Porch Group (NASDAQ:PRCH) Stock Price Down 4.6%

Shares of Porch Group, Inc. (NASDAQ:PRCH) traded down 4.6% on Tuesday . The company traded as low as $15.04 and last traded at $15.24. 66,482 shares changed hands during mid-day trading, a decline of 96% from the average session volume of 1,706,173 shares. The stock had previously closed at $15.97.

A number of research analysts recently weighed in on the company. Benchmark raised their price objective on Porch Group from $26.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, September 10th. Zacks Investment Research downgraded Porch Group from a “buy” rating to a “hold” rating in a research report on Saturday, August 21st. Finally, Oppenheimer started coverage on Porch Group in a research report on Monday, June 28th. They issued an “outperform” rating and a $28.00 price target on the stock. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $25.14.

The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.20 and a current ratio of 1.20. The company has a 50-day simple moving average of $18.61 and a 200 day simple moving average of $17.60. The company has a market capitalization of $1.60 billion, a P/E ratio of -8.73 and a beta of 0.12.

Porch Group (NASDAQ:PRCH) last released its quarterly earnings data on Monday, August 16th. The company reported ($0.17) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.06. The firm had revenue of $51.34 million for the quarter, compared to the consensus estimate of $46.01 million. As a group, sell-side analysts forecast that Porch Group, Inc. will post -0.62 earnings per share for the current year.

In other news, COO Matthew Neagle sold 14,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 7th. The stock was sold at an average price of $23.02, for a total transaction of $322,280.00. Following the sale, the chief operating officer now directly owns 335,450 shares in the company, valued at $7,722,059. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last 90 days, insiders have sold 37,300 shares of company stock worth $760,217. 19.20% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. bought a new stake in shares of Porch Group during the second quarter valued at approximately $2,277,000. Ophir Asset Management Pty Ltd acquired a new stake in Porch Group in the 2nd quarter valued at $12,626,000. Bank of New York Mellon Corp acquired a new stake in Porch Group in the 1st quarter valued at $432,000. Envestnet Asset Management Inc. acquired a new stake in Porch Group in the 2nd quarter valued at $460,000. Finally, G2 Investment Partners Management LLC boosted its stake in Porch Group by 152.0% in the 1st quarter. G2 Investment Partners Management LLC now owns 646,915 shares of the company’s stock valued at $11,450,000 after buying an additional 390,243 shares in the last quarter. Institutional investors and hedge funds own 67.04% of the company’s stock.

Porch Group Company Profile (NASDAQ:PRCH)

Porch Group, Inc operates a software platform in the United States and Canada. It provides software and services under the ISN, HireAHelper, and Kandela brands to home services companies, such as home inspectors, homebuyers and homeowners, insurance carriers, moving companies, security companies, and TV/internet providers, as well as offers moving concierge services.

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