Invesco Ltd. Has $8.28 Million Stock Holdings in Porch Group, Inc. (NASDAQ:PRCH)

Invesco Ltd. grew its holdings in Porch Group, Inc. (NASDAQ:PRCH - Free Report) by 4,365.6% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 1,682,286 shares of the company's stock after buying an additional 1,644,614 shares during the period. Invesco Ltd. owned 1.41% of Porch Group worth $8,277,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC grew its position in Porch Group by 5,776.1% during the fourth quarter. Nisa Investment Advisors LLC now owns 6,640 shares of the company's stock worth $33,000 after buying an additional 6,527 shares during the period. Jones Financial Companies Lllp purchased a new position in Porch Group during the fourth quarter worth about $35,000. Rik Saylor Financial Inc. acquired a new stake in Porch Group during the fourth quarter worth about $49,000. GAMMA Investing LLC acquired a new stake in Porch Group during the fourth quarter worth about $50,000. Finally, Raymond James Financial Inc. acquired a new stake in shares of Porch Group in the fourth quarter valued at about $50,000. 48.48% of the stock is owned by hedge funds and other institutional investors.

Porch Group Price Performance

Shares of NASDAQ PRCH traded up $0.02 during mid-day trading on Tuesday, hitting $5.81. The company had a trading volume of 147,234 shares, compared to its average volume of 1,848,018. The firm's 50 day simple moving average is $5.99 and its two-hundred day simple moving average is $4.68. The stock has a market cap of $697.57 million, a price-to-earnings ratio of -8.25 and a beta of 2.15. Porch Group, Inc. has a 12 month low of $1.05 and a 12 month high of $8.49.

Insider Activity

In other news, CFO Shawn Tabak sold 10,000 shares of the firm's stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $5.34, for a total transaction of $53,400.00. Following the completion of the transaction, the chief financial officer now owns 218,580 shares in the company, valued at approximately $1,167,217.20. This trade represents a 4.37 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Matthew Neagle sold 60,000 shares of the firm's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $6.24, for a total transaction of $374,400.00. Following 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 trade represents a 4.15 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 205,554 shares of company stock worth $1,273,590. Corporate insiders own 23.46% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Loop Capital upgraded Porch Group from a "hold" rating to a "buy" rating and set a $6.00 target price for the company in a research note on Wednesday, February 26th. Oppenheimer raised their price objective on Porch Group from $7.00 to $8.00 and gave the company an "outperform" rating in a research note on Wednesday, February 26th. Benchmark raised their price objective on Porch Group from $7.00 to $10.00 and gave the company a "buy" rating in a research note on Wednesday, February 26th. Stephens increased their target price on Porch Group from $8.00 to $10.00 and gave the stock an "overweight" rating in a report on Friday, March 21st. Finally, Keefe, Bruyette & Woods increased their target price on Porch Group from $3.50 to $6.00 and gave the stock a "market perform" rating in a report on Monday, March 3rd. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $7.32.

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.