Marathon Trading Investment Management LLC Sells 106,270 Shares of Porch Group, Inc. (NASDAQ:PRCH)

Marathon Trading Investment Management LLC lessened its holdings in shares of Porch Group, Inc. (NASDAQ:PRCH) by 77.0% during the second quarter, Holdings Channel reports. The firm owned 31,830 shares of the company’s stock after selling 106,270 shares during the quarter. Marathon Trading Investment Management LLC’s holdings in Porch Group were worth $48,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Granahan Investment Management LLC increased its stake in shares of Porch Group by 12.0% during the fourth quarter. Granahan Investment Management LLC now owns 11,890,749 shares of the company’s stock valued at $36,624,000 after buying an additional 1,278,208 shares during the period. Renaissance Technologies LLC increased its position in Porch Group by 53.8% during the 2nd quarter. Renaissance Technologies LLC now owns 2,184,500 shares of the company’s stock valued at $3,299,000 after purchasing an additional 763,800 shares during the period. Acadian Asset Management LLC increased its position in Porch Group by 444.5% during the 2nd quarter. Acadian Asset Management LLC now owns 1,571,003 shares of the company’s stock valued at $2,369,000 after purchasing an additional 1,282,500 shares during the period. Harbor Capital Advisors Inc. purchased a new stake in shares of Porch Group in the 2nd quarter worth about $1,989,000. Finally, Natixis bought a new stake in shares of Porch Group during the 1st quarter valued at about $3,906,000. Institutional investors own 48.48% of the company’s stock.

Wall Street Analyst Weigh In

PRCH has been the topic of several research reports. Craig Hallum cut their price objective on Porch Group from $5.00 to $3.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Keefe, Bruyette & Woods dropped their price target on Porch Group from $3.75 to $1.50 and set a “market perform” rating on the stock in a research report on Thursday, August 8th. Cantor Fitzgerald upgraded Porch Group to a “strong-buy” rating in a report on Tuesday, August 13th. Benchmark dropped their target price on shares of Porch Group from $10.00 to $7.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Finally, Northland Securities reduced their target price on shares of Porch Group from $5.00 to $3.25 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th. One research analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $4.18.

Porch Group Price Performance

Shares of NASDAQ:PRCH opened at $1.58 on Thursday. The business has a fifty day moving average price of $1.55 and a 200-day moving average price of $2.41. The company has a market capitalization of $187.66 million, a PE ratio of -1.39 and a beta of 2.04. Porch Group, Inc. has a 1-year low of $0.50 and a 1-year high of $4.78.

Porch Group (NASDAQ:PRCH) last released its quarterly earnings data 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 business had revenue of $110.84 million for the quarter, compared to analyst estimates of $117.91 million. During the same period in the prior year, the company posted ($0.73) EPS. On average, sell-side analysts anticipate that Porch Group, Inc. will post -0.76 earnings per share for the current fiscal year.

About Porch Group

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.