Porch Group Target of Unusually High Options Trading (NASDAQ:PRCH)

Porch Group, Inc. (NASDAQ:PRCH) was the recipient of unusually large options trading on Tuesday. Traders purchased 2,364 put options on the stock. Thisisanincreaseofapproximately56% compared to the average volume of 1,512 put options.

Insider Buying and Selling

In other Porch Group news, Director Rachel Lam sold 25,000 shares of the 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 owned 177,991 shares of the company’s stock, valued at $2,707,243.11. This trade represents a 12.32% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Alan R. Pickerill sold 40,000 shares of the 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 in the company, valued at $2,054,004.16. This represents a 17.98% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 120,000 shares of company stock valued at $1,436,300. Corporate insiders own 23.32% of the company’s stock.

Hedge Funds Weigh In On Porch Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Squarepoint Ops LLC boosted its stake in Porch Group by 121.2% during the 2nd quarter. Squarepoint Ops LLC now owns 124,693 shares of the company’s stock valued at $1,470,000 after purchasing an additional 68,326 shares in the last quarter. State of Wyoming purchased a new stake in shares of Porch Group in the second quarter valued at $111,000. Tower Research Capital LLC TRC lifted its holdings in shares of Porch Group by 235.9% in the second quarter. Tower Research Capital LLC TRC now owns 31,589 shares of the company’s stock valued at $372,000 after purchasing an additional 22,185 shares in the last quarter. HRT Financial LP purchased a new stake in shares of Porch Group during the second quarter worth $2,729,000. Finally, G2 Investment Partners Management LLC raised its holdings in Porch Group by 28.4% during the second quarter. G2 Investment Partners Management LLC now owns 1,229,183 shares of the company’s stock valued at $14,492,000 after buying an additional 271,561 shares in the last quarter. 48.48% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on PRCH. Cantor Fitzgerald restated an “overweight” rating and set a $20.00 price target on shares of Porch Group in a research note on Tuesday. Zacks Research cut Porch Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 21st. Loop Capital reaffirmed a “buy” rating and set a $13.00 price objective (up from $6.00) on shares of Porch Group in a report on Wednesday, May 14th. B. Riley assumed coverage on Porch Group in a report on Tuesday, July 1st. They set a “buy” rating and a $15.00 price objective for the company. Finally, The Goldman Sachs Group began coverage on shares of Porch Group in a research note on Tuesday. They issued a “buy” rating and a $21.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Porch Group currently has an average rating of “Moderate Buy” and an average price target of $15.22.

Porch Group Stock Up 4.6%

Shares of NASDAQ PRCH opened at $17.75 on Wednesday. The stock’s 50 day moving average price is $13.95 and its two-hundred day moving average price is $9.81. Porch Group has a 52-week low of $1.15 and a 52-week high of $18.12. The stock has a market capitalization of $2.18 billion, a P/E ratio of 34.80 and a beta of 2.84.

Porch Group (NASDAQ:PRCH) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.16. The business had revenue of $119.30 million for the quarter, compared to analysts’ expectations of $98.06 million. Porch Group had a negative return on equity of 41.71% and a net margin of 12.82%. Porch Group has set its FY 2025 guidance at EPS. On average, analysts anticipate that Porch Group will post -0.63 EPS for the current 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.