Driehaus Capital Management LLC Purchases Shares of 1,737,732 Porch Group, Inc. (NASDAQ:PRCH)

Driehaus Capital Management LLC purchased a new stake in Porch Group, Inc. (NASDAQ:PRCH - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,737,732 shares of the company's stock, valued at approximately $8,550,000. Driehaus Capital Management LLC owned about 1.45% of Porch Group at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Barclays PLC increased its position in shares of Porch Group by 415.5% during the 3rd quarter. Barclays PLC now owns 134,919 shares of the company's stock valued at $207,000 after purchasing an additional 108,748 shares during the last quarter. GAMMA Investing LLC purchased a new stake in shares of Porch Group during the 4th quarter valued at $50,000. Moody National Bank Trust Division increased its position in shares of Porch Group by 11.5% during the 4th quarter. Moody National Bank Trust Division now owns 441,800 shares of the company's stock valued at $2,174,000 after purchasing an additional 45,639 shares during the last quarter. Nisa Investment Advisors LLC increased its position in shares of Porch Group by 5,776.1% during the 4th quarter. Nisa Investment Advisors LLC now owns 6,640 shares of the company's stock valued at $33,000 after purchasing an additional 6,527 shares during the last quarter. Finally, SG Americas Securities LLC increased its position in shares of Porch Group by 73.0% during the 4th quarter. SG Americas Securities LLC now owns 47,187 shares of the company's stock valued at $232,000 after purchasing an additional 19,915 shares during the last quarter. 48.48% of the stock is owned by hedge funds and other institutional investors.

Porch Group Price Performance

Shares of Porch Group stock traded down $0.76 on Thursday, reaching $10.04. The company had a trading volume of 1,542,842 shares, compared to its average volume of 2,024,498. The firm has a market cap of $1.20 billion, a price-to-earnings ratio of -14.36 and a beta of 2.44. The firm's 50-day moving average price is $6.59 and its two-hundred day moving average price is $5.22. Porch Group, Inc. has a 1 year low of $1.05 and a 1 year high of $11.35.

Porch Group (NASDAQ:PRCH - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $0.02 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.07) by $0.09. The business had revenue of $104.75 million for the quarter, compared to analysts' expectations of $79.44 million. As a group, analysts anticipate that Porch Group, Inc. will post -0.63 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Benchmark increased their price target on Porch Group from $10.00 to $12.00 and gave the stock a "buy" rating in a research note on Wednesday, May 7th. Loop Capital reaffirmed a "buy" rating and issued a $13.00 price target (up from $6.00) on shares of Porch Group in a research note on Wednesday. Stephens boosted their target price on Porch Group from $8.00 to $10.00 and gave the company an "overweight" rating in a research note on Friday, March 21st. Keefe, Bruyette & Woods raised their target price on shares of Porch Group from $6.00 to $7.00 and gave the company a "market perform" rating in a research note on Wednesday, May 7th. Finally, Oppenheimer upped their price target on Porch Group from $8.00 to $9.00 and gave the company an "outperform" rating in a report on Wednesday, May 7th. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $8.89.

Insider Activity at Porch Group

In other news, COO Matthew Neagle sold 60,000 shares of the business's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $6.24, for a total value of $374,400.00. Following the completion of the transaction, the chief operating officer now directly owns 1,384,057 shares of the company's stock, valued at approximately $8,636,515.68. The trade was a 4.15% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Shawn Tabak sold 10,000 shares of the business's stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $5.34, for a total value of $53,400.00. Following the completion of the transaction, the chief financial officer now directly owns 218,580 shares of the company's stock, valued at approximately $1,167,217.20. The trade was a 4.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 455,554 shares of company stock worth $3,831,090 in the last quarter. 23.46% of the stock is owned by company insiders.

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.