Jefferies Financial Group Inc. Makes New Investment in Porch Group, Inc. (NASDAQ:PRCH)

Jefferies Financial Group Inc. bought a new stake in shares of Porch Group, Inc. (NASDAQ:PRCH - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 840,356 shares of the company's stock, valued at approximately $4,135,000. Jefferies Financial Group Inc. owned approximately 0.70% of Porch Group at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Granahan Investment Management LLC boosted its holdings in shares of Porch Group by 19.0% during the 4th quarter. Granahan Investment Management LLC now owns 11,891,581 shares of the company's stock valued at $58,507,000 after buying an additional 1,897,816 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Porch Group by 24.9% in the 4th quarter. Vanguard Group Inc. now owns 5,511,591 shares of the company's stock worth $27,117,000 after purchasing an additional 1,100,224 shares during the last quarter. Portolan Capital Management LLC raised its position in shares of Porch Group by 476.0% in the 4th quarter. Portolan Capital Management LLC now owns 2,299,635 shares of the company's stock worth $11,314,000 after purchasing an additional 1,900,416 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Porch Group by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 2,012,705 shares of the company's stock worth $9,905,000 after purchasing an additional 24,824 shares during the last quarter. Finally, Renaissance Technologies LLC raised its position in shares of Porch Group by 4.2% in the 4th quarter. Renaissance Technologies LLC now owns 1,910,102 shares of the company's stock worth $9,398,000 after purchasing an additional 76,701 shares during the last quarter. Institutional investors own 48.48% of the company's stock.

Insider Activity

In other Porch Group news, COO Matthew Neagle sold 60,000 shares of the company's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $6.24, for a total value of $374,400.00. Following the completion of the transaction, the chief operating officer now directly owns 1,384,057 shares in the company, valued at $8,636,515.68. This represents a 4.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Shawn Tabak sold 108,226 shares of the company'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 value of $654,767.30. Following the completion of the transaction, the chief financial officer now owns 179,613 shares of the company's stock, valued at $1,086,658.65. The trade was 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 quarter. 23.46% of the stock is currently owned by insiders.

Porch Group Stock Performance

Shares of NASDAQ PRCH traded up $0.76 during midday trading on Friday, hitting $10.78. 2,538,004 shares of the company's stock traded hands, compared to its average volume of 2,038,424. Porch Group, Inc. has a 1 year low of $1.05 and a 1 year high of $11.35. The stock has a market capitalization of $1.29 billion, a price-to-earnings ratio of -15.40 and a beta of 2.44. The firm has a fifty day moving average of $6.78 and a 200 day moving average of $5.37.

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

Analyst Ratings Changes

PRCH has been the subject of several recent analyst reports. Oppenheimer lifted their price target on Porch Group from $8.00 to $9.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 7th. Stephens lifted their price target on Porch Group from $8.00 to $10.00 and gave the stock an "overweight" rating in a research report on Friday, March 21st. Loop Capital reaffirmed a "buy" rating and issued a $13.00 price target (up previously from $6.00) on shares of Porch Group in a research report on Wednesday. Keefe, Bruyette & Woods lifted their price target on Porch Group from $6.00 to $7.00 and gave the stock a "market perform" rating in a research report on Wednesday, May 7th. Finally, Benchmark lifted their price target on Porch Group from $10.00 to $12.00 and gave the stock a "buy" rating in a research report on Wednesday, May 7th. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Porch Group currently has a consensus rating of "Buy" and an average price target of $8.89.

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.