GAMMA Investing LLC Lowers Holdings in Porch Group, Inc. $PRCH

GAMMA Investing LLC decreased its holdings in Porch Group, Inc. (NASDAQ:PRCH) by 10.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,178 shares of the company’s stock after selling 1,344 shares during the quarter. GAMMA Investing LLC’s holdings in Porch Group were worth $132,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Moody National Bank Trust Division grew its holdings in Porch Group by 10.4% in the 2nd quarter. Moody National Bank Trust Division now owns 606,046 shares of the company’s stock valued at $7,145,000 after buying an additional 57,144 shares during the period. Rhumbline Advisers grew its holdings in shares of Porch Group by 28.7% during the 1st quarter. Rhumbline Advisers now owns 99,436 shares of the company’s stock worth $725,000 after purchasing an additional 22,159 shares during the period. Acadian Asset Management LLC grew its holdings in shares of Porch Group by 92.5% during the 1st quarter. Acadian Asset Management LLC now owns 1,619,752 shares of the company’s stock worth $11,800,000 after purchasing an additional 778,240 shares during the period. Goldman Sachs Group Inc. grew its holdings in shares of Porch Group by 2.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,161,064 shares of the company’s stock worth $8,464,000 after purchasing an additional 26,119 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Porch Group by 4.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 48,275 shares of the company’s stock worth $352,000 after purchasing an additional 2,002 shares during the period. Hedge funds and other institutional investors own 48.48% of the company’s stock.

Porch Group Trading Down 1.5%

Porch Group stock opened at $16.78 on Wednesday. The stock has a market cap of $2.06 billion, a P/E ratio of 32.90 and a beta of 2.84. The stock has a 50 day moving average of $16.16 and a 200-day moving average of $11.51. Porch Group, Inc. has a 52 week low of $1.26 and a 52 week high of $19.44.

Porch Group (NASDAQ:PRCH) last released its earnings results on Tuesday, August 5th. The company reported $0.03 EPS for the quarter, beating the consensus estimate of ($0.13) by $0.16. The company had revenue of $119.30 million during 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. As a group, equities analysts predict that Porch Group, Inc. will post -0.63 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. B. Riley assumed coverage on Porch Group in a report on Tuesday, July 1st. They set a “buy” rating and a $15.00 target price for the company. Benchmark boosted their target price on Porch Group from $17.00 to $21.00 and gave the stock a “buy” rating in a report on Wednesday, September 10th. The Goldman Sachs Group assumed coverage on Porch Group in a report on Tuesday, September 2nd. They set a “buy” rating and a $21.00 target price for the company. Cantor Fitzgerald reiterated an “overweight” rating and set a $20.00 target price on shares of Porch Group in a report on Tuesday, September 2nd. Finally, Oppenheimer reiterated an “outperform” rating and set a $25.00 target price (up previously from $17.00) on shares of Porch Group in a report on Monday, September 22nd. 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. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $16.56.

Insider Activity at Porch Group

In other news, Director Regi Vengalil sold 40,000 shares of the business’s stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $18.20, for a total value of $728,000.00. Following the completion of the sale, the director owned 165,903 shares of the company’s stock, valued at approximately $3,019,434.60. The trade was a 19.43% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Rachel Lam sold 25,000 shares of the business’s 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 completion of the sale, the director directly owned 177,991 shares of the company’s stock, valued at $2,707,243.11. The trade was a 12.32% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 170,000 shares of company stock worth $3,019,700 over the last quarter. Company insiders own 23.32% of the company’s stock.

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.