Deutsche Bank AG Acquires Shares of 100,425 Porch Group, Inc. $PRCH

Key Points

• Deutsche Bank acquired 100,425 shares of Porch Group during the second quarter, valued at approximately $1.51 million, giving it a 0.08% stake. Institutional investors and hedge funds collectively own 48.48% of the company.
• Analyst sentiment is generally positive, with six Buy, two Hold, and one Sell rating. Porch Group has a “Moderate Buy” consensus rating and an average price target of $18.79.
• Porch Group exceeded quarterly expectations, reporting $0.05 EPS versus consensus estimates of a $0.03 loss and revenue of $131.81 million versus estimates of $122.30 million. Shares opened at $17.40, near the company’s 12-month high of $19.44.

Deutsche Bank AG bought a new position in shares of Porch Group, Inc. (NASDAQ:PRCH - Free Report) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm bought 100,425 shares of the company's stock, valued at approximately $1,510,000. Deutsche Bank AG owned about 0.08% of Porch Group as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in PRCH. Osbon Capital Management LLC acquired a new stake in shares of Porch Group during the 4th quarter valued at approximately $25,000. Aster Capital Management DIFC Ltd boosted its holdings in Porch Group by 97.4% in the fourth 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 period. Larson Financial Group LLC increased its stake in Porch Group by 444.8% during the third quarter. Larson Financial Group LLC now owns 1,836 shares of the company's stock valued at $31,000 after purchasing an additional 1,499 shares during the last quarter. Kemnay Advisory Services Inc. acquired a new stake in shares of Porch Group during the fourth quarter worth $38,000. Finally, State of Wyoming acquired a new stake in shares of Porch Group during the second quarter worth $64,000. Institutional investors and hedge funds own 48.48% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Weiss Ratings raised shares of Porch Group from a "sell (d-)" rating to a "sell (d+)" rating in a report on Thursday, July 30th. Keefe, Bruyette & Woods lifted their target price on Porch Group from $16.25 to $16.50 and gave the company a "market perform" rating in a research note on Thursday, July 30th. B. Riley Financial upped their target price on Porch Group from $19.00 to $21.00 and gave the company a "buy" rating in a report on Monday, August 3rd. Cantor Fitzgerald increased their price target on Porch Group from $13.00 to $18.00 and gave the stock an "overweight" rating in a research report on Thursday, July 30th. Finally, Benchmark raised their price target on Porch Group from $22.00 to $23.00 and gave the stock a "buy" rating in a report on Thursday, July 30th. Six investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $18.79.

Porch Group Stock Performance

Shares of PRCH stock opened at $17.40 on Friday. Porch Group, Inc. has a 12-month low of $6.36 and a 12-month high of $19.44. 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 firm has a market capitalization of $2.29 billion, a price-to-earnings ratio of -145.00 and a beta of 3.15. The business has a 50 day simple moving average of $14.89 and a 200 day simple moving average of $10.88.

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

Insiders Place Their Bets

In other Porch Group news, CFO Shawn Tabak sold 25,000 shares of the business's stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $16.21, for a total transaction of $405,250.00. Following the sale, the chief financial officer directly owned 215,495 shares in the company, 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 Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 53,944 shares of company stock valued at $851,371 over the last three months. Corporate insiders own 27.78% of the company's stock.

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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