Fintel reports that BlackRock has filed a 13G/A form with the SEC disclosing ownership of 5.45MM shares of Porch Group Inc (PRCH). This represents 5.4% of the company.
In their previous filing dated February 4, 2022 they reported 5.12MM shares and 5.20% of the company, an increase in shares of 6.55% and an increase in total ownership of 0.20% (calculated as current - previous percent ownership).
Analyst Price Forecast Suggests 109.03% Upside
As of February 1, 2023, the average one-year price target for Porch Group is $6.17. The forecasts range from a low of $2.02 to a high of $14.70. The average price target represents an increase of 109.03% from its latest reported closing price of $2.95.
The projected annual revenue for Porch Group is $341MM, an increase of 30.86%. The projected annual EPS is $-0.79.
Fund Sentiment
There are 262 funds or institutions reporting positions in Porch Group. This is a decrease of 39 owner(s) or 12.96%.
Average portfolio weight of all funds dedicated to US:PRCH is 0.1095%, an increase of 16.6512%. Total shares owned by institutions decreased in the last three months by 16.82% to 90,018K shares.
What are large shareholders doing?
Granahan Investment Management holds 12,991,796 shares representing 12.92% ownership of the company. In it's prior filing, the firm reported owning 9,998,058 shares, representing an increase of 23.04%. The firm increased its portfolio allocation in PRCH by 9.19% over the last quarter.
Park West Asset Management holds 9,638,164 shares representing 9.59% ownership of the company. In it's prior filing, the firm reported owning 9,350,629 shares, representing an increase of 2.98%. The firm increased its portfolio allocation in PRCH by 13.34% over the last quarter.
Villere St Denis J & Co holds 5,694,811 shares representing 5.66% ownership of the company. In it's prior filing, the firm reported owning 6,178,376 shares, representing a decrease of 8.49%. The firm decreased its portfolio allocation in PRCH by 24.46% over the last quarter.
Capital World Investors holds 5,520,000 shares representing 5.49% ownership of the company. In it's prior filing, the firm reported owning 7,110,000 shares, representing a decrease of 28.80%. The firm decreased its portfolio allocation in PRCH by 27.89% over the last quarter.
SMCWX - SMALLCAP WORLD FUND INC holds 5,520,000 shares representing 5.49% ownership of the company. In it's prior filing, the firm reported owning 6,610,000 shares, representing a decrease of 19.75%. The firm decreased its portfolio allocation in PRCH by 23.25% over the last quarter.
Porch Group Background Information
(This description is provided by the company.)
Seattle-based Porch Group, the vertical software platform for the home, provides software and services to more than 10,500 home services companies such as home inspectors, moving companies, real estate agencies, utility companies, and warranty companies. Through these relationships and its multiple brands, Porch provides a moving concierge service to homebuyers, helping them save time and make better decisions on critical services, including insurance, moving, security, TV/internet, home repair and improvement, and more.
This story originally appeared on Fintel.
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