95,490 Shares in Porch Group, Inc. $PRCH Purchased by RAM Investment Partners LLC

RAM Investment Partners LLC purchased a new position in Porch Group, Inc. (NASDAQ:PRCH) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 95,490 shares of the company’s stock, valued at approximately $872,000.

Other institutional investors have also modified their holdings of the company. Aster Capital Management DIFC Ltd lifted its stake in shares of Porch Group by 956.3% in the third quarter. Aster Capital Management DIFC Ltd now owns 1,521 shares of the company’s stock worth $26,000 after acquiring an additional 1,377 shares in the last quarter. Larson Financial Group LLC lifted its stake in shares of Porch Group by 444.8% in the third quarter. Larson Financial Group LLC now owns 1,836 shares of the company’s stock worth $31,000 after acquiring an additional 1,499 shares in the last quarter. RiverPark Advisors LLC acquired a new position in shares of Porch Group in the third quarter worth about $39,000. State of Wyoming acquired a new position in shares of Porch Group in the second quarter worth about $111,000. Finally, GSA Capital Partners LLP acquired a new position in shares of Porch Group in the third quarter worth about $168,000. Institutional investors and hedge funds own 48.48% of the company’s stock.

Insider Transactions at Porch Group

In related news, CEO Matt Ehrlichman sold 145,882 shares of the stock in a transaction that occurred on Tuesday, April 14th. The stock was sold at an average price of $6.84, for a total value of $997,832.88. Following the completion of the transaction, the chief executive officer directly owned 17,163,175 shares of the company’s stock, valued at $117,396,117. This represents a 0.84% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 2,505,010 shares of company stock valued at $22,195,198. Corporate insiders own 27.78% of the company’s stock.

Wall Street Analysts Forecast Growth

PRCH has been the topic of several recent analyst reports. Benchmark boosted their price target on Porch Group from $21.00 to $22.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Zacks Research upgraded Porch Group from a “strong sell” rating to a “hold” rating in a research note on Friday, March 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Porch Group in a research note on Friday, May 22nd. Finally, Stephens initiated coverage on Porch Group in a research note on Monday, May 4th. They issued an “overweight” rating and a $12.00 price target on the stock. Seven 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’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $17.21.

Porch Group Stock Performance

Shares of PRCH stock opened at $9.72 on Friday. Porch Group, Inc. has a 12-month low of $6.36 and a 12-month high of $19.44. The firm has a market capitalization of $1.24 billion, a price-to-earnings ratio of -57.17 and a beta of 3.22. The business has a 50 day simple moving average of $9.11 and a 200 day simple moving average of $8.68. The company has a debt-to-equity ratio of 14.87, a current ratio of 1.28 and a quick ratio of 1.28.

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