Porch Group (NASDAQ:PRCH) Trading Up 5.6% – Should You Buy?

Porch Group, Inc. (NASDAQ:PRCH) was up 5.6% during trading on Tuesday . The company traded as high as $10.98 and last traded at $11.0830. Approximately 335,802 shares changed hands during mid-day trading, a decline of 80% from the average daily volume of 1,670,845 shares. The stock had previously closed at $10.50.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on PRCH shares. Stephens started coverage on Porch Group in a research note on Monday, May 4th. They issued an “overweight” rating and a $12.00 target price on the stock. Benchmark increased their target price on Porch Group from $21.00 to $22.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Weiss Ratings restated a “sell (d-)” rating on shares of Porch Group in a research report on Friday, May 22nd. Finally, Zacks Research upgraded shares of Porch Group from a “strong sell” rating to a “hold” rating in a research report on Friday, March 6th. Seven research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Porch Group presently has a consensus rating of “Moderate Buy” and an average price target of $17.21.

Porch Group Price Performance

The firm has a market capitalization of $1.43 billion, a PE ratio of -65.76 and a beta of 3.22. The company has a debt-to-equity ratio of 14.87, a current ratio of 1.28 and a quick ratio of 1.28. The firm has a 50-day simple moving average of $9.23 and a 200-day simple moving average of $8.69.

Porch Group (NASDAQ:PRCH) last announced its earnings results on Tuesday, April 28th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.10) by $0.06. The business had revenue of $109.44 million for the quarter, compared to analysts’ expectations of $94.72 million. Porch Group had a negative return on equity of 115.59% and a negative net margin of 3.41%. As a group, equities analysts forecast that Porch Group, Inc. will post -0.04 earnings per share for the current year.

Insider Transactions at Porch Group

In other Porch Group news, CEO Matt Ehrlichman sold 145,882 shares of the firm’s stock in a transaction dated Tuesday, April 14th. The stock was sold at an average price of $6.84, for a total value of $997,832.88. Following the transaction, the chief executive officer directly owned 17,163,175 shares of the company’s stock, valued at approximately $117,396,117. This trade represents a 0.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 2,505,010 shares of company stock valued at $22,195,198 over the last 90 days. Company insiders own 27.78% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. AQR Capital Management LLC lifted its position in shares of Porch Group by 134.7% during the 1st quarter. AQR Capital Management LLC now owns 226,795 shares of the company’s stock valued at $1,653,000 after buying an additional 130,166 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position 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 valued at $352,000 after buying an additional 2,002 shares in the last quarter. Goldman Sachs Group Inc. lifted its position 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 valued at $8,464,000 after buying an additional 26,119 shares in the last quarter. Creative Planning purchased a new position in shares of Porch Group during the 2nd quarter valued at about $136,000. Finally, Legal & General Group Plc lifted its position in shares of Porch Group by 1,203.8% during the 2nd quarter. Legal & General Group Plc now owns 108,759 shares of the company’s stock valued at $1,282,000 after buying an additional 100,417 shares in the last quarter. 48.48% of the stock is owned by hedge funds and other institutional investors.

About Porch Group

Porch Group, Inc operates a technology-driven home services platform designed to connect homeowners with professional contractors, maintenance providers and home improvement specialists. Through its online marketplace and proprietary software solutions, Porch enables users to research, compare and book services ranging from home repairs and remodeling to maintenance and renovations. The company’s platform integrates detailed provider profiles, customer reviews and real-time appointment scheduling to streamline the process of sourcing and managing home projects.

In addition to its core marketplace, Porch offers software products tailored for service professionals.