71,152 Shares in Porch Group, Inc. $PRCH Bought by Corient Private Wealth LP

Key Points

• Corient Private Wealth LP acquired 71,152 shares of Porch Group during the second quarter, valued at approximately $1.07 million; institutional investors collectively own 48.48% of the company.
• Analysts remain generally positive, with a consensus rating of “Moderate Buy” and an average price target of $18.42 after several firms raised their targets.
• Porch Group reported quarterly revenue of $131.81 million and EPS of $0.05, exceeding expectations, while CFO Shawn Tabak sold 25,000 shares under a pre-arranged Rule 10b5-1 trading plan.

Corient Private Wealth LP bought a new stake in Porch Group, Inc. (NASDAQ:PRCH - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 71,152 shares of the company's stock, valued at approximately $1,070,000. Corient Private Wealth LP owned about 0.05% of Porch Group as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Osbon Capital Management LLC acquired a new position in Porch Group during the fourth quarter worth $25,000. Aster Capital Management DIFC Ltd lifted its holdings in Porch Group by 97.4% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 3,002 shares of the company's stock worth $27,000 after purchasing an additional 1,481 shares during the last quarter. Larson Financial Group LLC grew its position in Porch Group by 444.8% during the third 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 stake in Porch Group during the fourth quarter worth about $38,000. Finally, State of Wyoming bought a new stake in shares of Porch Group during the 2nd quarter valued at approximately $64,000. Institutional investors and hedge funds own 48.48% of the company's stock.

Analysts Set New Price Targets

PRCH has been the subject of several research reports. B. Riley Financial raised their target price on Porch Group from $19.00 to $21.00 and gave the company a "buy" rating in a research note on Monday, August 3rd. Cantor Fitzgerald upped their target price on 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 Porch Group from a "sell (d-)" rating to a "sell (d+)" rating in a research report on Thursday, July 30th. Benchmark raised their target price on Porch Group from $22.00 to $23.00 and gave the stock a "buy" rating in a report on Thursday, July 30th. Finally, Keefe, Bruyette & Woods boosted their target price on Porch Group from $16.25 to $16.50 and gave the company a "market perform" rating in a research report on Thursday, July 30th. Five investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Porch Group currently has a consensus rating of "Moderate Buy" and an average target price of $18.42.

Insiders Place Their Bets

In other news, CFO Shawn Tabak sold 25,000 shares of Porch Group stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $16.21, for a total value of $405,250.00. Following the completion of the transaction, the chief financial officer directly owned 215,495 shares of the company's stock, valued at approximately $3,493,173.95. The trade was a 10.40% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 27.78% of the stock is currently owned by corporate insiders.

Porch Group Price Performance

Shares of PRCH opened at $17.94 on Friday. The firm has a 50-day simple moving average of $15.35 and a 200-day simple moving average of $11.22. Porch Group, Inc. has a fifty-two week low of $6.36 and a fifty-two week high of $19.44. The company has a debt-to-equity ratio of 20.53, a quick ratio of 1.45 and a current ratio of 1.45. The company has a market capitalization of $2.37 billion, a price-to-earnings ratio of -149.50 and a beta of 3.17.

Porch Group (NASDAQ:PRCH - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The company reported $0.05 EPS for the quarter, topping analysts' consensus estimates of ($0.03) by $0.08. Porch Group had a negative net margin of 2.67% and a negative return on equity of 68.47%. The firm had revenue of $131.81 million for the quarter, compared to the consensus estimate of $122.30 million. On average, equities research analysts anticipate that Porch Group, Inc. will post -0.09 earnings per share for the current 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.

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