GAMMA Investing LLC Increases Stock Position in Porch Group, Inc. (NASDAQ:PRCH)

GAMMA Investing LLC increased its position in Porch Group, Inc. (NASDAQ:PRCH - Free Report) by 801.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 91,285 shares of the company's stock after buying an additional 81,160 shares during the quarter. GAMMA Investing LLC owned 0.08% of Porch Group worth $665,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Granahan Investment Management LLC lifted its position in Porch Group by 19.0% in the 4th quarter. Granahan Investment Management LLC now owns 11,891,581 shares of the company's stock worth $58,507,000 after buying an additional 1,897,816 shares during the last quarter. Vanguard Group Inc. lifted its position in Porch Group by 24.9% in the 4th quarter. Vanguard Group Inc. now owns 5,511,591 shares of the company's stock worth $27,117,000 after buying an additional 1,100,224 shares during the last quarter. Portolan Capital Management LLC lifted its position in Porch Group by 476.0% in the 4th quarter. Portolan Capital Management LLC now owns 2,299,635 shares of the company's stock worth $11,314,000 after buying an additional 1,900,416 shares during the last quarter. Geode Capital Management LLC lifted its position in Porch Group by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 2,012,705 shares of the company's stock worth $9,905,000 after buying an additional 24,824 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its position in Porch Group by 4.2% in the 4th quarter. Renaissance Technologies LLC now owns 1,910,102 shares of the company's stock worth $9,398,000 after buying an additional 76,701 shares during the last quarter. Institutional investors own 48.48% of the company's stock.

Insider Buying and Selling

In related news, CFO Shawn Tabak sold 30,000 shares of the firm's stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $11.23, for a total value of $336,900.00. Following the completion of the sale, the chief financial officer now owns 172,671 shares of the company's stock, valued at $1,939,095.33. This trade represents a 14.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Alan R. Pickerill sold 40,000 shares of the firm's stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $11.26, for a total value of $450,400.00. Following the completion of the sale, the director now directly owns 182,416 shares of the company's stock, valued at $2,054,004.16. The trade was a 17.98% decrease in their position. The disclosure for this sale can be found here. Insiders sold 502,328 shares of company stock valued at $5,086,173 over the last quarter. 23.32% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms recently weighed in on PRCH. Keefe, Bruyette & Woods boosted 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. Oppenheimer boosted their target price on Porch Group from $8.00 to $9.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 7th. Stephens boosted their price objective on Porch Group from $8.00 to $10.00 and gave the company an "overweight" rating in a research report on Friday, March 21st. Loop Capital reissued a "buy" rating and set a $13.00 price objective (up previously from $6.00) on shares of Porch Group in a research note 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 analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Porch Group currently has a consensus rating of "Buy" and a consensus price target of $8.89.

Porch Group Stock Down 1.7%

Shares of Porch Group stock traded down $0.18 on Friday, hitting $10.72. The stock had a trading volume of 1,843,123 shares, compared to its average volume of 2,181,878. Porch Group, Inc. has a one year low of $1.05 and a one year high of $12.20. The stock has a market cap of $1.30 billion, a price-to-earnings ratio of -76.57 and a beta of 2.63. The stock's 50-day simple moving average is $8.75 and its two-hundred day simple moving average is $6.59.

Porch Group (NASDAQ:PRCH - Get Free Report) last issued its earnings results 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 firm had revenue of $104.75 million during the quarter, compared to the consensus estimate of $79.44 million. As a group, equities analysts predict that Porch Group, Inc. will post -0.63 EPS for the current fiscal year.

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.