Invesco Ltd. Has $21.11 Million Holdings in Porch Group, Inc. $PRCH

Key Points

• Invesco Ltd. increased its stake in Porch Group by 72.2% in the first quarter, owning 2,896,237 shares valued at approximately $21.11 million.
• Porch Group has received multiple upgrades from analysts, with a consensus price target of $13.71 and an average rating of Buy as of recent reports.
• The company's stock recorded a net margin of 12.82% and beat earnings estimates with a reported $0.03 EPS compared to consensus estimates of ($0.13).

Invesco Ltd. boosted its stake in shares of Porch Group, Inc. (NASDAQ:PRCH - Free Report) by 72.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,896,237 shares of the company's stock after purchasing an additional 1,213,951 shares during the quarter. Invesco Ltd. owned 2.41% of Porch Group worth $21,114,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. GAMMA Investing LLC increased its holdings in Porch Group by 23.7% in the 1st quarter. GAMMA Investing LLC now owns 12,522 shares of the company's stock valued at $91,000 after buying an additional 2,397 shares during the period. Deutsche Bank AG increased its holdings in Porch Group by 5.6% in the 1st quarter. Deutsche Bank AG now owns 53,845 shares of the company's stock valued at $393,000 after buying an additional 2,872 shares during the period. FNY Investment Advisers LLC bought a new stake in Porch Group in the 1st quarter valued at $29,000. CWM LLC increased its holdings in Porch Group by 112.2% in the 1st quarter. CWM LLC now owns 8,732 shares of the company's stock valued at $64,000 after buying an additional 4,617 shares during the period. Finally, Tower Research Capital LLC TRC increased its holdings in Porch Group by 91.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 11,017 shares of the company's stock valued at $54,000 after buying an additional 5,273 shares during the period. 48.48% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Benchmark reissued a "buy" rating and issued a $17.00 price target (up previously from $12.00) on shares of Porch Group in a report on Wednesday, July 30th. Cantor Fitzgerald raised shares of Porch Group to a "strong-buy" rating in a report on Friday, August 15th. Keefe, Bruyette & Woods boosted their price target on shares of Porch Group from $7.00 to $16.00 and gave the company a "market perform" rating in a report on Wednesday, August 13th. Loop Capital reissued a "buy" rating and issued a $13.00 price target (up previously from $6.00) on shares of Porch Group in a report on Wednesday, May 14th. Finally, B. Riley assumed coverage on shares of Porch Group in a report on Tuesday, July 1st. They issued a "buy" rating and a $15.00 price target on the stock. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $13.71.

Porch Group Stock Performance

PRCH opened at $15.32 on Thursday. The firm's 50-day simple moving average is $12.93 and its 200-day simple moving average is $9.04. Porch Group, Inc. has a twelve month low of $1.15 and a twelve month high of $17.38. The firm has a market cap of $1.88 billion, a price-to-earnings ratio of 30.04 and a beta of 2.72.

Porch Group (NASDAQ:PRCH - Get Free Report) last posted its earnings results on Tuesday, August 5th. The company reported $0.03 earnings per share for the quarter, topping the consensus estimate 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 business 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. As a group, sell-side analysts anticipate that Porch Group, Inc. will post -0.63 EPS for the current fiscal year.

Insider Activity

In related news, Director Alan R. Pickerill sold 40,000 shares of the company's stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $11.26, for a total transaction of $450,400.00. Following the transaction, the director owned 182,416 shares in the company, valued at $2,054,004.16. This represents a 17.98% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Shawn Tabak sold 30,000 shares of the company's stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $11.23, for a total transaction of $336,900.00. Following the transaction, the chief financial officer owned 172,671 shares in the company, valued at approximately $1,939,095.33. This trade represents a 14.80% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 180,000 shares of company stock worth $2,032,700 in the last quarter. 23.32% of the stock is owned by company insiders.

Porch Group 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.

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