Nuveen Asset Management LLC Increases Holdings in Porch Group, Inc. (NASDAQ:PRCH)

Nuveen Asset Management LLC lifted its stake in shares of Porch Group, Inc. (NASDAQ:PRCH - Free Report) by 314.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 661,083 shares of the company's stock after buying an additional 501,425 shares during the quarter. Nuveen Asset Management LLC owned about 0.55% of Porch Group worth $3,253,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Jones Financial Companies Lllp bought a new position in Porch Group in the 4th quarter valued at about $35,000. Rik Saylor Financial Inc. bought a new stake in Porch Group in the 4th quarter valued at $49,000. Raymond James Financial Inc. bought a new stake in Porch Group in the 4th quarter valued at $50,000. Ameriprise Financial Inc. acquired a new position in Porch Group in the 4th quarter valued at $51,000. Finally, Tower Research Capital LLC TRC increased its position in Porch Group by 91.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 11,017 shares of the company's stock worth $54,000 after buying an additional 5,273 shares during the period. Institutional investors own 48.48% of the company's stock.

Insider Buying and Selling

In other news, CFO Shawn Tabak sold 10,000 shares of Porch Group 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 approximately $1,167,217.20. The trade was a 4.37% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Matthew Neagle sold 27,328 shares of the company's stock in a transaction on Monday, March 24th. The stock was sold at an average price of $6.99, for a total transaction of $191,022.72. Following the completion of the transaction, the chief operating officer now owns 1,356,729 shares of the company's stock, valued at $9,483,535.71. This trade represents a 1.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 467,328 shares of company stock worth $4,404,523. Insiders own 23.32% of the company's stock.

Porch Group Price Performance

Shares of PRCH traded down $0.13 during midday trading on Thursday, hitting $9.50. 306,058 shares of the company traded hands, compared to its average volume of 2,602,890. The stock has a 50-day moving average of $7.59 and a 200-day moving average of $5.97. Porch Group, Inc. has a one year low of $1.05 and a one year high of $12.20. The firm has a market cap of $1.15 billion, a P/E ratio of -13.57 and a beta of 2.63.

Porch Group (NASDAQ:PRCH - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.02 EPS for the quarter, beating analysts' consensus estimates 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. Sell-side analysts forecast 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 a number of analyst reports. Oppenheimer lifted their price target on shares of 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 shares of Porch Group from $10.00 to $12.00 and gave the company a "buy" rating in a report on Wednesday, May 7th. Loop Capital reissued a "buy" rating and set a $13.00 price target (up previously from $6.00) on shares of Porch Group in a report on Wednesday, May 14th. Stephens increased their price target on Porch Group from $8.00 to $10.00 and gave the company an "overweight" rating in a research note on Friday, March 21st. Finally, Keefe, Bruyette & Woods increased their price objective on Porch Group from $6.00 to $7.00 and gave the company a "market perform" rating in a report on Wednesday, May 7th. One investment 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 data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $8.89.

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.