Rhumbline Advisers Buys Shares of 65,247 Porch Group, Inc. (NASDAQ:PRCH)

Rhumbline Advisers purchased a new position in shares of Porch Group, Inc. (NASDAQ:PRCH) during the second quarter, Holdings Channel.com reports. The firm purchased 65,247 shares of the company’s stock, valued at approximately $99,000.

Other large investors have also bought and sold shares of the company. Granahan Investment Management LLC boosted its position in shares of Porch Group by 12.0% during the 4th quarter. Granahan Investment Management LLC now owns 11,890,749 shares of the company’s stock worth $36,624,000 after purchasing an additional 1,278,208 shares in the last quarter. Harbor Capital Advisors Inc. purchased a new stake in Porch Group in the 2nd quarter valued at $1,989,000. Natixis bought a new position in Porch Group during the 1st quarter valued at $3,906,000. Wedmont Private Capital bought a new position in Porch Group during the 1st quarter valued at $215,000. Finally, Lazard Asset Management LLC purchased a new position in Porch Group during the 1st quarter worth $525,000. 48.48% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Oppenheimer lowered their target price on Porch Group from $4.50 to $3.50 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Benchmark lowered their price objective on shares of Porch Group from $10.00 to $7.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Cantor Fitzgerald upgraded shares of Porch Group to a “strong-buy” rating in a research note on Tuesday, August 13th. Keefe, Bruyette & Woods decreased their price target on shares of Porch Group from $3.75 to $1.50 and set a “market perform” rating for the company in a research note on Thursday, August 8th. Finally, Craig Hallum dropped their price objective on Porch Group from $5.00 to $3.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Porch Group presently has an average rating of “Buy” and an average target price of $4.18.

Porch Group Stock Down 8.6 %

Porch Group stock opened at $1.54 on Tuesday. The firm has a fifty day simple moving average of $1.48 and a two-hundred day simple moving average of $2.29. Porch Group, Inc. has a twelve month low of $0.50 and a twelve month high of $4.78. The company has a market capitalization of $152.25 million, a PE ratio of -1.35 and a beta of 2.04.

Porch Group (NASDAQ:PRCH) last released its earnings results on Tuesday, August 6th. The company reported ($0.65) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.07). The firm had revenue of $110.84 million during the quarter, compared to the consensus estimate of $117.91 million. During the same period in the previous year, the business posted ($0.73) earnings per share. As a group, equities analysts expect that Porch Group, Inc. will post -0.76 earnings per share for the current fiscal year.

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.