Porch Group (NASDAQ:PRCH) Trading Up 5.6% – Should You Buy?

Shares of Porch Group, Inc. (NASDAQ:PRCH) were up 5.6% on Tuesday . The company traded as high as $10.98 and last traded at $11.0830. Approximately 335,802 shares changed hands during trading, a decline of 80% from the average daily volume of 1,670,845 shares. The stock had previously closed at $10.50.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on PRCH shares. Benchmark lifted their price objective on Porch Group from $21.00 to $22.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Porch Group in a research report on Friday, May 22nd. Stephens started coverage on Porch Group in a research report on Monday, May 4th. They set an “overweight” rating and a $12.00 price objective on the stock. Finally, Zacks Research raised Porch Group from a “strong sell” rating to a “hold” rating in a research report on Friday, March 6th. Seven equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $17.21.

Porch Group Price Performance

The firm has a 50 day moving average of $9.23 and a 200-day moving average of $8.69. The company has a market cap of $1.43 billion, a P/E ratio of -65.76 and a beta of 3.22. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 14.87.

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

Insider Activity at Porch Group

In related news, CFO Shawn Tabak sold 3,944 shares of Porch Group stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $10.87, for a total transaction of $42,871.28. Following the sale, the chief financial officer owned 265,495 shares of the company’s stock, valued at approximately $2,885,930.65. This trade represents a 1.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 Porch Group stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $9.78, for a total value of $609,724.32. Following the sale, the chief operating officer directly owned 1,990,705 shares in the company, valued at $19,469,094.90. This trade represents a 3.04% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 2,505,010 shares of company stock valued at $22,195,198. 27.78% of the stock is owned by company insiders.

Institutional Trading of Porch Group

A number of large investors have recently added to or reduced their stakes in the company. Bank of America Corp DE increased its stake in Porch Group by 34.8% in the 1st quarter. Bank of America Corp DE now owns 364,015 shares of the company’s stock worth $2,610,000 after acquiring an additional 94,033 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in Porch Group by 3,773.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 15,339 shares of the company’s stock worth $110,000 after acquiring an additional 14,943 shares during the last quarter. California State Teachers Retirement System increased its stake in Porch Group by 41.4% in the 1st quarter. California State Teachers Retirement System now owns 90,632 shares of the company’s stock worth $650,000 after acquiring an additional 26,528 shares during the last quarter. Ashford Capital Management Inc. increased its stake in Porch Group by 72.0% in the 1st quarter. Ashford Capital Management Inc. now owns 696,180 shares of the company’s stock worth $4,992,000 after acquiring an additional 291,510 shares during the last quarter. Finally, Quantinno Capital Management LP increased its stake in Porch Group by 195.9% in the 1st quarter. Quantinno Capital Management LP now owns 73,939 shares of the company’s stock worth $530,000 after acquiring an additional 48,949 shares during the last quarter. Institutional investors own 48.48% of the company’s stock.

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.