Porch Group, Inc. $PRCH Stake Boosted by Bosun Asset Management LLC

Bosun Asset Management LLC increased its position in shares of Porch Group, Inc. (NASDAQ:PRCH) by 371.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 135,022 shares of the company’s stock after acquiring an additional 106,359 shares during the period. Bosun Asset Management LLC owned about 0.11% of Porch Group worth $1,592,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Prudential Financial Inc. increased its position in Porch Group by 9.4% in the 2nd quarter. Prudential Financial Inc. now owns 14,220 shares of the company’s stock worth $168,000 after purchasing an additional 1,220 shares during the last quarter. CWM LLC grew its stake in shares of Porch Group by 20.1% in the 2nd quarter. CWM LLC now owns 10,485 shares of the company’s stock valued at $124,000 after buying an additional 1,753 shares in the last quarter. Police & Firemen s Retirement System of New Jersey grew its stake in shares of Porch Group by 12.0% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 17,915 shares of the company’s stock valued at $211,000 after buying an additional 1,916 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Porch Group by 4.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 48,275 shares of the company’s stock worth $352,000 after buying an additional 2,002 shares during the last quarter. Finally, AlphaQuest LLC bought a new position in Porch Group during the second quarter valued at approximately $33,000. Institutional investors and hedge funds own 48.48% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on PRCH. Zacks Research raised shares of Porch Group from a “strong sell” rating to a “hold” rating in a research report on Thursday. The Goldman Sachs Group began coverage on shares of Porch Group in a report on Tuesday, September 2nd. They issued a “buy” rating and a $21.00 price objective for the company. Weiss Ratings raised shares of Porch Group from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, December 1st. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $20.00 price target on shares of Porch Group in a research report on Tuesday, September 2nd. Finally, Keefe, Bruyette & Woods increased their price objective on Porch Group from $7.00 to $16.00 and gave the company a “market perform” rating in a report on Wednesday, August 13th. Seven equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $17.00.

Porch Group Stock Performance

Shares of PRCH opened at $9.36 on Friday. The company has a debt-to-equity ratio of 36.18, a current ratio of 1.33 and a quick ratio of 1.33. Porch Group, Inc. has a one year low of $3.72 and a one year high of $19.44. The company’s fifty day moving average price is $13.11 and its 200 day moving average price is $13.55. The company has a market capitalization of $1.16 billion, a PE ratio of 32.28 and a beta of 3.11.

Porch Group (NASDAQ:PRCH) last issued its quarterly earnings results on Wednesday, November 5th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.02). Porch Group had a net margin of 6.91% and a negative return on equity of 51.86%. The business had revenue of $118.08 million during the quarter, compared to analyst estimates of $114.42 million. As a group, analysts expect that Porch Group, Inc. will post -0.63 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Shawn Tabak sold 22,216 shares of the business’s stock in a transaction on Thursday, December 4th. The shares were sold at an average price of $9.52, for a total transaction of $211,496.32. Following the transaction, the chief financial officer owned 153,130 shares of the company’s stock, valued at approximately $1,457,797.60. The trade was a 12.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Amanda L. Reierson sold 50,000 shares of the company’s stock in a transaction on Friday, September 12th. The shares were sold at an average price of $17.67, for a total transaction of $883,500.00. Following the transaction, the director owned 151,375 shares of the company’s stock, valued at approximately $2,674,796.25. The trade was a 24.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 127,216 shares of company stock valued at $2,122,946 in the last three months. 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.