Clarius Group LLC Purchases New Position in Porch Group, Inc. (NASDAQ:PRCH)

Clarius Group LLC purchased a new stake in shares of Porch Group, Inc. (NASDAQ:PRCH - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 88,874 shares of the company's stock, valued at approximately $648,000. Clarius Group LLC owned approximately 0.07% of Porch Group as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. FNY Investment Advisers LLC bought a new stake in shares of Porch Group during the first quarter valued at approximately $29,000. Jones Financial Companies Lllp bought a new stake in shares of Porch Group during the fourth quarter valued at approximately $35,000. Raymond James Financial Inc. bought a new stake in shares of Porch Group during the fourth quarter valued at approximately $50,000. Ameriprise Financial Inc. bought a new stake in shares of Porch Group during the fourth quarter valued at approximately $51,000. Finally, Tower Research Capital LLC TRC increased its position in shares of Porch Group by 91.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 11,017 shares of the company's stock valued at $54,000 after acquiring an additional 5,273 shares in the last quarter. Institutional investors own 48.48% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Stephens raised their target price on shares of Porch Group from $8.00 to $10.00 and gave the stock an "overweight" rating in a report 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 stock a "market perform" rating in a report on Wednesday, May 7th. Oppenheimer raised their target price on shares of Porch Group from $8.00 to $9.00 and gave the stock an "outperform" rating in a report on Wednesday, May 7th. Loop Capital restated a "buy" rating and issued a $13.00 target price (up previously from $6.00) on shares of Porch Group in a report on Wednesday, May 14th. Finally, Benchmark raised their target price on shares of Porch Group from $10.00 to $12.00 and gave the stock a "buy" rating in a report on Wednesday, May 7th. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $8.89.

Insider Transactions at Porch Group

In other news, COO Matthew Neagle sold 27,328 shares of the firm's stock in a transaction on Monday, March 24th. The shares were sold at an average price of $6.99, for a total transaction of $191,022.72. Following the sale, the chief operating officer now directly owns 1,356,729 shares in the company, valued at $9,483,535.71. This trade represents a 1.97% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Shawn Tabak sold 10,000 shares of the firm's stock in a transaction on Tuesday, April 15th. The shares were sold at an average price of $5.34, for a total transaction of $53,400.00. Following the sale, the chief financial officer now owns 218,580 shares in the company, valued at $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 have sold 502,328 shares of company stock worth $5,086,173 in the last 90 days. 23.32% of the stock is currently owned by insiders.

Porch Group Price Performance

Shares of Porch Group stock opened at $10.90 on Thursday. The company's fifty day simple moving average is $8.53 and its 200-day simple moving average is $6.48. The stock has a market capitalization of $1.32 billion, a PE ratio of -77.86 and a beta of 2.63. Porch Group, Inc. has a 1-year low of $1.05 and a 1-year high of $12.20.

Porch Group (NASDAQ:PRCH - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $0.02 earnings per share for the quarter, topping the consensus estimate 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, research analysts anticipate that Porch Group, Inc. will post -0.63 EPS for the current 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.

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