Porch Group (NASDAQ:PRCH) Stock Rating Lowered by Keefe, Bruyette & Woods

Porch Group (NASDAQ:PRCH) was downgraded by equities research analysts at Keefe, Bruyette & Woods from a “moderate buy” rating to a “hold” rating in a report released on Sunday,Zacks.com reports.

PRCH has been the topic of several other research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Porch Group in a report on Friday, May 22nd. Benchmark upped their target price on Porch Group from $21.00 to $22.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Finally, Stephens started coverage on Porch Group in a research report on Monday, May 4th. They set an “overweight” rating and a $12.00 target price on the stock. Six 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. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $18.54.

Porch Group Stock Performance

Shares of PRCH opened at $13.41 on Friday. Porch Group has a 1 year low of $6.36 and a 1 year high of $19.44. The company’s 50 day simple moving average is $11.65 and its 200 day simple moving average is $9.31. The company has a market capitalization of $1.71 billion, a price-to-earnings ratio of -78.88 and a beta of 3.13. The company has a debt-to-equity ratio of 14.87, a quick ratio of 1.28 and a current ratio of 1.28.

Porch Group (NASDAQ:PRCH) last released its earnings results on Tuesday, April 28th. The company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.10) by $0.06. The firm had revenue of $109.44 million during the quarter, compared to analysts’ expectations of $94.72 million. Porch Group had a negative net margin of 3.41% and a negative return on equity of 115.59%. On average, sell-side analysts predict that Porch Group will post -0.04 EPS for the current year.

Insiders Place Their Bets

In other Porch Group news, CEO Matt Ehrlichman sold 124,089 shares of the stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $9.79, for a total transaction of $1,214,831.31. Following the transaction, the chief executive officer owned 16,564,822 shares of the company’s stock, valued at $162,169,607.38. This trade represents a 0.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 1,966,208 shares of company stock worth $18,642,140 over the last quarter. Company insiders own 27.78% of the company’s stock.

Institutional Trading of Porch Group

A number of institutional investors and hedge funds have recently made changes to their positions in PRCH. Osbon Capital Management LLC purchased a new position in shares of Porch Group in the 4th quarter worth $25,000. Aster Capital Management DIFC Ltd boosted its holdings 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 acquiring an additional 1,481 shares during the last quarter. Larson Financial Group LLC grew its position in Porch Group by 444.8% during the third quarter. Larson Financial Group LLC now owns 1,836 shares of the company’s stock valued at $31,000 after acquiring an additional 1,499 shares during the period. Kemnay Advisory Services Inc. purchased a new stake in Porch Group during the fourth quarter valued at about $38,000. Finally, PNC Financial Services Group Inc. grew its position in Porch Group by 697.8% during the first quarter. PNC Financial Services Group Inc. now owns 9,390 shares of the company’s stock valued at $67,000 after acquiring an additional 8,213 shares during the period. 48.48% of the stock is currently owned by institutional investors and hedge funds.

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.