Porch Group, Inc. $PRCH Shares Acquired by JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. increased its stake in Porch Group by 95.1% in Q3, acquiring an additional 450,560 shares to hold 924,180 shares (about 0.75% of the company) valued at roughly $15.5 million.
• Other large investors also boosted positions—Vanguard now owns 7.25 million shares (~$121.7 million), Geode and Gilder Gagnon added sizeable stakes, and Algert Global posted a large increase—leaving institutional and hedge fund ownership at about 48.48%.
• Analyst sentiment is mixed-to-positive with seven Buys, one Hold and one Sell (consensus rating "Moderate Buy" and price target $17.21), while the stock trades near $7.21 with a negative EPS/PE and a 52-week range of $4.64–$19.44.

JPMorgan Chase & Co. grew its stake in Porch Group, Inc. (NASDAQ:PRCH - Free Report) by 95.1% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 924,180 shares of the company's stock after acquiring an additional 450,560 shares during the period. JPMorgan Chase & Co. owned about 0.75% of Porch Group worth $15,508,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in PRCH. Geode Capital Management LLC lifted its stake in Porch Group by 2.3% during the 2nd quarter. Geode Capital Management LLC now owns 2,150,086 shares of the company's stock worth $25,354,000 after acquiring an additional 48,811 shares in the last quarter. Vanguard Group Inc. grew its position in Porch Group by 5.6% in the 3rd quarter. Vanguard Group Inc. now owns 7,252,134 shares of the company's stock valued at $121,691,000 after acquiring an additional 384,451 shares in the last quarter. G2 Investment Partners Management LLC grew its position in Porch Group by 28.4% in the 2nd quarter. G2 Investment Partners Management LLC now owns 1,229,183 shares of the company's stock valued at $14,492,000 after acquiring an additional 271,561 shares in the last quarter. Algert Global LLC increased its stake in Porch Group by 2,254.1% during the third quarter. Algert Global LLC now owns 759,664 shares of the company's stock worth $12,747,000 after purchasing an additional 727,394 shares during the period. Finally, Gilder Gagnon Howe & Co. LLC increased its stake in Porch Group by 41.3% during the second quarter. Gilder Gagnon Howe & Co. LLC now owns 2,459,623 shares of the company's stock worth $28,999,000 after purchasing an additional 719,412 shares during the period. 48.48% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

PRCH has been the subject of several recent research reports. Benchmark reissued a "buy" rating on shares of Porch Group in a research note on Friday, January 16th. Weiss Ratings reiterated a "sell (d+)" rating on shares of Porch Group in a report on Monday, December 29th. Zacks Research raised shares of Porch Group from a "strong sell" rating to a "hold" rating in a research report on Friday, March 6th. Finally, Keefe, Bruyette & Woods upgraded shares of Porch Group from a "market perform" rating to an "outperform" rating and dropped their price target for the stock from $13.00 to $10.50 in a research note on Wednesday, February 11th. Seven research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $17.21.

Porch Group Stock Performance

Shares of Porch Group stock opened at $7.21 on Friday. The business has a 50-day simple moving average of $7.80 and a 200-day simple moving average of $11.03. The company has a debt-to-equity ratio of 17.20, a quick ratio of 1.30 and a current ratio of 1.30. Porch Group, Inc. has a one year low of $4.64 and a one year high of $19.44. The company has a market cap of $897.36 million, a PE ratio of -144.20 and a beta of 3.05.

Porch Group (NASDAQ:PRCH - Get Free Report) last issued its quarterly earnings results on Wednesday, February 11th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.08) by $0.05. Porch Group had a negative net margin of 0.72% and a negative return on equity of 51.86%. The company had revenue of $112.25 million during the quarter, compared to the consensus estimate of $109.13 million. On average, equities research analysts forecast that Porch Group, Inc. will post -0.63 EPS for the current fiscal year.

Porch Group Company 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.

Want to see what other hedge funds are holding PRCH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Porch Group, Inc. (NASDAQ:PRCH - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.