Barclays PLC Buys 108,748 Shares of Porch Group, Inc. (NASDAQ:PRCH)

Barclays PLC boosted its position in Porch Group, Inc. (NASDAQ:PRCH - Free Report) by 415.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 134,919 shares of the company's stock after acquiring an additional 108,748 shares during the period. Barclays PLC owned 0.11% of Porch Group worth $207,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Zacks Investment Management bought a new position in shares of Porch Group in the 3rd quarter valued at about $32,000. State Street Corp lifted its holdings in Porch Group by 7.4% in the third quarter. State Street Corp now owns 1,667,493 shares of the company's stock valued at $2,560,000 after buying an additional 115,176 shares during the period. Portolan Capital Management LLC bought a new position in Porch Group in the third quarter valued at approximately $613,000. Charles Schwab Investment Management Inc. grew its holdings in Porch Group by 9.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 236,351 shares of the company's stock worth $363,000 after acquiring an additional 21,171 shares during the period. Finally, Citizens Financial Group Inc. RI grew its holdings in Porch Group by 128.6% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 400,000 shares of the company's stock worth $614,000 after acquiring an additional 225,000 shares during the period. 48.48% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CFO Shawn Tabak sold 15,000 shares of Porch Group stock in a transaction on Monday, October 28th. The stock was sold at an average price of $2.00, for a total transaction of $30,000.00. Following the completion of the sale, the chief financial officer now owns 278,298 shares of the company's stock, valued at approximately $556,596. This trade represents a 5.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 23.46% of the company's stock.

Porch Group Stock Performance

Shares of PRCH stock traded down $0.17 during midday trading on Tuesday, hitting $5.07. 2,746,022 shares of the company were exchanged, compared to its average volume of 1,782,867. Porch Group, Inc. has a 52 week low of $1.05 and a 52 week high of $6.03. The firm has a market capitalization of $606.09 million, a P/E ratio of -7.24 and a beta of 2.05. The firm's 50 day moving average price is $4.13 and its two-hundred day moving average price is $2.45.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on PRCH. Loop Capital reaffirmed a "hold" rating and issued a $6.00 price target on shares of Porch Group in a research note on Monday, December 9th. Oppenheimer upped their target price on shares of Porch Group from $4.00 to $7.00 and gave the stock an "outperform" rating in a research note on Monday, December 9th. Stephens lifted their price target on shares of Porch Group from $4.00 to $5.00 and gave the company an "overweight" rating in a research note on Monday, November 11th. Benchmark restated a "buy" rating and set a $7.00 price objective on shares of Porch Group in a research note on Tuesday, October 29th. Finally, Craig Hallum boosted their price target on Porch Group from $4.00 to $8.00 and gave the stock a "buy" rating in a research report on Friday, December 6th. Two analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $5.34.

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.