Stephens Inc. AR Increases Stock Position in Porch Group, Inc. $PRCH

Stephens Inc. AR boosted its stake in Porch Group, Inc. (NASDAQ:PRCH) by 67.1% during the 2nd quarter, Holdings Channel reports. The firm owned 59,737 shares of the company’s stock after buying an additional 23,994 shares during the quarter. Stephens Inc. AR’s holdings in Porch Group were worth $704,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of PRCH. CWM LLC lifted its stake in Porch Group by 112.2% in the 1st quarter. CWM LLC now owns 8,732 shares of the company’s stock worth $64,000 after purchasing an additional 4,617 shares in the last quarter. Ieq Capital LLC purchased a new stake in Porch Group in the 1st quarter worth $81,000. GAMMA Investing LLC lifted its stake in Porch Group by 23.7% in the 1st quarter. GAMMA Investing LLC now owns 12,522 shares of the company’s stock worth $91,000 after purchasing an additional 2,397 shares in the last quarter. Hsbc Holdings PLC purchased a new stake in Porch Group in the 1st quarter worth $106,000. Finally, Bosun Asset Management LLC purchased a new stake in Porch Group in the 1st quarter worth $209,000. Hedge funds and other institutional investors own 48.48% of the company’s stock.

Porch Group Price Performance

Porch Group stock opened at $16.37 on Friday. Porch Group, Inc. has a 1-year low of $1.28 and a 1-year high of $19.44. The firm has a market capitalization of $2.01 billion, a P/E ratio of 32.10 and a beta of 2.87. The company’s 50-day moving average is $16.77 and its 200 day moving average is $12.61.

Porch Group (NASDAQ:PRCH) last posted its quarterly earnings data 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. Porch Group had a net margin of 12.82% and a negative return on equity of 41.71%. The company had revenue of $119.30 million for the quarter, compared to analyst estimates of $98.06 million. Porch Group has set its FY 2025 guidance at EPS. Research analysts anticipate that Porch Group, Inc. will post -0.63 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. The Goldman Sachs Group assumed coverage on shares of Porch Group in a research note on Tuesday, September 2nd. They issued a “buy” rating and a $21.00 price target on the stock. Keefe, Bruyette & Woods upped their target price on shares of Porch Group from $7.00 to $16.00 and gave the company a “market perform” rating in a research report on Wednesday, August 13th. Cantor Fitzgerald restated an “overweight” rating and set a $20.00 target price on shares of Porch Group in a research report on Tuesday, September 2nd. B. Riley assumed coverage on shares of Porch Group in a research report on Tuesday, July 1st. They set a “buy” rating and a $15.00 target price on the stock. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Porch Group in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $16.56.

Insider Activity

In related news, Director Amanda L. Reierson sold 50,000 shares of the stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $17.67, for a total value of $883,500.00. Following the sale, the director directly owned 151,375 shares of the company’s stock, valued at $2,674,796.25. This represents a 24.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Matthew Neagle sold 55,000 shares of the company’s stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $18.69, for a total transaction of $1,027,950.00. Following the completion of the transaction, the chief operating officer owned 999,784 shares in the company, valued at $18,685,962.96. This represents a 5.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 170,000 shares of company stock valued at $3,019,700. 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.