Geode Capital Management LLC boosted its position in Porch Group, Inc. (NASDAQ:PRCH - Free Report) by 8.9% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,987,881 shares of the company's stock after purchasing an additional 163,133 shares during the quarter. Geode Capital Management LLC owned about 1.67% of Porch Group worth $3,052,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Harbor Capital Advisors Inc. increased its stake in Porch Group by 186.6% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 3,774,909 shares of the company's stock valued at $5,794,000 after buying an additional 2,457,915 shares during the period. Renaissance Technologies LLC raised its holdings in Porch Group by 53.8% during the second quarter. Renaissance Technologies LLC now owns 2,184,500 shares of the company's stock worth $3,299,000 after purchasing an additional 763,800 shares in the last quarter. GSA Capital Partners LLP lifted its position in Porch Group by 223.4% in the third quarter. GSA Capital Partners LLP now owns 1,532,616 shares of the company's stock worth $2,353,000 after purchasing an additional 1,058,653 shares during the period. Citizens Financial Group Inc. RI boosted its stake 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 valued at $614,000 after purchasing an additional 225,000 shares in the last quarter. Finally, State Street Corp increased its position in shares of Porch Group by 7.4% during the 3rd quarter. State Street Corp now owns 1,667,493 shares of the company's stock valued at $2,560,000 after purchasing an additional 115,176 shares during the period. 48.48% of the stock is owned by institutional investors and hedge funds.
Insider Activity at Porch Group
In other news, CFO Shawn Tabak sold 21,774 shares of the company's stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $6.00, for a total transaction of $130,644.00. Following the completion of the sale, the chief financial officer now owns 287,839 shares in the company, valued at approximately $1,727,034. This represents a 7.03 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 23.46% of the company's stock.
Porch Group Price Performance
Porch Group stock traded down $0.17 during trading hours on Tuesday, hitting $5.07. The company had a trading volume of 2,746,022 shares, compared to its average volume of 1,782,867. The firm's fifty day moving average is $4.18 and its 200-day moving average is $2.47. The firm has a market capitalization of $606.09 million, a P/E ratio of -7.24 and a beta of 2.05. Porch Group, Inc. has a fifty-two week low of $1.05 and a fifty-two week high of $6.03.
Analyst Ratings Changes
Several brokerages recently weighed in on PRCH. Craig Hallum raised their target price on Porch Group from $4.00 to $8.00 and gave the company a "buy" rating in a research note on Friday, December 6th. Loop Capital reaffirmed a "hold" rating and issued a $6.00 price objective on shares of Porch Group in a research note on Monday, December 9th. Benchmark reissued a "buy" rating and set a $7.00 target price on shares of Porch Group in a research note on Tuesday, October 29th. Oppenheimer lifted their price target on shares of Porch Group from $4.00 to $7.00 and gave the stock an "outperform" rating in a research report on Monday, December 9th. Finally, Stephens increased their price objective on Porch Group from $4.00 to $5.00 and gave the company an "overweight" rating in a research report on Monday, November 11th. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Porch Group presently has a consensus rating of "Moderate Buy" and an average target price of $5.34.
Get Our Latest Analysis on Porch Group
Porch Group Company Profile
(
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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