Porch Group (NASDAQ:PRCH) Trading Down 3.3% - Here's Why

Key Points

• Porch Group's shares dropped 3.3% to $15.33 amid low trading volume, significantly below the average daily volume.
• Analysts have mixed views on Porch Group, with price targets ranging from $16.00 to $25.00 and an average rating of "Moderate Buy."
• Insider trading activity included Director Amanda Reierson selling 50,000 shares and COO Matthew Neagle selling 55,000 shares, indicating a 24.83% and 5.21% decrease in their respective ownership stakes.

Porch Group, Inc. (NASDAQ:PRCH - Get Free Report) shares dropped 3.3% on Wednesday . The stock traded as low as $15.29 and last traded at $15.33. Approximately 296,361 shares were traded during mid-day trading, a decline of 88% from the average daily volume of 2,395,390 shares. The stock had previously closed at $15.85.

Analyst Upgrades and Downgrades

PRCH has been the subject of several recent research reports. Benchmark increased their price target on Porch Group from $17.00 to $21.00 and gave the company a "buy" rating in a report on Wednesday, September 10th. Zacks Research downgraded Porch Group from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 21st. Oppenheimer reiterated an "outperform" rating and issued a $25.00 price target (up from $17.00) on shares of Porch Group in a report on Monday, September 22nd. Weiss Ratings reiterated a "hold (c)" rating on shares of Porch Group in a report on Wednesday. Finally, Keefe, Bruyette & Woods increased their price target on Porch Group from $7.00 to $16.00 and gave the company a "market perform" rating in a report on Wednesday, August 13th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $16.56.

Porch Group Price Performance

The stock has a market capitalization of $1.88 billion, a P/E ratio of 29.98 and a beta of 2.87. The company has a fifty day moving average of $16.48 and a two-hundred day moving average of $11.87.

Porch Group (NASDAQ:PRCH - Get Free Report) last announced 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 firm had revenue of $119.30 million during 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. As a group, equities research analysts predict that Porch Group, Inc. will post -0.63 EPS for the current fiscal year.

Insider Transactions at Porch Group

In other Porch Group news, Director Amanda L. Reierson sold 50,000 shares of Porch Group stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $17.67, for a total value of $883,500.00. Following the completion of the transaction, the director directly owned 151,375 shares in the company, valued at $2,674,796.25. The trade was a 24.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Matthew Neagle sold 55,000 shares of Porch Group stock in a transaction that occurred on Tuesday, September 9th. The shares were sold at an average price of $18.69, for a total value of $1,027,950.00. Following the completion of the transaction, the chief operating officer owned 999,784 shares of the company's stock, valued at approximately $18,685,962.96. The trade was a 5.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 170,000 shares of company stock valued at $3,019,700 in the last three months. Corporate insiders own 23.32% of the company's stock.

Hedge Funds Weigh In On Porch Group

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Squarepoint Ops LLC boosted its stake in Porch Group by 121.2% in the second quarter. Squarepoint Ops LLC now owns 124,693 shares of the company's stock valued at $1,470,000 after acquiring an additional 68,326 shares during the period. State of Wyoming bought a new stake in Porch Group during the 2nd quarter valued at $111,000. Tower Research Capital LLC TRC raised its stake in Porch Group by 235.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 31,589 shares of the company's stock valued at $372,000 after acquiring an additional 22,185 shares in the last quarter. HRT Financial LP bought a new stake in Porch Group during the 2nd quarter valued at $2,729,000. Finally, G2 Investment Partners Management LLC raised its stake in Porch Group by 28.4% during 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. 48.48% of the stock is currently owned by institutional investors and hedge funds.

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.

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