Panoramic Capital LLC Makes New $2.86 Million Investment in Porch Group, Inc. $PRCH

Panoramic Capital LLC acquired a new stake in shares of Porch Group, Inc. (NASDAQ:PRCH) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 189,900 shares of the company’s stock, valued at approximately $2,856,000. Porch Group makes up about 1.2% of Panoramic Capital LLC’s investment portfolio, making the stock its 22nd largest holding. Panoramic Capital LLC owned 0.14% of Porch Group at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Osbon Capital Management LLC purchased a new stake in shares of Porch Group during the fourth quarter worth about $25,000. Aster Capital Management DIFC Ltd boosted its holdings in Porch Group by 97.4% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 3,002 shares of the company’s stock worth $27,000 after buying an additional 1,481 shares during the last quarter. Larson Financial Group LLC increased its stake in Porch Group by 444.8% during the 3rd quarter. Larson Financial Group LLC now owns 1,836 shares of the company’s stock worth $31,000 after buying an additional 1,499 shares in the last quarter. Kemnay Advisory Services Inc. acquired a new position in shares of Porch Group during the fourth quarter valued at approximately $38,000. Finally, State of Wyoming acquired a new position in shares of Porch Group during the second quarter valued at approximately $64,000. Institutional investors and hedge funds own 48.48% of the company’s stock.

Insider Transactions at Porch Group

In other Porch Group news, CFO Shawn Tabak sold 25,000 shares of the firm’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $16.21, for a total value of $405,250.00. Following the completion of the sale, the chief financial officer directly owned 215,495 shares of the company’s stock, valued at $3,493,173.95. This trade represents a 10.40% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 53,944 shares of company stock valued at $851,371. 27.78% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts recently commented on the company. B. Riley Financial boosted their price target on Porch Group from $19.00 to $21.00 and gave the stock a “buy” rating in a research report on Monday, August 3rd. Benchmark raised their price objective on Porch Group from $22.00 to $23.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Cantor Fitzgerald lifted their target price on shares of Porch Group from $13.00 to $18.00 and gave the stock an “overweight” rating in a research note on Thursday, July 30th. Weiss Ratings raised shares of Porch Group from a “sell (d-)” rating to a “sell (d+)” rating in a report on Thursday, July 30th. Finally, Stephens assumed coverage on shares of Porch Group in a report on Monday, May 4th. They set an “overweight” rating and a $12.00 target price for the company. Six equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $18.79.

Porch Group Trading Down 1.1%

Shares of Porch Group stock opened at $17.26 on Thursday. The company has a debt-to-equity ratio of 20.53, a current ratio of 1.45 and a quick ratio of 1.45. The stock’s 50 day simple moving average is $14.69 and its 200-day simple moving average is $10.76. The stock has a market cap of $2.28 billion, a P/E ratio of -143.83 and a beta of 3.15. Porch Group, Inc. has a 1-year low of $6.36 and a 1-year high of $19.44.

Porch Group (NASDAQ:PRCH) last posted its quarterly earnings results on Wednesday, July 29th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of ($0.03) by $0.08. Porch Group had a negative return on equity of 68.47% and a negative net margin of 2.67%.The firm had revenue of $131.81 million during the quarter, compared to analysts’ expectations of $122.30 million. Analysts predict that Porch Group, Inc. will post -0.09 EPS for the current fiscal year.

Porch Group Profile

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.