Porch Group (NASDAQ:PRCH) Shares Down 5.5% – Time to Sell?

Porch Group, Inc. (NASDAQ:PRCH)’s stock price was down 5.5% during mid-day trading on Tuesday . The stock traded as low as $7.55 and last traded at $7.4120. Approximately 527,594 shares were traded during trading, a decline of 68% from the average daily volume of 1,651,731 shares. The stock had previously closed at $7.84.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on PRCH shares. Benchmark restated a “buy” rating on shares of Porch Group in a research note on Friday, January 16th. Keefe, Bruyette & Woods upgraded Porch Group from a “market perform” rating to an “outperform” rating and dropped their price target for the company from $13.00 to $10.50 in a research note on Wednesday, February 11th. Zacks Research raised Porch Group from a “strong sell” rating to a “hold” rating in a report on Friday, March 6th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Porch Group in a research note on Monday, December 29th. Eight investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $16.31.

Porch Group Trading Up 3.7%

The stock has a market cap of $932.21 million, a PE ratio of -150.14 and a beta of 3.05. The company’s fifty day moving average is $8.04 and its 200-day moving average is $11.42. The company has a debt-to-equity ratio of 17.20, a current ratio of 1.30 and a quick ratio of 1.30.

Porch Group (NASDAQ:PRCH) last announced its quarterly earnings results on Wednesday, February 11th. The company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.05. The company had revenue of $112.25 million for the quarter, compared to the consensus estimate of $109.13 million. Porch Group had a negative return on equity of 51.86% and a negative net margin of 0.72%. On average, analysts predict that Porch Group, Inc. will post -0.63 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of PRCH. Geode Capital Management LLC raised its position in shares of Porch Group by 2.3% in the second quarter. Geode Capital Management LLC now owns 2,150,086 shares of the company’s stock worth $25,354,000 after acquiring an additional 48,811 shares during the period. Vanguard Group Inc. grew its position in shares of Porch Group by 5.6% during the 3rd quarter. Vanguard Group Inc. now owns 7,252,134 shares of the company’s stock valued at $121,691,000 after acquiring an additional 384,451 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Porch Group by 95.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 924,180 shares of the company’s stock valued at $15,508,000 after purchasing an additional 450,560 shares in the last quarter. G2 Investment Partners Management LLC increased its stake in shares of Porch Group by 28.4% in the 2nd quarter. G2 Investment Partners Management LLC now owns 1,229,183 shares of the company’s stock valued at $14,492,000 after purchasing an additional 271,561 shares in the last quarter. Finally, Algert Global LLC raised its holdings in Porch Group by 2,254.1% in the 3rd quarter. Algert Global LLC now owns 759,664 shares of the company’s stock worth $12,747,000 after purchasing an additional 727,394 shares during the period. 48.48% of the stock is owned by institutional investors and hedge funds.

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.