Progeny 3 Inc. bought a new stake in Porch Group, Inc. (NASDAQ:PRCH - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 68,830 shares of the company's stock, valued at approximately $339,000. Progeny 3 Inc. owned 0.06% of Porch Group as of its most recent SEC filing.
A number of other hedge funds 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 4th quarter. Nisa Investment Advisors LLC now owns 6,640 shares of the company's stock worth $33,000 after purchasing an additional 6,527 shares during the last quarter. Jones Financial Companies Lllp acquired a new stake in shares of Porch Group during the fourth quarter worth about $35,000. Rik Saylor Financial Inc. purchased a new position in shares of Porch Group during the fourth quarter worth about $49,000. Raymond James Financial Inc. acquired a new position in Porch Group in the 4th quarter valued at about $50,000. Finally, Ameriprise Financial Inc. purchased a new stake in Porch Group during the 4th quarter valued at approximately $51,000. Hedge funds and other institutional investors own 48.48% of the company's stock.
Porch Group Price Performance
Porch Group stock traded down $0.47 during trading hours on Tuesday, hitting $10.16. The stock had a trading volume of 4,684,878 shares, compared to its average volume of 2,048,376. Porch Group, Inc. has a 1-year low of $1.05 and a 1-year high of $12.12. The stock has a market capitalization of $1.22 billion, a price-to-earnings ratio of -14.54 and a beta of 2.44. The stock's fifty day moving average is $6.87 and its two-hundred day moving average is $5.43.
Porch Group (NASDAQ:PRCH - Get Free Report) last announced 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 business had revenue of $104.75 million for the quarter, compared to analyst estimates of $79.44 million. As a group, sell-side analysts anticipate that Porch Group, Inc. will post -0.63 EPS for the current year.
Wall Street Analyst Weigh In
PRCH has been the subject of several recent research reports. Stephens increased their price target on Porch Group from $8.00 to $10.00 and gave the stock an "overweight" rating in a report on Friday, March 21st. Benchmark lifted their target price 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. Keefe, Bruyette & Woods increased their price target on shares of Porch Group from $6.00 to $7.00 and gave the stock a "market perform" rating in a report on Wednesday, May 7th. Loop Capital reaffirmed a "buy" rating and issued a $13.00 price objective (up previously from $6.00) on shares of Porch Group in a report on Wednesday, May 14th. Finally, Oppenheimer lifted their price target on Porch Group from $8.00 to $9.00 and gave the company an "outperform" rating in a research note on Wednesday, May 7th. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of $8.89.
Read Our Latest Analysis on Porch Group
Insider Activity at Porch Group
In related news, CFO Shawn Tabak sold 10,000 shares of the business's stock in a transaction dated 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 approximately $1,167,217.20. The trade was a 4.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Matthew Neagle sold 250,000 shares of the firm's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $10.23, for a total transaction of $2,557,500.00. Following the sale, the chief operating officer now directly owns 1,198,080 shares in the company, valued at $12,256,358.40. This represents a 17.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 455,554 shares of company stock valued at $3,831,090. 23.46% of the stock is owned by corporate insiders.
Porch Group Profile
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Free Report)
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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