Jane Street Group LLC Increases Stock Position in Porch Group, Inc. (NASDAQ:PRCH)

Jane Street Group LLC grew its position in shares of Porch Group, Inc. (NASDAQ:PRCH - Free Report) by 777.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 309,475 shares of the company's stock after purchasing an additional 274,209 shares during the period. Jane Street Group LLC owned approximately 0.26% of Porch Group worth $1,523,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of PRCH. Barclays PLC increased its position in shares of Porch Group by 415.5% during the third quarter. Barclays PLC now owns 134,919 shares of the company's stock worth $207,000 after acquiring an additional 108,748 shares during the period. Nisa Investment Advisors LLC increased its position in shares of Porch Group by 5,776.1% during the fourth quarter. Nisa Investment Advisors LLC now owns 6,640 shares of the company's stock worth $33,000 after acquiring an additional 6,527 shares during the period. SG Americas Securities LLC increased its position in shares of Porch Group by 73.0% during the fourth quarter. SG Americas Securities LLC now owns 47,187 shares of the company's stock worth $232,000 after acquiring an additional 19,915 shares during the period. Rik Saylor Financial Inc. purchased a new stake in shares of Porch Group during the fourth quarter worth $49,000. Finally, Rhumbline Advisers increased its position in shares of Porch Group by 30.4% during the fourth quarter. Rhumbline Advisers now owns 77,277 shares of the company's stock worth $380,000 after acquiring an additional 18,024 shares during the period. Hedge funds and other institutional investors own 48.48% of the company's stock.

Analysts Set New Price Targets

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

Insider Buying and Selling

In related 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 value of $53,400.00. Following the transaction, 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 position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Matthew Neagle sold 60,000 shares of the business's stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $10.53, for a total value of $631,800.00. Following the completion of the transaction, the chief operating officer now owns 1,138,080 shares in the company, valued at $11,983,982.40. This trade represents a 5.01% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 515,554 shares of company stock valued at $4,462,890 over the last quarter. 23.46% of the stock is currently owned by insiders.

Porch Group Stock Performance

Shares of PRCH stock traded up $0.27 during mid-day trading on Friday, hitting $10.13. 2,971,316 shares of the stock were exchanged, compared to its average volume of 2,096,964. The stock's fifty day simple moving average is $7.18 and its two-hundred day simple moving average is $5.62. The stock has a market capitalization of $1.22 billion, a price-to-earnings ratio of -14.47 and a beta of 2.44. Porch Group, Inc. has a 12-month low of $1.05 and a 12-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 firm had revenue of $104.75 million for the quarter, compared to analysts' expectations of $79.44 million. On average, research analysts expect that Porch Group, Inc. will post -0.63 earnings per share for the current fiscal 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.