Porch Group, Inc. (NASDAQ:PRCH) Shares Acquired by Northern Trust Corp

Northern Trust Corp boosted its holdings in shares of Porch Group, Inc. (NASDAQ:PRCH - Free Report) by 5.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 693,800 shares of the company's stock after acquiring an additional 35,164 shares during the period. Northern Trust Corp owned approximately 0.58% of Porch Group worth $3,413,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC boosted its stake in shares of Porch Group by 5,776.1% during the 4th 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. Jones Financial Companies Lllp bought a new stake in shares of Porch Group in the 4th quarter valued at about $35,000. Rik Saylor Financial Inc. bought a new position in Porch Group in the fourth quarter worth approximately $49,000. Raymond James Financial Inc. bought a new position in shares of Porch Group in the fourth quarter valued at approximately $50,000. Finally, 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 valued at $54,000 after acquiring an additional 5,273 shares during the last quarter. 48.48% of the stock is currently owned by institutional investors.

Porch Group Trading Down 4.2%

Porch Group stock traded down $0.41 during mid-day trading on Thursday, hitting $9.43. The company had a trading volume of 1,711,500 shares, compared to its average volume of 2,102,947. The company has a market capitalization of $1.13 billion, a price-to-earnings ratio of -13.47 and a beta of 2.44. The company's fifty day moving average is $7.44 and its 200-day moving average is $5.79. 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 announced its quarterly earnings results on Tuesday, May 6th. The company reported $0.02 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.07) by $0.09. The firm had revenue of $104.75 million for the quarter, compared to analyst estimates of $79.44 million. As a group, sell-side analysts expect that Porch Group, Inc. will post -0.63 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

PRCH has been the subject of several recent research reports. 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 report on Wednesday, May 14th. Keefe, Bruyette & Woods boosted their price target 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 upped their price objective on Porch Group from $8.00 to $9.00 and gave the company an "outperform" rating in a research report on Wednesday, May 7th. Benchmark raised their target price on Porch Group from $10.00 to $12.00 and gave the stock a "buy" rating in a report on Wednesday, May 7th. Finally, Stephens raised their price target on Porch Group from $8.00 to $10.00 and gave the company an "overweight" rating in a report on Friday, March 21st. One investment 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. According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $8.89.

Insiders Place Their Bets

In other news, CFO Shawn Tabak sold 10,000 shares of the business's stock in a transaction on 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 directly owns 218,580 shares of the company's stock, valued at $1,167,217.20. The trade was a 4.37% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Matthew Neagle sold 60,000 shares of the business's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $9.94, for a total transaction of $596,400.00. Following the sale, the chief operating officer now directly owns 1,078,080 shares of the company's stock, valued at $10,716,115.20. This represents a 5.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 467,328 shares of company stock worth $4,404,523 in the last 90 days. Corporate insiders own 23.32% of the company's stock.

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.