Porch Group (NASDAQ:PRCH) Shares Up 5.2% – Should You Buy?

Porch Group, Inc. (NASDAQ:PRCH) shares were up 5.2% during trading on Tuesday. The stock traded as high as $21.78 and last traded at $21.7110. Approximately 748,637 shares traded hands during mid-day trading, a decline of 57% from the average daily volume of 1,749,991 shares. The stock had previously closed at $20.64.

Analysts Set New Price Targets

A number of research analysts recently weighed in on PRCH shares. Oppenheimer upped their price objective on Porch Group from $20.00 to $25.00 and gave the stock an “outperform” rating in a report on Thursday, October 29th. Keefe, Bruyette & Woods increased their price objective on Porch Group from $16.25 to $16.50 and gave the stock a “market perform” rating in a research report on Thursday, July 30th. Texas Capital raised Porch Group to a “strong-buy” rating in a report on Tuesday, September 22nd. Benchmark boosted their target price on shares of Porch Group from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Finally, Craig Hallum set a $25.00 price target on shares of Porch Group in a research note on Thursday, October 29th. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $20.79.

Porch Group Trading Up 5.6%

The firm has a market cap of $2.87 billion, a PE ratio of 272.50 and a beta of 3.16. The company has a debt-to-equity ratio of 13.21, a current ratio of 1.46 and a quick ratio of 1.46. The business has a 50-day moving average price of $17.64 and a two-hundred day moving average price of $12.38.

Porch Group (NASDAQ:PRCH) last issued its quarterly earnings data on Wednesday, October 28th. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.09. Porch Group had a net margin of 1.81% and a return on equity of 39.28%. The firm had revenue of $143.86 million for the quarter, compared to analysts’ expectations of $134.65 million. Analysts forecast that Porch Group, Inc. will post -0.01 EPS for the current year.

Insider Buying and Selling

In related news, COO Matthew Neagle sold 56,250 shares of the company’s stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $20.88, for a total value of $1,174,500.00. Following the sale, the chief operating officer owned 1,736,756 shares of the company’s stock, valued at approximately $36,263,465.28. This represents a 3.14% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Matt Ehrlichman sold 251,740 shares of the stock in a transaction on Wednesday, November 4th. The shares were sold at an average price of $21.58, for a total value of $5,432,549.20. Following the sale, the chief executive officer owned 15,640,005 shares in the company, valued at approximately $337,511,307.90. This trade represents a 1.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 895,259 shares of company stock valued at $17,619,683. 27.78% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. lifted its holdings in Porch Group by 122.3% in the 3rd quarter. Russell Investments Group Ltd. now owns 605,152 shares of the company’s stock valued at $10,082,000 after purchasing an additional 332,985 shares in the last quarter. Fifth Third Bancorp raised its position in shares of Porch Group by 83.9% in the third quarter. Fifth Third Bancorp now owns 242,189 shares of the company’s stock valued at $4,035,000 after buying an additional 110,493 shares during the last quarter. Jefferies Financial Group Inc. raised its position in shares of Porch Group by 319.3% in the third quarter. Jefferies Financial Group Inc. now owns 113,448 shares of the company’s stock valued at $1,890,000 after buying an additional 86,394 shares during the last quarter. Pictet Asset Management Holding SA lifted its stake in shares of Porch Group by 31.2% during the third quarter. Pictet Asset Management Holding SA now owns 14,315 shares of the company’s stock valued at $238,000 after buying an additional 3,406 shares during the period. Finally, Calamos Advisors LLC purchased a new position in shares of Porch Group during the third quarter valued at approximately $378,000. Institutional investors and hedge funds own 48.48% of the company’s stock.

About Porch Group

Porch Group, Inc. is a technology company that provides software and services for the homeownership market. Its platform serves home-service professionals and related businesses, including home inspectors, and offers tools for managing operations, customer relationships, scheduling and business growth. The company also provides insurance products and services for homeowners and works with real estate and mortgage professionals. Its offerings include software for home inspectors and mortgage companies, alongside insurance capabilities that support customers through the homebuying and homeownership process.