Porch Group, Inc. (NASDAQ:PRCH) Shares Acquired by Wells Fargo & Company MN

Wells Fargo & Company MN boosted its position in Porch Group, Inc. (NASDAQ:PRCH - Free Report) by 756.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 205,780 shares of the company's stock after purchasing an additional 181,766 shares during the quarter. Wells Fargo & Company MN owned about 0.17% of Porch Group worth $1,012,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in PRCH. State Street Corp grew its holdings in shares of Porch Group by 7.4% during the third quarter. State Street Corp now owns 1,667,493 shares of the company's stock worth $2,560,000 after buying an additional 115,176 shares in the last quarter. Barclays PLC grew its stake in Porch Group by 415.5% during the 3rd quarter. Barclays PLC now owns 134,919 shares of the company's stock valued at $207,000 after acquiring an additional 108,748 shares in the last quarter. Geode Capital Management LLC lifted its stake in Porch Group by 8.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,987,881 shares of the company's stock worth $3,052,000 after purchasing an additional 163,133 shares in the last quarter. Franklin Resources Inc. acquired a new position in shares of Porch Group during the 3rd quarter worth approximately $238,000. Finally, GAMMA Investing LLC purchased a new stake in shares of Porch Group in the fourth quarter valued at approximately $50,000. 48.48% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Porch Group

In related news, COO Matthew Neagle sold 27,328 shares of the business's stock in a transaction 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. The trade was a 1.97 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Shawn Tabak sold 108,226 shares of the business's stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $6.05, for a total value of $654,767.30. Following the transaction, the chief financial officer now directly owns 179,613 shares of the company's stock, valued at approximately $1,086,658.65. This represents a 37.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 205,554 shares of company stock worth $1,273,590. 23.46% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

PRCH has been the topic of a number of recent research reports. Stephens boosted their price objective on Porch Group from $8.00 to $10.00 and gave the stock an "overweight" rating in a research note on Friday, March 21st. Loop Capital raised shares of Porch Group from a "hold" rating to a "buy" rating and set a $6.00 target price on the stock in a research note on Wednesday, February 26th. Keefe, Bruyette & Woods increased their price target on shares of Porch Group from $3.50 to $6.00 and gave the company a "market perform" rating in a research note on Monday, March 3rd. Benchmark lifted their price target on shares of Porch Group from $7.00 to $10.00 and gave the company a "buy" rating in a research report on Wednesday, February 26th. Finally, Oppenheimer increased their price objective on Porch Group from $7.00 to $8.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 26th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $7.32.

Porch Group Trading Down 6.0 %

Porch Group stock traded down $0.38 during trading on Monday, hitting $6.00. The company had a trading volume of 262,859 shares, compared to its average volume of 1,875,136. The stock has a market cap of $720.38 million, a price-to-earnings ratio of -8.53 and a beta of 2.44. Porch Group, Inc. has a 1-year low of $1.05 and a 1-year high of $8.49. The company's 50 day simple moving average is $6.15 and its 200-day simple moving average is $4.81.

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.