Globeflex Capital L P Purchases Shares of 342,376 Porch Group, Inc. $PRCH

Globeflex Capital L P purchased a new position in Porch Group, Inc. (NASDAQ:PRCH) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 342,376 shares of the company’s stock, valued at approximately $5,149,000.

A number of other institutional investors have also recently made changes to their positions in the company. AQR Capital Management LLC lifted its position in shares of Porch Group by 134.7% in the first quarter. AQR Capital Management LLC now owns 226,795 shares of the company’s stock worth $1,653,000 after buying an additional 130,166 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Porch Group by 4.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 48,275 shares of the company’s stock valued at $352,000 after buying an additional 2,002 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in Porch Group by 2.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,161,064 shares of the company’s stock worth $8,464,000 after acquiring an additional 26,119 shares during the last quarter. Creative Planning bought a new stake in Porch Group in the 2nd quarter worth approximately $136,000. Finally, Legal & General Group Plc raised its holdings in shares of Porch Group by 1,203.8% during the 2nd quarter. Legal & General Group Plc now owns 108,759 shares of the company’s stock worth $1,282,000 after acquiring an additional 100,417 shares in the last quarter. Hedge funds and other institutional investors own 48.48% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on PRCH shares. B. Riley Financial increased their target price on Porch Group from $19.00 to $21.00 and gave the company a “buy” rating in a research report on Monday, August 3rd. Benchmark boosted their price target on shares of Porch Group from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Cantor Fitzgerald upped their price target on shares of Porch Group from $13.00 to $18.00 and gave the company an “overweight” rating in a research note on Thursday, July 30th. Stephens initiated coverage on shares of Porch Group in a research report on Monday, May 4th. They set an “overweight” rating and a $12.00 price objective for the company. Finally, Weiss Ratings raised shares of Porch Group from a “sell (d-)” rating to a “sell (d+)” rating in a research note on Thursday, July 30th. Six analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Porch Group has an average rating of “Moderate Buy” and a consensus target price of $18.79.

Insiders Place Their Bets

In other news, CFO Shawn Tabak sold 30,000 shares of the stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $10.08, for a total value of $302,400.00. Following the sale, the chief financial officer owned 269,439 shares of the company’s stock, valued at approximately $2,715,945.12. This represents a 10.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 83,944 shares of company stock worth $1,153,771 in the last quarter. Insiders own 27.78% of the company’s stock.

Porch Group Price Performance

Shares of Porch Group stock opened at $17.09 on Monday. The stock has a market cap of $2.25 billion, a price-to-earnings ratio of -142.42 and a beta of 3.15. The company has a debt-to-equity ratio of 20.53, a quick ratio of 1.45 and a current ratio of 1.45. The stock has a 50 day moving average price of $14.34 and a 200-day moving average price of $10.54. Porch Group, Inc. has a one year low of $6.36 and a one year high of $19.44.

Porch Group (NASDAQ:PRCH) last released its quarterly earnings results on Wednesday, July 29th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of ($0.03) by $0.08. The company had revenue of $131.81 million for the quarter, compared to analyst estimates of $122.30 million. Porch Group had a negative return on equity of 68.47% and a negative net margin of 2.67%. Equities analysts expect that Porch Group, Inc. will post -0.09 EPS for the current year.

About Porch Group

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.