XTX Topco Ltd Sells 38,755 Shares of Porch Group, Inc. (NASDAQ:PRCH)

XTX Topco Ltd lowered its stake in Porch Group, Inc. (NASDAQ:PRCH - Free Report) by 34.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 74,920 shares of the company's stock after selling 38,755 shares during the period. XTX Topco Ltd owned 0.06% of Porch Group worth $546,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. FNY Investment Advisers LLC acquired a new stake in shares of Porch Group in the first quarter valued at approximately $29,000. CWM LLC grew its holdings in Porch Group by 112.2% during the 1st quarter. CWM LLC now owns 8,732 shares of the company's stock worth $64,000 after acquiring an additional 4,617 shares during the period. Raymond James Financial Inc. acquired a new stake in Porch Group during the 4th quarter worth $50,000. Ameriprise Financial Inc. acquired a new stake in Porch Group during the 4th quarter worth $51,000. Finally, Tower Research Capital LLC TRC grew its holdings 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 acquiring an additional 5,273 shares during the period. Institutional investors and hedge funds own 48.48% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on PRCH. B. Riley began coverage on shares of Porch Group in a research report on Tuesday, July 1st. They issued a "buy" rating and a $15.00 price objective on the stock. Keefe, Bruyette & Woods upped their price target on shares of Porch Group from $6.00 to $7.00 and gave the company a "market perform" rating in a research note on Wednesday, May 7th. Loop Capital reaffirmed 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. Benchmark reaffirmed a "buy" rating and set a $17.00 price target (up previously from $12.00) on shares of Porch Group in a research note on Wednesday, July 30th. Finally, Oppenheimer boosted their price target on shares of Porch Group from $14.00 to $17.00 and gave the stock an "outperform" rating in a report on Wednesday. One investment analyst has rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $12.43.

Insider Activity

In other news, COO Matthew Neagle sold 250,000 shares of the stock in a transaction on Monday, May 12th. The shares were sold at an average price of $10.23, for a total value of $2,557,500.00. Following the completion of the sale, the chief operating officer directly owned 1,198,080 shares of the company's stock, valued at $12,256,358.40. This represents a 17.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Shawn Tabak sold 30,000 shares of the stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $11.23, for a total transaction of $336,900.00. Following the completion of the sale, the chief financial officer directly owned 172,671 shares of the company's stock, valued at approximately $1,939,095.33. This trade represents a 14.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 490,000 shares of company stock worth $5,222,000. Corporate insiders own 23.32% of the company's stock.

Porch Group Trading Down 4.6%

Shares of NASDAQ PRCH traded down $0.69 during midday trading on Friday, hitting $14.20. The company's stock had a trading volume of 1,872,765 shares, compared to its average volume of 2,020,851. The stock has a fifty day moving average price of $12.11 and a 200 day moving average price of $8.45. The firm has a market capitalization of $1.73 billion, a price-to-earnings ratio of 27.84 and a beta of 2.72. Porch Group, Inc. has a one year low of $1.08 and a one year high of $17.38.

Porch Group (NASDAQ:PRCH - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The company reported $0.03 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.13) by $0.16. Porch Group had a net margin of 12.82% and a negative return on equity of 41.71%. The firm had revenue of $119.30 million for the quarter, compared to analysts' expectations of $98.06 million. On average, equities research 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.