G2 Investment Partners Management LLC Has $14.49 Million Holdings in Porch Group, Inc. $PRCH

G2 Investment Partners Management LLC grew its holdings in shares of Porch Group, Inc. (NASDAQ:PRCH) by 28.4% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 1,229,183 shares of the company’s stock after purchasing an additional 271,561 shares during the quarter. Porch Group accounts for 3.2% of G2 Investment Partners Management LLC’s investment portfolio, making the stock its 8th biggest position. G2 Investment Partners Management LLC’s holdings in Porch Group were worth $14,492,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in PRCH. Vanguard Group Inc. grew its holdings in Porch Group by 5.7% in the 1st quarter. Vanguard Group Inc. now owns 5,823,961 shares of the company’s stock worth $42,457,000 after buying an additional 312,370 shares in the last quarter. Marshall Wace LLP boosted its position in Porch Group by 55.2% during the 2nd quarter. Marshall Wace LLP now owns 3,341,484 shares of the company’s stock worth $39,396,000 after acquiring an additional 1,188,273 shares during the period. Driehaus Capital Management LLC grew its stake in shares of Porch Group by 84.6% in the first quarter. Driehaus Capital Management LLC now owns 3,208,312 shares of the company’s stock worth $23,389,000 after purchasing an additional 1,470,580 shares in the last quarter. Invesco Ltd. grew its stake in shares of Porch Group by 72.2% in the first quarter. Invesco Ltd. now owns 2,896,237 shares of the company’s stock worth $21,114,000 after purchasing an additional 1,213,951 shares in the last quarter. Finally, Gilder Gagnon Howe & Co. LLC increased its holdings in shares of Porch Group by 41.3% during the second quarter. Gilder Gagnon Howe & Co. LLC now owns 2,459,623 shares of the company’s stock valued at $28,999,000 after purchasing an additional 719,412 shares during the period. 48.48% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Porch Group

In related news, CFO Shawn Tabak sold 22,216 shares of the stock in a transaction on Thursday, December 4th. The stock was sold at an average price of $9.52, for a total value of $211,496.32. Following the completion of the transaction, the chief financial officer owned 153,130 shares in the company, valued at $1,457,797.60. This trade represents a 12.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 23.32% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts recently weighed in on PRCH shares. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Porch Group in a report on Monday. Cantor Fitzgerald restated an “overweight” rating and set a $20.00 price target on shares of Porch Group in a research report on Tuesday, September 2nd. B. Riley reiterated a “buy” rating on shares of Porch Group in a report on Thursday, November 6th. Benchmark reiterated a “buy” rating on shares of Porch Group in a research note on Tuesday, November 25th. Finally, The Goldman Sachs Group initiated coverage on Porch Group in a research report on Tuesday, September 2nd. They issued a “buy” rating and a $21.00 target price for the company. Seven equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, Porch Group currently has an average rating of “Moderate Buy” and an average price target of $17.00.

Porch Group Trading Down 5.3%

Porch Group stock opened at $9.92 on Friday. The firm has a market cap of $1.23 billion, a price-to-earnings ratio of 34.21 and a beta of 3.11. Porch Group, Inc. has a 1 year low of $3.72 and a 1 year high of $19.44. The firm’s 50 day moving average price is $12.43 and its two-hundred day moving average price is $13.53. The company has a debt-to-equity ratio of 36.18, a quick ratio of 1.33 and a current ratio of 1.33.

Porch Group (NASDAQ:PRCH) last released its quarterly earnings data on Wednesday, November 5th. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.02). The company had revenue of $118.08 million for the quarter, compared to the consensus estimate of $114.42 million. Porch Group had a negative return on equity of 51.86% and a net margin of 6.91%. On average, research analysts predict that Porch Group, Inc. will post -0.63 EPS for the current fiscal year.

About Porch Group

Porch Group, Inc, together with its subsidiaries, operates a vertical software and insurance platform in the United States. The company operates in two segments, Vertical Software and Insurance. The Vertical Software segment provides software and services to inspection, mortgage, and title companies on a subscription and transactional basis, as well as move and post-move services.