Porch Group Sees Unusually Large Options Volume (NASDAQ:PRCH)

Key Points

• Porch Group, Inc. experienced a surge in put options trading, with a 56% increase over average volume, signaling potential investor concern about the stock's future performance.
• The company's stock price reached $17.75 on Tuesday, reflecting significant volatility with a 1-year low of $1.15 and a high of $17.98.
• Several analysts have revised their ratings and price targets for Porch Group, with ratings ranging from "hold" to "strong-buy," indicating mixed sentiment among market experts.

Porch Group, Inc. (NASDAQ:PRCH - Get Free Report) was the target of some unusual options trading on Tuesday. Stock traders acquired 2,364 put options on the company. Thisrepresentsanincreaseofapproximately56% compared to the average volume of 1,512 put options.

Porch Group Trading Up 1.4%

Porch Group stock traded up $0.25 during trading hours on Friday, hitting $18.20. 2,273,989 shares of the stock traded hands, compared to its average volume of 1,858,474. The firm's 50-day moving average price is $14.34 and its two-hundred day moving average price is $10.05. The company has a market cap of $2.23 billion, a PE ratio of 35.69 and a beta of 2.84. Porch Group has a one year low of $1.15 and a one year high of $18.70.

Porch Group (NASDAQ:PRCH - Get Free Report) last posted 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. Porch Group had a negative return on equity of 41.71% and a net margin of 12.82%.The business had revenue of $119.30 million for the quarter, compared to analysts' expectations of $98.06 million. Porch Group has set its FY 2025 guidance at EPS. On average, sell-side analysts expect that Porch Group will post -0.63 earnings per share for the current fiscal year.

Insider Buying and Selling at Porch Group

In other Porch Group news, CFO Shawn Tabak sold 30,000 shares of the firm's stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $11.23, for a total transaction of $336,900.00. Following the sale, the chief financial officer owned 172,671 shares in the company, valued at $1,939,095.33. This trade represents a 14.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Rachel Lam sold 25,000 shares of the firm's stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $15.21, for a total value of $380,250.00. Following the sale, the director owned 177,991 shares in the company, valued at $2,707,243.11. The trade was a 12.32% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 120,000 shares of company stock worth $1,436,300 over the last 90 days. Corporate insiders own 23.32% of the company's stock.

Institutional Trading of Porch Group

A number of hedge funds have recently made changes to their positions in PRCH. FNY Investment Advisers LLC bought a new stake in shares of Porch Group in the 1st quarter worth approximately $29,000. AlphaQuest LLC purchased a new stake in Porch Group during the 2nd quarter valued at $33,000. Raymond James Financial Inc. purchased a new stake in Porch Group during the 4th quarter valued at $50,000. Ameriprise Financial Inc. purchased a new stake in Porch Group during the 4th quarter valued at $51,000. Finally, Tower Research Capital LLC TRC increased its stake in shares of Porch Group by 91.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 11,017 shares of the company's stock worth $54,000 after purchasing an additional 5,273 shares in the last quarter. 48.48% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on PRCH shares. Zacks Research cut Porch Group from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 21st. Oppenheimer raised their price objective on Porch Group from $14.00 to $17.00 and gave the company an "outperform" rating in a research note on Wednesday, August 6th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $20.00 price objective on shares of Porch Group in a research note on Tuesday. Loop Capital reaffirmed a "buy" rating and set a $13.00 price objective (up from $6.00) on shares of Porch Group in a research note on Wednesday, May 14th. Finally, The Goldman Sachs Group started coverage on Porch Group in a research note on Tuesday. They set a "buy" rating and a $21.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus 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.