Porch Group, Inc. (NASDAQ:PRCH) Shares Sold by Viewpoint Capital Management LLC

Viewpoint Capital Management LLC lessened its stake in Porch Group, Inc. (NASDAQ:PRCH) by 5.3% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 180,000 shares of the company’s stock after selling 10,000 shares during the quarter. Viewpoint Capital Management LLC’s holdings in Porch Group were worth $776,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PRCH. Wedmont Private Capital purchased a new position in Porch Group during the 1st quarter worth approximately $215,000. Quadrature Capital Ltd acquired a new stake in shares of Porch Group in the 4th quarter worth $189,000. Granahan Investment Management LLC boosted its holdings in shares of Porch Group by 12.0% in the fourth quarter. Granahan Investment Management LLC now owns 11,890,749 shares of the company’s stock valued at $36,624,000 after acquiring an additional 1,278,208 shares in the last quarter. CastleKnight Management LP acquired a new position in shares of Porch Group during the fourth quarter worth about $631,000. Finally, Cape Investment Advisory Inc. purchased a new position in Porch Group during the fourth quarter worth about $39,000. Institutional investors and hedge funds own 48.48% of the company’s stock.

Porch Group Price Performance

Shares of Porch Group stock remained flat at $1.51 on Friday. 11,165,702 shares of the company traded hands, compared to its average volume of 912,251. Porch Group, Inc. has a 1-year low of $0.50 and a 1-year high of $4.78. The stock has a market cap of $149.78 million, a P/E ratio of -1.32 and a beta of 2.11. The business has a 50-day moving average of $2.41 and a two-hundred day moving average of $2.87.

Porch Group (NASDAQ:PRCH) last announced its earnings results on Wednesday, May 8th. The company reported ($0.21) EPS for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.12. Porch Group had a negative return on equity of 1,182.09% and a negative net margin of 23.68%. The firm had revenue of $115.44 million for the quarter, compared to analysts’ expectations of $102.60 million. As a group, analysts expect that Porch Group, Inc. will post -0.65 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Cantor Fitzgerald boosted their target price on Porch Group from $3.00 to $5.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 3rd. Stephens reiterated an “overweight” rating and issued a $6.00 price target on shares of Porch Group in a report on Thursday, April 11th. Finally, Keefe, Bruyette & Woods upped their target price on shares of Porch Group from $3.50 to $3.75 and gave the stock a “market perform” rating in a research report on Friday, March 22nd.

Insider Buying and Selling

In other Porch Group news, CFO Shawn Tabak sold 15,000 shares of the company’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $2.02, for a total value of $30,300.00. Following the transaction, the chief financial officer now directly owns 295,142 shares in the company, valued at approximately $596,186.84. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 23.46% of the stock is currently owned by company insiders.

Porch Group Company Profile

Porch Group, Inc, together with its subsidiaries, operates a vertical software and insurance platform in the United States. The company operates in two segments, Vertical Software and Insurance. The Vertical Software segment provides software and services to inspection, mortgage, and title companies on a subscription and transactional basis, as well as move and post-move services.