US Bancorp DE Invests $411,000 in Porch Group, Inc. (NASDAQ:PRCH)

US Bancorp DE bought a new position in Porch Group, Inc. (NASDAQ:PRCH) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 21,229 shares of the company’s stock, valued at approximately $411,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. purchased a new position in shares of Porch Group in the second quarter worth approximately $460,000. Russell Investments Group Ltd. purchased a new position in shares of Porch Group in the second quarter worth approximately $2,277,000. Oppenheimer Asset Management Inc. purchased a new position in shares of Porch Group in the second quarter worth approximately $370,000. Arizona State Retirement System purchased a new position in shares of Porch Group in the second quarter worth approximately $400,000. Finally, Advisor Group Holdings Inc. increased its position in shares of Porch Group by 1,600.6% in the second quarter. Advisor Group Holdings Inc. now owns 81,954 shares of the company’s stock worth $1,584,000 after acquiring an additional 77,135 shares in the last quarter. 67.04% of the stock is currently owned by institutional investors and hedge funds.

A number of brokerages recently commented on PRCH. Benchmark boosted their price objective on shares of Porch Group from $26.00 to $30.00 and gave the company a “buy” rating in a research report on Friday, September 10th. Oppenheimer began coverage on shares of Porch Group in a research report on Monday, June 28th. They set an “outperform” rating and a $28.00 price objective on the stock. Finally, Zacks Investment Research downgraded shares of Porch Group from a “buy” rating to a “hold” rating in a research report on Saturday, August 21st. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $25.14.

In other news, COO Matthew Neagle sold 1,500 shares of the business’s stock in a transaction on Friday, July 9th. The shares were sold at an average price of $19.49, for a total value of $29,235.00. Following the completion of the sale, the chief operating officer now directly owns 322,250 shares in the company, valued at $6,280,652.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders sold 24,800 shares of company stock valued at $532,392 over the last 90 days. 19.20% of the stock is owned by corporate insiders.

NASDAQ PRCH opened at $18.53 on Wednesday. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $1.79 billion, a PE ratio of -9.75 and a beta of 0.12. The company has a 50 day moving average price of $18.84 and a two-hundred day moving average price of $17.67. Porch Group, Inc. has a 12-month low of $10.03 and a 12-month high of $24.41.

Porch Group (NASDAQ:PRCH) last issued its quarterly earnings data on Monday, August 16th. The company reported ($0.17) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.23) by $0.06. As a group, equities analysts anticipate that Porch Group, Inc. will post -0.61 EPS for the current year.

Porch Group Profile

Porch Group, Inc operates a software platform in the United States and Canada. It provides software and services under the ISN, HireAHelper, and Kandela brands to home services companies, such as home inspectors, homebuyers and homeowners, insurance carriers, moving companies, security companies, and TV/internet providers, as well as offers moving concierge services.

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Institutional Ownership by Quarter for Porch Group (NASDAQ:PRCH)

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