Porch Group, Inc. (NASDAQ:PRCH) Shares Sold by Harbor Capital Advisors Inc.

Harbor Capital Advisors Inc. cut its stake in Porch Group, Inc. (NASDAQ:PRCH - Free Report) by 48.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,319,242 shares of the company's stock after selling 1,233,370 shares during the quarter. Harbor Capital Advisors Inc. owned about 1.10% of Porch Group worth $9,617,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the company. Jones Financial Companies Lllp bought a new stake in shares of Porch Group during the fourth quarter valued at approximately $35,000. Raymond James Financial Inc. purchased a new stake in Porch Group in the fourth quarter worth about $50,000. Ameriprise Financial Inc. bought a new position in Porch Group during the 4th quarter worth about $51,000. Tower Research Capital LLC TRC raised its holdings in shares of 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 in the last quarter. Finally, Squarepoint Ops LLC purchased a new stake in shares of Porch Group in the 4th quarter worth approximately $57,000. Institutional investors own 48.48% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on PRCH shares. Stephens increased their target price on Porch Group from $8.00 to $10.00 and gave the company an "overweight" rating in a research report on Friday, March 21st. Keefe, Bruyette & Woods boosted 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. Loop Capital restated a "buy" rating and issued a $13.00 price target (up from $6.00) on shares of Porch Group in a report on Wednesday, May 14th. Benchmark boosted their price objective on shares of Porch Group from $10.00 to $12.00 and gave the stock a "buy" rating in a research note on Wednesday, May 7th. Finally, Oppenheimer raised their target price 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. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $8.89.

Porch Group Price Performance

Porch Group stock traded down $0.64 during trading hours on Friday, hitting $10.62. 1,990,090 shares of the stock traded hands, compared to its average volume of 2,164,206. Porch Group, Inc. has a 1 year low of $1.05 and a 1 year high of $12.20. The stock has a market capitalization of $1.29 billion, a price-to-earnings ratio of -15.17 and a beta of 2.63. The firm's 50 day moving average price is $8.22 and its 200-day moving average price is $6.33.

Porch Group (NASDAQ:PRCH - Get Free Report) last posted 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 business had revenue of $104.75 million for the quarter, compared to analysts' expectations of $79.44 million. Research analysts forecast that Porch Group, Inc. will post -0.63 earnings per share for the current fiscal year.

Insider Activity at Porch Group

In other news, CFO Shawn Tabak sold 30,000 shares of the firm's stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $11.23, for a total transaction of $336,900.00. Following the sale, the chief financial officer now directly owns 172,671 shares in the company, valued at $1,939,095.33. This trade represents a 14.80% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Matthew Neagle sold 60,000 shares of Porch Group stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $6.24, for a total value of $374,400.00. Following the completion of the transaction, the chief operating officer now owns 1,384,057 shares of the company's stock, valued at approximately $8,636,515.68. This represents a 4.15% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 562,328 shares of company stock worth $5,460,573. 23.32% of the stock is owned by corporate insiders.

Porch Group 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.