Charles Schwab Investment Management Inc. Trims Holdings in Porch Group, Inc. $PRCH

Key Points

• Charles Schwab Investment Management Inc. reduced its stake in Porch Group by 6.9% during the first quarter, now holding approximately 231,158 shares worth $1.685 million.
• Porch Group's stock has received multiple upgrades, with analysts setting a consensus price target of $13.71 and ratings ranging from Strong Buy to Hold.
• In a recent quarterly earnings report, Porch Group exceeded expectations with an EPS of $0.03 and revenue of $119.3 million, significantly higher than consensus estimates.

Charles Schwab Investment Management Inc. lowered its position in Porch Group, Inc. (NASDAQ:PRCH - Free Report) by 6.9% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 231,158 shares of the company's stock after selling 17,042 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.19% of Porch Group worth $1,685,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC increased its stake in shares of Porch Group by 23.7% in the first quarter. GAMMA Investing LLC now owns 12,522 shares of the company's stock worth $91,000 after purchasing an additional 2,397 shares in the last quarter. FNY Investment Advisers LLC bought a new stake in Porch Group during the 1st quarter valued at $29,000. CWM LLC lifted its position in shares of Porch Group by 112.2% during the first quarter. CWM LLC now owns 8,732 shares of the company's stock worth $64,000 after acquiring an additional 4,617 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in shares of Porch Group by 91.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 11,017 shares of the company's stock worth $54,000 after acquiring an additional 5,273 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in shares of Porch Group by 22.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 30,524 shares of the company's stock valued at $151,000 after purchasing an additional 5,557 shares in the last quarter. 48.48% of the stock is currently owned by institutional investors.

Insider Transactions at Porch Group

In other news, Director Alan R. Pickerill sold 40,000 shares of the firm's stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $11.26, for a total value of $450,400.00. Following the completion of the transaction, the director owned 182,416 shares in the company, valued at $2,054,004.16. This trade represents a 17.98% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Rachel Lam sold 25,000 shares of the stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $15.21, for a total value of $380,250.00. Following the completion of the transaction, the director owned 177,991 shares of the company's stock, valued at approximately $2,707,243.11. This trade represents a 12.32% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 120,000 shares of company stock valued at $1,436,300. Corporate insiders own 23.32% of the company's stock.

Porch Group Stock Performance

PRCH traded up $0.78 on Tuesday, hitting $17.75. 3,570,228 shares of the company were exchanged, compared to its average volume of 2,050,248. The stock has a market capitalization of $2.18 billion, a PE ratio of 34.80 and a beta of 2.84. Porch Group, Inc. has a 12 month low of $1.15 and a 12 month high of $18.12. The firm has a fifty day simple moving average of $13.95 and a two-hundred day simple moving average of $9.81.

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

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Loop Capital reissued a "buy" rating and set a $13.00 price objective (up previously from $6.00) on shares of Porch Group in a report on Wednesday, May 14th. Oppenheimer boosted their price objective on shares of Porch Group from $14.00 to $17.00 and gave the company an "outperform" rating in a research note on Wednesday, August 6th. Zacks Research lowered shares of Porch Group from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 21st. Keefe, Bruyette & Woods raised 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. Finally, The Goldman Sachs Group initiated coverage on shares of Porch Group in a research report on Tuesday. They set a "buy" rating and a $21.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $15.22.

About Porch Group

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.