MetLife Investment Management LLC Invests $245,000 in Porch Group, Inc. (NASDAQ:PRCH)

MetLife Investment Management LLC acquired a new position in shares of Porch Group, Inc. (NASDAQ:PRCH - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 49,766 shares of the company's stock, valued at approximately $245,000.

Several other large investors also recently added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership acquired a new position in shares of Porch Group during the 4th quarter valued at about $176,000. Barclays PLC raised its position in shares of Porch Group by 415.5% in the third quarter. Barclays PLC now owns 134,919 shares of the company's stock valued at $207,000 after purchasing an additional 108,748 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Porch Group by 225.1% in the fourth quarter. JPMorgan Chase & Co. now owns 730,340 shares of the company's stock worth $3,593,000 after buying an additional 505,660 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Porch Group by 24.9% during the 4th quarter. Vanguard Group Inc. now owns 5,511,591 shares of the company's stock worth $27,117,000 after buying an additional 1,100,224 shares during the period. Finally, D.A. Davidson & CO. acquired a new position in Porch Group in the 4th quarter valued at $810,000. 48.48% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Keefe, Bruyette & Woods boosted their price objective on Porch Group from $6.00 to $7.00 and gave the stock a "market perform" rating in a research report on Wednesday. Loop Capital upgraded Porch Group from a "hold" rating to a "buy" rating and set a $6.00 price target for the company in a report on Wednesday, February 26th. Oppenheimer boosted their target price on shares of Porch Group from $8.00 to $9.00 and gave the stock an "outperform" rating in a research report on Wednesday. Benchmark raised their price target on shares of Porch Group from $10.00 to $12.00 and gave the stock a "buy" rating in a research report on Wednesday. Finally, Stephens upped their price objective on shares of Porch Group from $8.00 to $10.00 and gave the company an "overweight" rating in a research report on Friday, March 21st. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $7.89.

Insiders Place Their Bets

In other news, COO Matthew Neagle sold 60,000 shares of the stock in a transaction 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 sale, the chief operating officer now owns 1,384,057 shares of the company's stock, valued at $8,636,515.68. This represents a 4.15 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Shawn Tabak sold 10,000 shares of the business's stock in a transaction on 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 sale, the chief financial officer now directly owns 218,580 shares in the company, valued at $1,167,217.20. This represents a 4.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 205,554 shares of company stock worth $1,273,590 over the last ninety days. 23.46% of the stock is currently owned by corporate insiders.

Porch Group Stock Down 5.4 %

PRCH stock traded down $0.59 during midday trading on Friday, reaching $10.29. The company's stock had a trading volume of 2,367,546 shares, compared to its average volume of 2,013,601. The business's 50-day simple moving average is $6.36 and its 200-day simple moving average is $5.05. The stock has a market cap of $1.24 billion, a PE ratio of -14.70 and a beta of 2.44. 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 issued its earnings results on Tuesday, May 6th. The company reported $0.02 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.07) by $0.09. The company had revenue of $104.75 million for the quarter, compared to the consensus estimate of $79.44 million. As a group, equities analysts forecast that Porch Group, Inc. will post -0.63 earnings per share for the current fiscal year.

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.