Moody National Bank Trust Division Acquires 107,102 Shares of Porch Group, Inc. (NASDAQ:PRCH)

Moody National Bank Trust Division increased its holdings in shares of Porch Group, Inc. (NASDAQ:PRCH - Free Report) by 24.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 548,902 shares of the company's stock after buying an additional 107,102 shares during the period. Moody National Bank Trust Division owned about 0.46% of Porch Group worth $4,001,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Jefferies Financial Group Inc. purchased a new stake in shares of Porch Group in the 4th quarter valued at approximately $4,135,000. Squarepoint Ops LLC purchased a new position in shares of Porch Group in the 4th quarter valued at about $57,000. Two Sigma Advisers LP increased its holdings in Porch Group by 44.1% during the 4th quarter. Two Sigma Advisers LP now owns 123,600 shares of the company's stock valued at $608,000 after acquiring an additional 37,800 shares in the last quarter. Two Sigma Investments LP increased its holdings in Porch Group by 1,564.1% during the 4th quarter. Two Sigma Investments LP now owns 197,127 shares of the company's stock valued at $970,000 after acquiring an additional 185,281 shares in the last quarter. Finally, ProShare Advisors LLC increased its holdings in Porch Group by 51.0% during the 4th quarter. ProShare Advisors LLC now owns 22,238 shares of the company's stock valued at $109,000 after acquiring an additional 7,506 shares in the last quarter. 48.48% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on PRCH shares. Benchmark raised their target price on shares of Porch Group from $10.00 to $12.00 and gave the company a "buy" rating in a report on Wednesday, May 7th. Oppenheimer lifted their price target on shares of Porch Group from $8.00 to $9.00 and gave the stock an "outperform" rating in a report on Wednesday, May 7th. Stephens lifted their price target on shares of Porch Group from $8.00 to $10.00 and gave the stock an "overweight" rating in a report on Friday, March 21st. Keefe, Bruyette & Woods lifted their price target on shares of Porch Group from $6.00 to $7.00 and gave the stock a "market perform" rating in a report on Wednesday, May 7th. Finally, Loop Capital reiterated a "buy" rating and set a $13.00 price target (up from $6.00) on shares of Porch Group in a report on Wednesday, May 14th. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $8.89.

Porch Group Trading Up 3.2%

Shares of NASDAQ:PRCH traded up $0.30 during trading on Tuesday, hitting $9.65. 673,427 shares of the company's stock traded hands, compared to its average volume of 2,622,764. The company has a market cap of $1.17 billion, a price-to-earnings ratio of -13.79 and a beta of 2.44. Porch Group, Inc. has a 52 week low of $1.05 and a 52 week high of $12.20. The company has a 50-day moving average price of $7.50 and a 200-day moving average price of $5.92.

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

Insider Buying and Selling

In related news, CFO Shawn Tabak sold 10,000 shares of the firm'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 in the company, valued at approximately $1,167,217.20. This trade represents a 4.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 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 sale, the chief operating officer now 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 disclosure for this sale can be found here. In the last three months, insiders have sold 467,328 shares of company stock valued at $4,404,523. 23.32% of the stock is owned by insiders.

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.