Ashford Capital Management Inc. Lowers Holdings in Porch Group, Inc. $PRCH

Ashford Capital Management Inc. trimmed its holdings in Porch Group, Inc. (NASDAQ:PRCH) by 23.4% during the 4th quarter, Holdings Channel.com reports. The fund owned 404,670 shares of the company’s stock after selling 123,710 shares during the period. Ashford Capital Management Inc.’s holdings in Porch Group were worth $3,695,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in PRCH. AQR Capital Management LLC lifted its position in shares of Porch Group by 134.7% in the first quarter. AQR Capital Management LLC now owns 226,795 shares of the company’s stock valued at $1,653,000 after acquiring an additional 130,166 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Porch Group by 4.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 48,275 shares of the company’s stock worth $352,000 after buying an additional 2,002 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Porch Group by 2.3% in the first quarter. Goldman Sachs Group Inc. now owns 1,161,064 shares of the company’s stock worth $8,464,000 after buying an additional 26,119 shares in the last quarter. Creative Planning purchased a new stake in shares of Porch Group in the second quarter worth about $136,000. Finally, Legal & General Group Plc lifted its position in shares of Porch Group by 1,203.8% in the second quarter. Legal & General Group Plc now owns 108,759 shares of the company’s stock worth $1,282,000 after buying an additional 100,417 shares in the last quarter. 48.48% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on PRCH. Zacks Research upgraded Porch Group from a “strong sell” rating to a “hold” rating in a research report on Friday, March 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Porch Group in a research report on Friday, May 22nd. Benchmark boosted their target price on Porch Group from $21.00 to $22.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Finally, Stephens began coverage on Porch Group in a research report on Monday, May 4th. They issued an “overweight” rating and a $12.00 target price on the stock. Seven investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $17.21.

Porch Group Trading Up 8.6%

Shares of PRCH stock opened at $11.40 on Wednesday. Porch Group, Inc. has a 1 year low of $6.36 and a 1 year high of $19.44. The company has a debt-to-equity ratio of 14.87, a current ratio of 1.28 and a quick ratio of 1.28. The stock’s 50 day simple moving average is $9.31 and its two-hundred day simple moving average is $8.70. The company has a market cap of $1.46 billion, a PE ratio of -67.05 and a beta of 3.22.

Porch Group (NASDAQ:PRCH) last issued its quarterly earnings data on Tuesday, April 28th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.06. Porch Group had a negative return on equity of 115.59% and a negative net margin of 3.41%.The business had revenue of $109.44 million for the quarter, compared to the consensus estimate of $94.72 million. Research analysts predict that Porch Group, Inc. will post -0.04 earnings per share for the current year.

Insider Activity at Porch Group

In other news, CEO Matt Ehrlichman sold 145,882 shares of the stock in a transaction that occurred on Tuesday, April 14th. The stock was sold at an average price of $6.84, for a total value of $997,832.88. Following the sale, the chief executive officer directly owned 17,163,175 shares in the company, valued at approximately $117,396,117. This represents a 0.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 2,505,010 shares of company stock worth $22,195,198 over the last quarter. Corporate insiders own 27.78% of the company’s stock.

Porch Group 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.