Russell Investments Group Ltd. Has $3.29 Million Stock Holdings in Porch Group, Inc. $PRCH

Key Points

• Russell Investments Group Ltd. significantly increased its stake in Porch Group, Inc. by 32,198.9%, owning 450,893 shares worth approximately $3.29 million.
• Insider trading activity included COO Matthew Neagle selling 60,000 shares for $596,400, followed by a 5.27% decrease in his holdings.
• Analysts have raised price targets for Porch Group, with Benchmark setting a new target of $17.00 while maintaining a "buy" rating.

Russell Investments Group Ltd. increased its holdings in shares of Porch Group, Inc. (NASDAQ:PRCH - Free Report) by 32,198.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 450,893 shares of the company's stock after buying an additional 449,497 shares during the quarter. Russell Investments Group Ltd. owned 0.38% of Porch Group worth $3,287,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PRCH. GAMMA Investing LLC raised its position in shares of Porch Group by 23.7% during the first quarter. GAMMA Investing LLC now owns 12,522 shares of the company's stock worth $91,000 after purchasing an additional 2,397 shares during the period. Deutsche Bank AG lifted its stake in Porch Group by 5.6% in the first quarter. Deutsche Bank AG now owns 53,845 shares of the company's stock valued at $393,000 after buying an additional 2,872 shares in the last quarter. FNY Investment Advisers LLC acquired a new position in shares of Porch Group in the first quarter valued at approximately $29,000. CWM LLC increased its position in shares of Porch Group by 112.2% during the first quarter. CWM LLC now owns 8,732 shares of the company's stock worth $64,000 after acquiring an additional 4,617 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its holdings 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 worth $54,000 after acquiring an additional 5,273 shares during the period. 48.48% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, COO Matthew Neagle sold 60,000 shares of the company's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $9.94, for a total value of $596,400.00. Following the sale, the chief operating officer directly owned 1,078,080 shares of the company's stock, valued at approximately $10,716,115.20. This represents a 5.27% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Alan R. Pickerill sold 40,000 shares of Porch Group stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $11.26, for a total value of $450,400.00. Following the transaction, the director owned 182,416 shares of the company's stock, valued at $2,054,004.16. The trade was a 17.98% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 180,000 shares of company stock worth $2,032,700. 23.32% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Benchmark reiterated a "buy" rating and set a $17.00 target price (up previously from $12.00) on shares of Porch Group in a report on Wednesday, July 30th. Oppenheimer increased their price objective on Porch Group from $14.00 to $17.00 and gave the stock an "outperform" rating in a report on Wednesday, August 6th. Keefe, Bruyette & Woods boosted their target price on Porch Group from $7.00 to $16.00 and gave the company a "market perform" rating in a research note on Wednesday, August 13th. Zacks Research downgraded Porch Group from a "strong-buy" rating to a "hold" rating in a research report on Thursday. Finally, Loop Capital reiterated a "buy" rating and issued a $13.00 price objective (up from $6.00) on shares of Porch Group in a report on Wednesday, May 14th. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $13.71.

Porch Group Stock Performance

Shares of NASDAQ PRCH opened at $16.63 on Friday. The stock has a 50 day moving average price of $13.14 and a 200 day moving average price of $9.23. The stock has a market capitalization of $2.04 billion, a PE ratio of 32.61 and a beta of 2.72. Porch Group, Inc. has a 52 week low of $1.15 and a 52 week high of $17.38.

Porch Group (NASDAQ:PRCH - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The company reported $0.03 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.13) by $0.16. Porch Group had a negative return on equity of 41.71% and a net margin of 12.82%.The company had revenue of $119.30 million for the quarter, compared to analysts' expectations of $98.06 million. Porch Group has set its FY 2025 guidance at EPS. As a group, research analysts forecast that Porch Group, Inc. will post -0.63 EPS for the current year.

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.

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