purchasing an additional 2,872 shares during the period. Deutsche Bank AG’s holdings in Porch Group were worth $393,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Rhumbline Advisers grew its holdings in shares of Porch Group by 28.7% in the first quarter. Rhumbline Advisers now owns 99,436 shares of the company’s stock valued at $725,000 after purchasing an additional 22,159 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Porch Group by 801.6% during the 1st quarter. GAMMA Investing LLC now owns 91,285 shares of the company’s stock worth $665,000 after buying an additional 81,160 shares in the last quarter. Ameriprise Financial Inc. purchased a new position in Porch Group in the 4th quarter valued at approximately $51,000. Tower Research Capital LLC TRC boosted 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 buying an additional 5,273 shares during the period. Finally, Two Sigma Investments LP grew its stake in shares of Porch Group by 1,564.1% in the fourth quarter. Two Sigma Investments LP now owns 197,127 shares of the company’s stock worth $970,000 after acquiring an additional 185,281 shares in the last quarter. Institutional investors and hedge funds own 48.48% of the company’s stock.

Analyst Ratings Changes

PRCH has been the topic of several analyst reports. Cantor Fitzgerald upgraded Porch Group to a “strong-buy” rating in a research note on Friday, August 15th. Oppenheimer upped their price target on Porch Group from $14.00 to $17.00 and gave the stock an “outperform” rating in a report on Wednesday, August 6th. Loop Capital reiterated a “buy” rating and issued a $13.00 price objective (up previously from $6.00) on shares of Porch Group in a research note on Wednesday, May 14th. B. Riley assumed coverage on Porch Group in a research report on Tuesday, July 1st. They set a “buy” rating and a $15.00 price objective for the company. Finally, Zacks Research lowered shares of Porch Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 21st. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Porch Group currently has an average rating of “Buy” and a consensus price target of $13.71.

Insiders Place Their Bets

In other news, 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 transaction of $380,250.00. Following the sale, the director 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Alan R. Pickerill sold 40,000 shares of the business’s stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $11.26, for a total value of $450,400.00. Following the completion of the sale, the director directly owned 182,416 shares of the company’s stock, valued at $2,054,004.16. The trade was a 17.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 120,000 shares of company stock valued at $1,436,300. 23.32% of the stock is currently owned by insiders.

Porch Group Trading Down 1.1%

Shares of NASDAQ:PRCH opened at $16.09 on Friday. The firm has a 50 day simple moving average of $13.56 and a 200-day simple moving average of $9.52. Porch Group, Inc. has a twelve month low of $1.15 and a twelve month high of $17.38. The company has a market capitalization of $1.97 billion, a PE ratio of 31.55 and a beta of 2.72.

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

Porch Group Company Profile

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.