Porch Group, Inc. $PRCH Shares Acquired by Thompson Siegel & Walmsley LLC

Key Points

• Thompson Siegel & Walmsley LLC significantly increased its Porch Group stake by 360.9% in the fourth quarter, ending with 644,663 shares worth about $5.9 million.
• CEO Matt Ehrlichman sold 145,882 shares for about $998,000, a move the filing says was tied to tax withholding obligations related to vesting equity awards. Insiders still own 27.78% of the company.
• Porch Group recently beat quarterly earnings expectations, reporting a smaller-than-expected loss of $0.04 per share and revenue of $109.44 million versus estimates of $94.72 million. Analysts currently view the stock as a Moderate Buy with an average target price of $17.21.

Thompson Siegel & Walmsley LLC increased its position in Porch Group, Inc. (NASDAQ:PRCH - Free Report) by 360.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 644,663 shares of the company's stock after buying an additional 504,803 shares during the period. Thompson Siegel & Walmsley LLC owned about 0.52% of Porch Group worth $5,886,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Aster Capital Management DIFC Ltd grew its stake in Porch Group by 956.3% during the third quarter. Aster Capital Management DIFC Ltd now owns 1,521 shares of the company's stock worth $26,000 after buying an additional 1,377 shares during the period. Larson Financial Group LLC boosted its stake in shares of Porch Group by 444.8% in 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 period. RiverPark Advisors LLC purchased a new position in shares of Porch Group in the third quarter valued at $39,000. State of Wyoming purchased a new position in shares of Porch Group in the second quarter valued at $111,000. Finally, GSA Capital Partners LLP purchased a new position in shares of Porch Group in the third quarter valued at $168,000. Institutional investors and hedge funds own 48.48% of the company's stock.

Insider Buying and Selling at Porch Group

In other news, CEO Matt Ehrlichman sold 145,882 shares of the firm's stock in a transaction dated Tuesday, April 14th. The shares were sold at an average price of $6.84, for a total transaction of $997,832.88. Following the completion of the transaction, the chief executive officer owned 17,163,175 shares in the company, valued at approximately $117,396,117. This trade represents a 0.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have sold 2,501,066 shares of company stock worth $22,152,327. Company insiders own 27.78% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Keefe, Bruyette & Woods upgraded shares of Porch Group from a "market perform" rating to an "outperform" rating and decreased their target price for the company from $13.00 to $10.50 in a research note on Wednesday, February 11th. Weiss Ratings restated a "sell (d-)" rating on shares of Porch Group in a research note on Friday, May 22nd. Zacks Research upgraded shares of Porch Group from a "strong sell" rating to a "hold" rating in a research note on Friday, March 6th. Benchmark upped their price target on shares of Porch Group from $21.00 to $22.00 and gave the company a "buy" rating in a report on Wednesday, April 29th. Finally, Stephens assumed coverage on shares of Porch Group in a report on Monday, May 4th. They issued an "overweight" rating and a $12.00 price target on the stock. Seven analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Porch Group currently has an average rating of "Moderate Buy" and an average target price of $17.21.

Porch Group Stock Performance

Shares of PRCH opened at $11.03 on Tuesday. The firm has a 50-day moving average price of $8.71 and a 200 day moving average price of $8.67. The firm has a market capitalization of $1.41 billion, a PE ratio of -64.88 and a beta of 3.22. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 14.87. Porch Group, Inc. has a 52-week low of $6.36 and a 52-week high of $19.44.

Porch Group (NASDAQ:PRCH - Get Free Report) last announced its earnings results on Tuesday, April 28th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.10) by $0.06. The firm had revenue of $109.44 million during the quarter, compared to analyst estimates of $94.72 million. Porch Group had a negative net margin of 3.41% and a negative return on equity of 115.59%. On average, sell-side analysts anticipate that Porch Group, Inc. will post -0.04 earnings per share 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.

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