D. E. Shaw & Co. Inc. Increases Holdings in Porch Group, Inc. (NASDAQ:PRCH)

D. E. Shaw & Co. Inc. increased its stake in shares of Porch Group, Inc. (NASDAQ:PRCH - Free Report) by 22.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 771,233 shares of the company's stock after acquiring an additional 142,146 shares during the quarter. D. E. Shaw & Co. Inc. owned approximately 0.65% of Porch Group worth $3,794,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of PRCH. Barclays PLC grew its position in shares of Porch Group by 415.5% in the 3rd quarter. Barclays PLC now owns 134,919 shares of the company's stock worth $207,000 after buying an additional 108,748 shares during the last quarter. Nisa Investment Advisors LLC grew its position in shares of Porch Group by 5,776.1% in the 4th quarter. Nisa Investment Advisors LLC now owns 6,640 shares of the company's stock worth $33,000 after buying an additional 6,527 shares during the last quarter. SG Americas Securities LLC grew its position in shares of Porch Group by 73.0% in the 4th quarter. SG Americas Securities LLC now owns 47,187 shares of the company's stock worth $232,000 after buying an additional 19,915 shares during the last quarter. Rik Saylor Financial Inc. bought a new stake in shares of Porch Group in the 4th quarter worth approximately $49,000. Finally, Rhumbline Advisers grew its position in shares of Porch Group by 30.4% in the 4th quarter. Rhumbline Advisers now owns 77,277 shares of the company's stock worth $380,000 after buying an additional 18,024 shares during the last quarter. 48.48% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Porch Group news, CFO Shawn Tabak sold 10,000 shares of the business's stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $5.34, for a total transaction of $53,400.00. Following the completion of the sale, the chief financial officer now 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Matthew Neagle sold 60,000 shares of the business's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $6.24, for a total value of $374,400.00. Following the sale, the chief operating officer now directly owns 1,384,057 shares of the company's stock, valued at $8,636,515.68. This represents a 4.15% decrease in their position. The disclosure for this sale can be found here. Insiders sold 515,554 shares of company stock valued at $4,462,890 over the last 90 days. Company insiders own 23.46% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on PRCH. Stephens lifted their price objective on Porch Group from $8.00 to $10.00 and gave the stock an "overweight" rating in a research report on Friday, March 21st. 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 research note on Wednesday, May 14th. Oppenheimer raised their target price on Porch Group from $8.00 to $9.00 and gave the company an "outperform" rating in a research note on Wednesday, May 7th. Benchmark raised their target price on Porch Group from $10.00 to $12.00 and gave the company a "buy" rating in a research note on Wednesday, May 7th. Finally, Keefe, Bruyette & Woods lifted their price objective on Porch Group from $6.00 to $7.00 and gave the company a "market perform" rating in a research note on Wednesday, May 7th. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $8.89.

Porch Group Stock Down 5.8%

Shares of Porch Group stock traded down $0.59 on Wednesday, reaching $9.51. The company's stock had a trading volume of 4,433,540 shares, compared to its average volume of 2,075,188. Porch Group, Inc. has a 52 week low of $1.05 and a 52 week high of $12.20. The company has a market capitalization of $1.14 billion, a price-to-earnings ratio of -13.59 and a beta of 2.44. The firm's fifty day simple moving average is $7.03 and its two-hundred day simple moving average is $5.49.

Porch Group (NASDAQ:PRCH - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.02 EPS for the quarter, topping the consensus estimate of ($0.07) by $0.09. The firm had revenue of $104.75 million during the quarter, compared to the consensus estimate of $79.44 million. As a group, research analysts predict that Porch Group, Inc. will post -0.63 EPS for the current year.

Porch Group 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.