Jefferies Financial Group Inc. Buys Shares of 840,356 Porch Group, Inc. (NASDAQ:PRCH)

Jefferies Financial Group Inc. acquired a new position in Porch Group, Inc. (NASDAQ:PRCH - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 840,356 shares of the company's stock, valued at approximately $4,135,000. Jefferies Financial Group Inc. owned about 0.70% of Porch Group at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in PRCH. Arrowstreet Capital Limited Partnership purchased a new position in shares of Porch Group during the fourth quarter worth approximately $176,000. JPMorgan Chase & Co. increased its position in shares of Porch Group by 225.1% during the fourth quarter. JPMorgan Chase & Co. now owns 730,340 shares of the company's stock worth $3,593,000 after acquiring an additional 505,660 shares during the period. Vanguard Group Inc. increased its position in shares of Porch Group by 24.9% during the fourth quarter. Vanguard Group Inc. now owns 5,511,591 shares of the company's stock worth $27,117,000 after acquiring an additional 1,100,224 shares during the period. 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 worth $54,000 after acquiring an additional 5,273 shares during the period. Finally, MetLife Investment Management LLC purchased a new position in shares of Porch Group during the fourth quarter worth approximately $245,000. Institutional investors own 48.48% of the company's stock.

Insider Transactions at Porch Group

In other news, CFO Shawn Tabak sold 10,000 shares of the business's stock in a transaction dated Tuesday, April 15th. The shares were 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 $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 Securities & Exchange Commission, which is available at this link. Also, COO Matthew Neagle sold 250,000 shares of the company's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $10.23, for a total transaction of $2,557,500.00. Following the sale, the chief operating officer now directly owns 1,198,080 shares of the company's stock, valued at approximately $12,256,358.40. This represents a 17.26% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 467,328 shares of company stock worth $4,404,523. Company insiders own 23.32% of the company's stock.

Analyst Ratings Changes

PRCH has been the topic of a number of research reports. 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 research report on Friday, March 21st. 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 research report on Wednesday, May 7th. Keefe, Bruyette & Woods lifted their price objective on shares of Porch Group from $6.00 to $7.00 and gave the company a "market perform" rating in a report on Wednesday, May 7th. Loop Capital reissued a "buy" rating and set a $13.00 price objective (up from $6.00) on shares of Porch Group in a report on Wednesday, May 14th. Finally, Oppenheimer lifted their price objective on shares of Porch Group from $8.00 to $9.00 and gave the company an "outperform" rating in a report on Wednesday, May 7th. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $8.89.

Porch Group Price Performance

NASDAQ PRCH traded down $0.24 on Friday, hitting $9.19. The stock had a trading volume of 4,006,693 shares, compared to its average volume of 2,118,940. The business's fifty day moving average price is $7.47 and its 200 day moving average price is $5.85. Porch Group, Inc. has a 52-week low of $1.05 and a 52-week high of $12.20. The stock has a market cap of $1.12 billion, a price-to-earnings ratio of -13.13 and a beta of 2.44.

Porch Group (NASDAQ:PRCH - Get Free Report) last released its quarterly 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 analysts' expectations of $79.44 million. As a group, sell-side analysts anticipate that Porch Group, Inc. will post -0.63 EPS for the current 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.