Porch Group, Inc. $PRCH Shares Sold by Granahan Investment Management LLC

Granahan Investment Management LLC cut its stake in Porch Group, Inc. (NASDAQ:PRCH) by 17.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,636,692 shares of the company’s stock after selling 1,995,083 shares during the period. Porch Group accounts for about 6.6% of Granahan Investment Management LLC’s investment portfolio, making the stock its biggest position. Granahan Investment Management LLC owned approximately 7.79% of Porch Group worth $161,704,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of PRCH. Geode Capital Management LLC raised its position in Porch Group by 2.3% in the 2nd quarter. Geode Capital Management LLC now owns 2,150,086 shares of the company’s stock worth $25,354,000 after purchasing an additional 48,811 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Porch Group by 5.6% during the 3rd quarter. Vanguard Group Inc. now owns 7,252,134 shares of the company’s stock worth $121,691,000 after buying an additional 384,451 shares in the last quarter. JPMorgan Chase & Co. boosted its position in 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 buying an additional 450,560 shares during the last quarter. G2 Investment Partners Management LLC boosted its position in 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 buying an additional 271,561 shares during the last quarter. Finally, Gilder Gagnon Howe & Co. LLC increased its stake in shares of Porch Group by 41.3% in the 2nd quarter. Gilder Gagnon Howe & Co. LLC now owns 2,459,623 shares of the company’s stock valued at $28,999,000 after buying an additional 719,412 shares during the period. 48.48% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Porch Group Stock Performance

PRCH stock opened at $7.58 on Monday. The business’s fifty day moving average is $8.15 and its 200-day moving average is $11.57. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 17.20. The company has a market cap of $943.41 million, a P/E ratio of -151.60 and a beta of 3.05. Porch Group, Inc. has a twelve month low of $4.64 and a twelve month high of $19.44.

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

Porch Group Profile

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.