Porch Group (NASDAQ:PRCH) Stock Price Down 7.3% – Time to Sell?

Porch Group, Inc. (NASDAQ:PRCH)’s share price traded down 7.3% during trading on Tuesday . The stock traded as low as $16.71 and last traded at $16.6350. 731,495 shares were traded during trading, a decline of 58% from the average session volume of 1,727,255 shares. The stock had previously closed at $17.94.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Cantor Fitzgerald increased their price target on Porch Group from $13.00 to $18.00 and gave the stock an “overweight” rating in a research report on Thursday, July 30th. Weiss Ratings raised shares of Porch Group from a “sell (d-)” rating to a “sell (d+)” rating in a research note on Thursday, July 30th. Benchmark increased their price target on shares of Porch Group from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Keefe, Bruyette & Woods raised their price target on shares of Porch Group from $16.25 to $16.50 and gave the company a “market perform” rating in a report on Thursday, July 30th. Finally, B. Riley Financial upped their price objective on Porch Group from $19.00 to $21.00 and gave the stock a “buy” rating in a report on Monday, August 3rd. Five investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $18.42.

Porch Group Stock Down 7.1%

The firm’s 50 day moving average price is $15.42 and its 200-day moving average price is $11.30. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 20.53. The company has a market cap of $2.20 billion, a P/E ratio of -138.54 and a beta of 3.17.

Porch Group (NASDAQ:PRCH) last posted its quarterly earnings results on Wednesday, July 29th. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.08. Porch Group had a negative net margin of 2.67% and a negative return on equity of 68.47%. The business had revenue of $131.81 million during the quarter, compared to the consensus estimate of $122.30 million. As a group, equities research analysts expect that Porch Group, Inc. will post -0.09 EPS for the current year.

Insider Buying and Selling at Porch Group

In other news, CFO Shawn Tabak sold 25,000 shares of the firm’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $16.21, for a total value of $405,250.00. Following the transaction, the chief financial officer directly owned 215,495 shares in the company, valued at $3,493,173.95. This trade represents a 10.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 27.78% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Porch Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PRCH. Osbon Capital Management LLC bought a new stake in shares of Porch Group in the 4th quarter valued at about $25,000. Aster Capital Management DIFC Ltd increased its stake in Porch Group by 97.4% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 3,002 shares of the company’s stock valued at $27,000 after purchasing an additional 1,481 shares in the last quarter. Larson Financial Group LLC raised its holdings in 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 purchasing an additional 1,499 shares during the period. Kemnay Advisory Services Inc. bought a new position in shares of Porch Group during the fourth quarter worth $38,000. Finally, State of Wyoming acquired a new position in shares of Porch Group in the 2nd quarter valued at $64,000. Institutional investors own 48.48% of the company’s stock.

Porch Group Company 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.