The Manufacturers Life Insurance Company Acquires 26,756 Shares of Porch Group, Inc. (NASDAQ:PRCH)

The Manufacturers Life Insurance Company boosted its holdings in shares of Porch Group, Inc. (NASDAQ:PRCH - Free Report) by 101.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,127 shares of the company's stock after acquiring an additional 26,756 shares during the period. The Manufacturers Life Insurance Company's holdings in Porch Group were worth $261,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PRCH. Nisa Investment Advisors LLC grew its holdings in Porch Group by 5,776.1% during the 4th quarter. Nisa Investment Advisors LLC now owns 6,640 shares of the company's stock worth $33,000 after acquiring an additional 6,527 shares in the last quarter. Jones Financial Companies Lllp bought a new stake in shares of Porch Group in the 4th quarter valued at about $35,000. Rik Saylor Financial Inc. bought a new stake in shares of Porch Group in the 4th quarter valued at about $49,000. Raymond James Financial Inc. bought a new stake in shares of Porch Group in the 4th quarter valued at about $50,000. Finally, Tower Research Capital LLC TRC boosted 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 buying an additional 5,273 shares in the last quarter. 48.48% of the stock is currently owned by institutional investors.

Insider Activity at Porch Group

In other Porch Group news, COO Matthew Neagle sold 60,000 shares of the firm's stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $6.24, for a total transaction of $374,400.00. Following the completion of the transaction, the chief operating officer now directly owns 1,384,057 shares of the company's stock, valued at approximately $8,636,515.68. This trade represents a 4.15% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Shawn Tabak sold 108,226 shares of the firm's stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $6.05, for a total transaction of $654,767.30. Following the transaction, the chief financial officer now directly owns 179,613 shares of the company's stock, valued at $1,086,658.65. This represents a 37.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 455,554 shares of company stock valued at $3,831,090 in the last three months. 23.46% of the stock is owned by insiders.

Porch Group Stock Up 7.6%

Shares of Porch Group stock opened at $10.78 on Monday. The firm has a market capitalization of $1.29 billion, a P/E ratio of -15.40 and a beta of 2.44. The company has a 50 day moving average price of $6.78 and a 200 day moving average price of $5.37. Porch Group, Inc. has a 52 week low of $1.05 and a 52 week high of $11.35.

Porch Group (NASDAQ:PRCH - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.02 EPS for the quarter, beating the consensus estimate of ($0.07) by $0.09. The company had revenue of $104.75 million during the quarter, compared to analysts' expectations of $79.44 million. As a group, research analysts anticipate that Porch Group, Inc. will post -0.63 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Keefe, Bruyette & Woods raised their price target on shares of Porch Group from $6.00 to $7.00 and gave the company 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. Oppenheimer raised their price target on shares of Porch Group from $8.00 to $9.00 and gave the company an "outperform" rating in a report on Wednesday, May 7th. Stephens raised their price target on shares of Porch Group from $8.00 to $10.00 and gave the company an "overweight" rating in a report on Friday, March 21st. Finally, Benchmark raised their price target 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. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Porch Group currently has an average rating of "Buy" and an average price target of $8.89.

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.

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