Porch Group, Inc. (NASDAQ:PRCH) Short Interest Down 14.0% in April

Porch Group, Inc. (NASDAQ:PRCH) was the recipient of a significant decrease in short interest in the month of April. As of April 15th, there was short interest totalling 7,800,000 shares, a decrease of 14.0% from the March 31st total of 9,070,000 shares. Approximately 10.4% of the shares of the stock are sold short. Based on an average trading volume of 1,570,000 shares, the short-interest ratio is currently 5.0 days.

Analyst Ratings Changes

PRCH has been the topic of a number of research analyst reports. 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 set a $6.00 target price on shares of Porch Group in a research report on Thursday, April 11th. Finally, Keefe, Bruyette & Woods boosted their target price on 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 related news, CFO Shawn Tabak sold 19,040 shares of the company’s stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $4.04, for a total transaction of $76,921.60. Following the transaction, the chief financial officer now owns 292,311 shares of the company’s stock, valued at $1,180,936.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 20.95% of the stock is currently owned by corporate insiders.

Institutional Trading of Porch Group

Several institutional investors and hedge funds have recently made changes to their positions in PRCH. Victory Capital Management Inc. purchased a new position in Porch Group during the fourth quarter worth about $32,000. Cape Investment Advisory Inc. purchased a new position in Porch Group during the fourth quarter worth about $39,000. SG Americas Securities LLC purchased a new position in Porch Group during the fourth quarter worth about $53,000. Alpha Cubed Investments LLC purchased a new position in Porch Group during the fourth quarter worth about $88,000. Finally, AJOVista LLC purchased a new position in Porch Group during the fourth quarter worth about $95,000. 48.48% of the stock is currently owned by hedge funds and other institutional investors.

Porch Group Stock Down 7.3 %

Shares of NASDAQ:PRCH opened at $3.19 on Wednesday. Porch Group has a 52-week low of $0.50 and a 52-week high of $4.78. The stock’s fifty day simple moving average is $3.60 and its 200-day simple moving average is $2.54. The company has a market capitalization of $311.34 million, a P/E ratio of -2.26 and a beta of 2.16.

Porch Group (NASDAQ:PRCH) last issued its quarterly earnings data on Thursday, March 7th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.19) by $0.13. Porch Group had a negative return on equity of 1,182.09% and a negative net margin of 31.12%. The business had revenue of $114.61 million for the quarter, compared to the consensus estimate of $99.60 million. During the same period in the prior year, the business earned ($0.32) earnings per share. On average, sell-side analysts anticipate that Porch Group will post -0.83 earnings per share for the current 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.