4,076,745 Shares in Porch Group, Inc. $PRCH Bought by GC Wealth Management RIA LLC

GC Wealth Management RIA LLC acquired a new stake in shares of Porch Group, Inc. (NASDAQ:PRCH) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 4,076,745 shares of the company’s stock, valued at approximately $29,230,000. Porch Group comprises about 1.2% of GC Wealth Management RIA LLC’s investment portfolio, making the stock its 13th largest position. GC Wealth Management RIA LLC owned 3.19% of Porch Group at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Osbon Capital Management LLC acquired a new stake in shares of Porch Group during the 4th quarter valued at about $25,000. Aster Capital Management DIFC Ltd raised its position in Porch Group by 97.4% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 3,002 shares of the company’s stock valued at $27,000 after acquiring an additional 1,481 shares in the last quarter. Larson Financial Group LLC lifted its stake in 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 acquiring an additional 1,499 shares during the last quarter. Kemnay Advisory Services Inc. bought a new stake in Porch Group in the fourth quarter worth approximately $38,000. Finally, PNC Financial Services Group Inc. grew its position in Porch Group by 697.8% in the first quarter. PNC Financial Services Group Inc. now owns 9,390 shares of the company’s stock worth $67,000 after acquiring an additional 8,213 shares in the last quarter. Institutional investors and hedge funds own 48.48% of the company’s stock.

Porch Group Price Performance

Shares of NASDAQ:PRCH opened at $11.63 on Friday. The company has a market cap of $1.49 billion, a price-to-earnings ratio of -68.41 and a beta of 3.13. The business has a 50 day moving average price of $12.03 and a 200 day moving average price of $9.53. 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 twelve month low of $6.36 and a twelve month high of $19.44.

Porch Group (NASDAQ:PRCH) last released its earnings results on Tuesday, April 28th. The company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.10) by $0.06. Porch Group had a negative net margin of 3.41% and a negative return on equity of 115.59%. The firm had revenue of $109.44 million during the quarter, compared to analysts’ expectations of $94.72 million. Research analysts predict that Porch Group, Inc. will post -0.04 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have weighed in on PRCH. Stephens initiated coverage on Porch Group in a report on Monday, May 4th. They set an “overweight” rating and a $12.00 target price on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Porch Group in a report on Friday, May 22nd. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $16.25 target price (up from $13.00) on shares of Porch Group in a report on Monday, July 13th. Finally, Benchmark upped their target price on Porch Group from $21.00 to $22.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Six research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $18.54.

Insider Activity

In related news, CEO Matt Ehrlichman sold 120,368 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $9.78, for a total value of $1,177,199.04. Following the completion of the sale, the chief executive officer directly owned 15,972,080 shares in the company, valued at approximately $156,206,942.40. This trade represents a 0.75% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Matthew Neagle sold 62,344 shares of the firm’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $9.78, for a total value of $609,724.32. Following the completion of the transaction, the chief operating officer owned 1,990,705 shares in the company, valued at $19,469,094.90. The trade was a 3.04% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have sold 1,397,856 shares of company stock valued at $14,158,387. 27.78% of the stock is owned by company insiders.

Porch Group 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.