Sei Investments Co. Has $469,000 Stock Holdings in Porch Group, Inc. $PRCH

Key Points

• Sei Investments Co. significantly increased its stake in Porch Group, Inc. by 471.6%, owning 68,247 shares valued at approximately $469,000.
• Analysts maintain a consensus “Buy” rating for Porch Group, with price targets raised by multiple firms, peaking at $17.00 from previously lower estimates.
• Insider sales have recently occurred, with a director and CFO selling a combined total of 55,000 shares, reflecting a strong activity in the company's stock ownership.

Sei Investments Co. boosted its holdings in Porch Group, Inc. (NASDAQ:PRCH - Free Report) by 471.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 68,247 shares of the company's stock after acquiring an additional 56,307 shares during the period. Sei Investments Co. owned 0.06% of Porch Group worth $469,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in PRCH. JPMorgan Chase & Co. raised its stake in Porch Group by 225.1% in the 4th quarter. JPMorgan Chase & Co. now owns 730,340 shares of the company's stock valued at $3,593,000 after acquiring an additional 505,660 shares during the period. Geode Capital Management LLC increased its position in Porch Group by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 2,012,705 shares of the company's stock worth $9,905,000 after buying an additional 24,824 shares during the period. Wells Fargo & Company MN increased its position in Porch Group by 756.9% during the 4th quarter. Wells Fargo & Company MN now owns 205,780 shares of the company's stock worth $1,012,000 after buying an additional 181,766 shares during the period. Bank of Montreal Can increased its position in Porch Group by 142.7% during the 4th quarter. Bank of Montreal Can now owns 337,877 shares of the company's stock worth $1,662,000 after buying an additional 198,649 shares during the period. Finally, Invesco Ltd. increased its position in Porch Group by 4,365.6% during the 4th quarter. Invesco Ltd. now owns 1,682,286 shares of the company's stock worth $8,277,000 after buying an additional 1,644,614 shares during the period. Institutional investors own 48.48% of the company's stock.

Insiders Place Their Bets

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

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Oppenheimer increased their price objective on Porch Group from $14.00 to $17.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 6th. B. Riley assumed coverage on Porch Group in a research report on Tuesday, July 1st. They set a "buy" rating and a $15.00 price objective on the stock. Cantor Fitzgerald upgraded Porch Group to a "strong-buy" rating in a research report on Friday, August 15th. Loop Capital reiterated a "buy" rating and set a $13.00 price objective (up previously from $6.00) on shares of Porch Group in a research report on Wednesday, May 14th. Finally, Benchmark reiterated a "buy" rating and set a $17.00 price objective (up previously from $12.00) on shares of Porch Group in a research report on Wednesday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of $13.71.

Porch Group Stock Performance

Shares of NASDAQ PRCH traded up $0.30 during mid-day trading on Wednesday, reaching $15.28. The company had a trading volume of 840,465 shares, compared to its average volume of 2,438,471. Porch Group, Inc. has a one year low of $1.15 and a one year high of $17.38. The firm has a market cap of $1.87 billion, a price-to-earnings ratio of 30.00 and a beta of 2.72. The business's 50-day simple moving average is $12.86 and its 200 day simple moving average is $8.99.

Porch Group (NASDAQ:PRCH - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The company reported $0.03 earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.16. The business had revenue of $119.30 million for the quarter, compared to analyst estimates of $98.06 million. Porch Group had a negative return on equity of 41.71% and a net margin of 12.82%. Porch Group has set its FY 2025 guidance at EPS. On average, sell-side analysts anticipate that Porch Group, Inc. will post -0.63 EPS for the current year.

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.