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

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

A number of other hedge funds have also bought and sold shares of PRCH. GAMMA Investing LLC lifted 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 buying an additional 778 shares during the period. Hsbc Holdings PLC lifted its stake in shares of Porch Group by 2.8% in the second quarter. Hsbc Holdings PLC now owns 39,370 shares of the company’s stock worth $587,000 after buying an additional 1,065 shares in the last quarter. Moody National Bank Trust Division grew its stake in shares of Porch Group by 0.3% in the second quarter. Moody National Bank Trust Division now owns 658,852 shares of the company’s stock worth $9,909,000 after acquiring an additional 1,700 shares in the last quarter. State of Alaska Department of Revenue grew its stake in shares of Porch Group by 5.1% in the 3rd 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 last quarter. Finally, Osbon Capital Management LLC acquired a new position in Porch Group in the 2nd quarter valued at about $40,000. 48.48% of the stock is currently owned by institutional investors.

More Porch Group News

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%

NASDAQ PRCH opened at $19.73 on Friday. The firm’s fifty day moving average price is $17.57 and its 200 day moving average price is $12.32. Porch Group, Inc. has a 12 month low of $6.36 and a 12 month high of $21.96. The company has a market capitalization of $2.60 billion, a price-to-earnings ratio of 246.62 and a beta of 3.16. The company has a debt-to-equity ratio of 13.21, a current ratio of 1.46 and a quick ratio of 1.46.

Porch Group (NASDAQ:PRCH) last posted its quarterly earnings data on Wednesday, October 28th. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.09. Porch Group had a net margin of 1.81% and a return on equity of 39.28%. The company had revenue of $143.86 million during the quarter, compared to the consensus estimate of $134.65 million. On average, sell-side analysts expect that Porch Group, Inc. will post -0.01 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. B. Riley Financial increased their price objective on Porch Group from $21.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday, October 14th. Oppenheimer increased their price objective on shares of Porch Group from $20.00 to $25.00 and gave the stock an “outperform” rating in a research report on Thursday, October 29th. Weiss Ratings raised shares of Porch Group from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, October 21st. Texas Capital raised Porch Group to a “strong-buy” rating in a research note on Tuesday, September 22nd. Finally, Craig Hallum set a $25.00 price objective on Porch Group in a research note on Thursday, October 29th. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Porch Group currently has a consensus rating of “Buy” and a consensus target price of $20.79.

Insider Buying and Selling at Porch Group

In other Porch Group news, CEO Matt Ehrlichman sold 251,740 shares of the stock in a transaction on Wednesday, November 4th. The stock was sold at an average price of $21.58, for a total transaction of $5,432,549.20. Following the transaction, the chief executive officer owned 15,640,005 shares in the company, valued at $337,511,307.90. This trade represents a 1.58% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Amanda Reierson sold 33,135 shares of the stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $16.46, for a total value of $545,402.10. Following the completion of the transaction, the director owned 134,180 shares in the company, valued at approximately $2,208,602.80. The trade was a 19.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 895,259 shares of company stock worth $17,619,683 in the last three months. 27.78% of the stock is currently owned by company insiders.

Porch Group Company Profile

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.