Two Sigma Investments LP Raises Stake in Porch Group, Inc. (NASDAQ:PRCH)

Two Sigma Investments LP grew its holdings in shares of Porch Group, Inc. (NASDAQ:PRCH - Free Report) by 1,564.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 197,127 shares of the company's stock after buying an additional 185,281 shares during the period. Two Sigma Investments LP owned approximately 0.16% of Porch Group worth $970,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Jones Financial Companies Lllp purchased a new position in Porch Group during the 4th quarter worth $35,000. Raymond James Financial Inc. purchased a new stake in shares of Porch Group during the fourth quarter worth $50,000. Ameriprise Financial Inc. bought a new stake in shares of Porch Group during the fourth quarter valued at about $51,000. Tower Research Capital LLC TRC boosted its holdings in Porch Group by 91.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 11,017 shares of the company's stock valued at $54,000 after purchasing an additional 5,273 shares during the period. Finally, Bayesian Capital Management LP bought a new position in Porch Group in the 4th quarter worth about $62,000. Institutional investors and hedge funds own 48.48% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on PRCH. Stephens boosted their price objective 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. Benchmark upped 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. Oppenheimer raised their price objective on shares of Porch Group from $8.00 to $9.00 and gave the company an "outperform" rating in a research note on Wednesday, May 7th. Keefe, Bruyette & Woods raised their target price 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 objective (up previously from $6.00) on shares of Porch Group in a research report on Wednesday, May 14th. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $8.89.

Insiders Place Their Bets

In other news, CFO Shawn Tabak sold 10,000 shares of the company's stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $5.34, for a total transaction of $53,400.00. Following the sale, the chief financial officer now owns 218,580 shares of the company's stock, valued at approximately $1,167,217.20. This represents a 4.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Matthew Neagle sold 27,328 shares of Porch Group stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $6.99, for a total value 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. The trade was a 1.97% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 467,328 shares of company stock valued at $4,404,523. Insiders own 23.32% of the company's stock.

Porch Group Trading Down 0.4%

Shares of PRCH traded down $0.05 during mid-day trading on Monday, hitting $10.82. The company's stock had a trading volume of 1,091,317 shares, compared to its average volume of 2,143,351. The firm has a market capitalization of $1.31 billion, a price-to-earnings ratio of -15.47 and a beta of 2.63. Porch Group, Inc. has a 52-week low of $1.05 and a 52-week high of $12.20. The company's 50-day moving average is $7.70 and its 200-day moving average is $6.10.

Porch Group (NASDAQ:PRCH - Get Free Report) last released its 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 company had revenue of $104.75 million for the quarter, compared to analysts' expectations of $79.44 million. As a group, sell-side analysts predict that Porch Group, Inc. will post -0.63 earnings per share for the current fiscal 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.