UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $1.35 Million Stake in Porch Group, Inc. $PRCH

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its stake in shares of Porch Group, Inc. (NASDAQ:PRCH) by 76.1% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 89,568 shares of the company’s stock after selling 284,912 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Porch Group were worth $1,347,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Thompson Siegel & Walmsley LLC lifted its position in Porch Group by 360.9% in the 4th quarter. Thompson Siegel & Walmsley LLC now owns 644,663 shares of the company’s stock worth $5,886,000 after buying an additional 504,803 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Porch Group by 42.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,540,082 shares of the company’s stock valued at $11,040,000 after acquiring an additional 455,817 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in shares of Porch Group in the first quarter worth $1,015,000. Ashford Capital Management Inc. raised its holdings in shares of Porch Group by 72.0% during the first quarter. Ashford Capital Management Inc. now owns 696,180 shares of the company’s stock worth $4,992,000 after acquiring an additional 291,510 shares in the last quarter. Finally, Granahan Investment Management LLC raised its holdings in shares of Porch Group by 9.4% during the first quarter. Granahan Investment Management LLC now owns 12,674,987 shares of the company’s stock worth $90,880,000 after acquiring an additional 1,084,559 shares in the last quarter. 48.48% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Benchmark boosted their target price on Porch Group from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Cantor Fitzgerald raised their price target on Porch Group from $13.00 to $18.00 and gave the stock an “overweight” rating in a research note on Thursday, July 30th. Keefe, Bruyette & Woods lifted their price target on Porch Group from $16.25 to $16.50 and gave the company a “market perform” rating in a report on Thursday, July 30th. Weiss Ratings raised Porch Group from a “sell (d-)” rating to a “sell (d+)” rating in a research note on Thursday, July 30th. Finally, B. Riley Financial increased 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 equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Porch Group has an average rating of “Moderate Buy” and a consensus price target of $18.42.

Porch Group Stock Up 1.0%

PRCH stock opened at $16.45 on Friday. The firm has a market cap of $2.17 billion, a PE ratio of -137.08 and a beta of 3.17. Porch Group, Inc. has a 1 year low of $6.36 and a 1 year high of $19.44. The company has a fifty day simple moving average of $15.51 and a 200 day simple moving average of $11.51. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 20.53.

Porch Group (NASDAQ:PRCH) last posted its earnings results on Wednesday, July 29th. The company reported $0.05 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $131.81 million for the quarter, compared to the consensus estimate of $122.30 million. Sell-side analysts anticipate that Porch Group, Inc. will post -0.09 EPS for the current fiscal year.

Insider Activity

In other news, CFO Shawn Tabak sold 25,000 shares of the stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $16.21, for a total transaction of $405,250.00. Following the transaction, the chief financial officer owned 215,495 shares of the company’s stock, valued at approximately $3,493,173.95. This represents a 10.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 27.78% of the company’s stock.

Porch Group Company Profile

Porch Group, Inc is a technology company that provides software and services for the residential real estate and home services industries. Its platform is designed to help home service businesses manage operations, attract customers, and support homeowners throughout the process of buying, moving into, maintaining, and improving a home.

The company’s products and services have included software for home inspectors, moving companies, contractors, and other service providers. Porch has also operated businesses connected with homeowners insurance and related services, although its portfolio and operating structure have changed over time as the company has adjusted its strategy.

Founded in 2012, Porch Group is headquartered in Seattle, Washington, and primarily serves the U.S.