Two Sigma Advisers LP Acquires 37,800 Shares of Porch Group, Inc. (NASDAQ:PRCH)

Two Sigma Advisers LP increased its stake in Porch Group, Inc. (NASDAQ:PRCH - Free Report) by 44.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 123,600 shares of the company's stock after purchasing an additional 37,800 shares during the quarter. Two Sigma Advisers LP owned approximately 0.10% of Porch Group worth $608,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Arrowstreet Capital Limited Partnership bought a new stake in Porch Group during the fourth quarter valued at about $176,000. JPMorgan Chase & Co. raised its holdings in Porch Group by 225.1% during the fourth quarter. JPMorgan Chase & Co. now owns 730,340 shares of the company's stock valued at $3,593,000 after acquiring an additional 505,660 shares during the period. Vanguard Group Inc. raised its holdings in Porch Group by 24.9% during the fourth quarter. Vanguard Group Inc. now owns 5,511,591 shares of the company's stock valued at $27,117,000 after acquiring an additional 1,100,224 shares during the period. Tower Research Capital LLC TRC raised its holdings in Porch Group by 91.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 11,017 shares of the company's stock valued at $54,000 after acquiring an additional 5,273 shares during the period. Finally, MetLife Investment Management LLC bought a new stake in Porch Group during the fourth quarter valued at about $245,000. 48.48% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

PRCH has been the topic of a number of recent analyst reports. Oppenheimer raised their price target on Porch Group from $8.00 to $9.00 and gave the company an "outperform" rating in a report on Wednesday, May 7th. Loop Capital reissued a "buy" rating and set a $13.00 price target (up from $6.00) on shares of Porch Group in a report on Wednesday, May 14th. Benchmark raised their price target on Porch Group from $10.00 to $12.00 and gave the company a "buy" rating in a report on Wednesday, May 7th. Stephens raised their price objective on Porch Group from $8.00 to $10.00 and gave the company an "overweight" rating in a research report on Friday, March 21st. Finally, Keefe, Bruyette & Woods raised their price objective on Porch Group from $6.00 to $7.00 and gave the company a "market perform" rating in a research report on Wednesday, May 7th. One equities research 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 stock. According to MarketBeat, the company has an average rating of "Buy" and an average price target of $8.89.

Insider Activity at Porch Group

In related news, CFO Shawn Tabak sold 10,000 shares of the business's stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $5.34, for a total value of $53,400.00. Following the completion of the transaction, the chief financial officer now owns 218,580 shares of the company's stock, valued at $1,167,217.20. The trade was a 4.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Matthew Neagle sold 27,328 shares of the business's stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $6.99, for a total transaction of $191,022.72. Following the completion of the transaction, the chief operating officer now directly owns 1,356,729 shares of the company's stock, valued at $9,483,535.71. This trade represents a 1.97% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 467,328 shares of company stock worth $4,404,523. Company insiders own 23.32% of the company's stock.

Porch Group Stock Down 3.1%

PRCH traded down $0.30 on Thursday, hitting $9.33. The company had a trading volume of 1,763,876 shares, compared to its average volume of 2,121,081. The company has a market cap of $1.13 billion, a PE ratio of -13.33 and a beta of 2.63. The business's fifty day simple moving average is $7.59 and its 200 day simple moving average is $5.97. Porch Group, Inc. has a 12-month low of $1.05 and a 12-month high of $12.20.

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