D. E. Shaw & Co. Inc. Has $3.79 Million Position in Porch Group, Inc. (NASDAQ:PRCH)

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

Other hedge funds also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC raised its position in Porch Group by 5,776.1% in the fourth 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 period. Jones Financial Companies Lllp purchased a new stake in shares of Porch Group during the fourth quarter worth about $35,000. Rik Saylor Financial Inc. purchased a new stake in shares of Porch Group during the fourth quarter worth about $49,000. Raymond James Financial Inc. purchased a new stake in shares of Porch Group during the fourth quarter worth about $50,000. Finally, Ameriprise Financial Inc. purchased a new stake in shares of Porch Group during the fourth quarter worth about $51,000. 48.48% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In other Porch Group news, COO Matthew Neagle sold 60,000 shares of the company's stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $10.53, for a total value of $631,800.00. Following the completion of the sale, the chief operating officer now directly owns 1,138,080 shares in the company, valued at $11,983,982.40. This represents a 5.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Shawn Tabak sold 10,000 shares of the company's stock in a transaction on Tuesday, April 15th. The shares were 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 in the company, valued at $1,167,217.20. This represents a 4.37% decrease in their position. The disclosure for this sale can be found here. Insiders sold 515,554 shares of company stock worth $4,462,890 over the last ninety days. Company insiders own 23.46% of the company's stock.

Porch Group Price Performance

Shares of NASDAQ PRCH traded up $0.27 during midday trading on Friday, hitting $10.13. 2,971,316 shares of the company's stock were exchanged, compared to its average volume of 2,096,964. The stock's 50 day moving average price is $7.18 and its 200-day moving average price is $5.62. The firm has a market cap of $1.22 billion, a P/E ratio of -14.47 and a beta of 2.44. Porch Group, Inc. has a twelve month low of $1.05 and a twelve month high of $12.20.

Porch Group (NASDAQ:PRCH - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.02 earnings per share (EPS) 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 analyst estimates of $79.44 million. On average, analysts expect that Porch Group, Inc. will post -0.63 EPS for the current fiscal 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.