Porch Group, Inc. $PRCH Shares Bought by JPMorgan Chase & Co.

JPMorgan Chase & Co. grew its stake in Porch Group, Inc. (NASDAQ:PRCH) by 95.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 924,180 shares of the company’s stock after acquiring an additional 450,560 shares during the quarter. JPMorgan Chase & Co.’s holdings in Porch Group were worth $15,508,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PRCH. The Manufacturers Life Insurance Company lifted its holdings in Porch Group by 3.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 29,657 shares of the company’s stock valued at $350,000 after purchasing an additional 1,090 shares in the last quarter. Prudential Financial Inc. raised its position in shares of Porch Group by 9.4% in the second quarter. Prudential Financial Inc. now owns 14,220 shares of the company’s stock valued at $168,000 after buying an additional 1,220 shares during the last quarter. Viewpoint Capital Management LLC lifted its stake in shares of Porch Group by 0.7% during the third quarter. Viewpoint Capital Management LLC now owns 209,900 shares of the company’s stock valued at $3,522,000 after buying an additional 1,500 shares during the period. Police & Firemen s Retirement System of New Jersey lifted its stake in shares of Porch Group by 12.0% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 17,915 shares of the company’s stock valued at $211,000 after buying an additional 1,916 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Porch Group by 4.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 48,275 shares of the company’s stock worth $352,000 after acquiring an additional 2,002 shares during the last quarter. Hedge funds and other institutional investors own 48.48% of the company’s stock.

Porch Group Price Performance

PRCH stock opened at $8.17 on Wednesday. The company has a market cap of $1.02 billion, a PE ratio of -163.40 and a beta of 3.05. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 17.20. The stock has a 50-day moving average price of $8.36 and a two-hundred day moving average price of $12.03. Porch Group, Inc. has a 12-month low of $4.64 and a 12-month high of $19.44.

Porch Group (NASDAQ:PRCH) last released its quarterly earnings data on Wednesday, February 11th. The company reported ($0.03) earnings per share for the quarter, beating 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. As a group, research analysts predict that Porch Group, Inc. will post -0.63 EPS for the current year.

Insiders Place Their Bets

In other Porch Group news, CFO Shawn Tabak sold 24,294 shares of the business’s stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $9.66, for a total transaction of $234,680.04. Following the completion of the sale, the chief financial officer directly owned 118,130 shares in the company, valued at $1,141,135.80. The trade was a 17.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold 57,216 shares of company stock worth $553,129 over the last 90 days. Insiders own 23.32% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Weiss Ratings reissued a “sell (d+)” rating on shares of Porch Group in a research note on Monday, December 29th. Zacks Research downgraded Porch Group from a “hold” rating to a “strong sell” rating in a research report on Monday, January 19th. Keefe, Bruyette & Woods raised Porch Group from a “market perform” rating to an “outperform” rating and decreased their price target for the stock from $13.00 to $10.50 in a research note on Wednesday, February 11th. Benchmark restated a “buy” rating on shares of Porch Group in a report on Friday, January 16th. Finally, Oppenheimer set a $20.00 price objective on shares of Porch Group in a report on Thursday, November 6th. Eight investment analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, Porch Group has a consensus rating of “Moderate Buy” and a consensus price target of $16.31.

About Porch Group

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.