43,943 Shares of Porch Group, Inc. $PRCH Acquired by Integrity Alliance LLC.

Integrity Alliance LLC. acquired a new position in shares of Porch Group, Inc. (NASDAQ:PRCH) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 43,943 shares of the company’s stock, valued at approximately $732,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. State of Wyoming boosted its position in Porch Group by 213.3% in the third quarter. State of Wyoming now owns 13,279 shares of the company’s stock valued at $221,000 after buying an additional 9,040 shares during the last quarter. State of Alaska Department of Revenue grew its position in shares of Porch Group by 5.1% in the third quarter. State of Alaska Department of Revenue now owns 40,723 shares of the company’s stock valued at $678,000 after purchasing an additional 1,981 shares during the period. GAMMA Investing LLC boosted its holdings in Porch Group by 6.6% in the 3rd quarter. GAMMA Investing LLC now owns 12,503 shares of the company’s stock worth $208,000 after acquiring an additional 778 shares during the period. Integrated Wealth Concepts LLC bought a new position in Porch Group during the 2nd quarter worth approximately $138,000. Finally, NewEdge Advisors LLC acquired a new position in shares of Porch Group during the second quarter valued at $198,000. 48.48% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, COO Matthew Neagle sold 56,250 shares of the business’s stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $20.88, for a total value of $1,174,500.00. Following the completion of the sale, the chief operating officer directly owned 1,736,756 shares in the company, valued at approximately $36,263,465.28. The trade was a 3.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Alan Pickerill sold 10,000 shares of the company’s stock in a transaction dated Tuesday, November 3rd. The stock was sold at an average price of $21.00, for a total transaction of $210,000.00. Following the completion of the sale, the director directly owned 193,356 shares of the company’s stock, valued at $4,060,476. The trade was a 4.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 895,259 shares of company stock worth $17,619,683. 27.78% of the stock is currently owned by company insiders.

Porch Group News Summary

Here are the key news stories impacting Porch Group this week:

• Positive Sentiment: A bullish investment commentary says Porch’s homeowner relationships and property data could support growth in insurance-related fee income. It points to the planned Allied Trust acquisition as a potential source of additional customers and distribution relationships. Porch Group: Home Insurance Growth Story
• Negative Sentiment: CEO Matt Ehrlichman sold 465,955 shares in transactions from November 4–6, while COO Matthew Neagle sold 56,250 shares and Director Alan Pickerill sold 10,000 shares. Repeated sales by senior leaders may weigh on investor sentiment. The CEO’s and COO’s trades were made under pre-arranged Rule 10b5-1 plans, and Ehrlichman still owns more than 15.4 million shares, which may temper the signal. CEO SEC filing COO sale report Director sale report

Porch Group Trading Down 2.9%

Shares of Porch Group stock opened at $19.73 on Friday. Porch Group, Inc. has a twelve month low of $6.36 and a twelve month high of $21.96. The business has a 50-day moving average price of $17.57 and a 200-day moving average price of $12.32. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 13.21. The firm has a market cap of $2.60 billion, a price-to-earnings ratio of 246.62 and a beta of 3.16.

Porch Group (NASDAQ:PRCH) last released its earnings results on Wednesday, October 28th. The company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.01 by $0.09. Porch Group had a net margin of 1.81% and a return on equity of 39.28%. The firm had revenue of $143.86 million during the quarter, compared to analysts’ expectations of $134.65 million. Equities research analysts anticipate that Porch Group, Inc. will post -0.01 EPS for the current fiscal year.

Analysts Set New Price Targets

PRCH has been the topic of several recent analyst reports. Benchmark lifted their target price on shares of Porch Group from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Cantor Fitzgerald boosted their target price on Porch Group from $18.00 to $20.00 and gave the company an “overweight” rating in a research note on Friday, September 25th. Wall Street Zen upgraded Porch Group from a “hold” rating to a “buy” rating in a report on Saturday, October 31st. Texas Capital upgraded Porch Group to a “strong-buy” rating in a report on Tuesday, September 22nd. Finally, Keefe, Bruyette & Woods upped their price target on shares of Porch Group from $16.25 to $16.50 and gave the company a “market perform” rating in a research note on Thursday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $20.79.

About Porch Group

Porch Group, Inc is a technology company that provides software and services for the residential home services industry. Its platform is designed to help businesses manage customer relationships, scheduling, communications, payments, marketing and other operational workflows.

The company serves professionals involved in the home-buying and home-maintenance ecosystem, including home inspection companies and other service providers. Its offerings have included specialized software platforms such as Inspection Support Network and Floify, which support inspection management and mortgage-related workflows, respectively.

Founded in 2012 by Matt Ehrlichman, Porch initially operated as a consumer-focused home improvement marketplace before expanding into vertical software and related services.