Invesco Ltd. grew its position in Porch Group, Inc. (NASDAQ:PRCH - Free Report) by 4,365.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,682,286 shares of the company's stock after acquiring an additional 1,644,614 shares during the period. Invesco Ltd. owned about 1.41% of Porch Group worth $8,277,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Nisa Investment Advisors LLC raised its stake in shares of 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 buying an additional 6,527 shares during the last quarter. Jones Financial Companies Lllp purchased a new position in shares of Porch Group in the 4th quarter valued at $35,000. Rik Saylor Financial Inc. acquired a new position in Porch Group during the 4th quarter worth approximately $49,000. GAMMA Investing LLC purchased a new position in Porch Group in the 4th quarter valued at about $50,000. Finally, Raymond James Financial Inc. acquired a new stake in shares of Porch Group during the fourth quarter worth approximately $50,000. Institutional investors and hedge funds own 48.48% of the company's stock.
Analyst Ratings Changes
Several equities research analysts recently issued reports on the company. Keefe, Bruyette & Woods upped their price target on Porch Group from $3.50 to $6.00 and gave the company a "market perform" rating in a research report on Monday, March 3rd. Stephens lifted their target price on Porch Group from $8.00 to $10.00 and gave the stock an "overweight" rating in a report on Friday, March 21st. Benchmark increased their target price on Porch Group from $7.00 to $10.00 and gave the company a "buy" rating in a report on Wednesday, February 26th. Loop Capital upgraded shares of Porch Group from a "hold" rating to a "buy" rating and set a $6.00 target price for the company in a research report on Wednesday, February 26th. Finally, Oppenheimer lifted their target price on shares of Porch Group from $7.00 to $8.00 and gave the company an "outperform" rating in a research note on Wednesday, February 26th. One 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.com, the stock has an average rating of "Buy" and a consensus target price of $7.32.
Check Out Our Latest Research Report on Porch Group
Porch Group Stock Up 7.7 %
PRCH stock traded up $0.42 during midday trading on Friday, hitting $5.91. 2,021,196 shares of the company traded hands, compared to its average volume of 1,855,554. The stock has a market capitalization of $709.58 million, a price-to-earnings ratio of -8.44 and a beta of 2.15. Porch Group, Inc. has a twelve month low of $1.05 and a twelve month high of $8.49. The business has a 50 day simple moving average of $5.98 and a 200-day simple moving average of $4.63.
Insider Activity
In other Porch Group news, CFO Shawn Tabak sold 10,000 shares of the company's stock in a transaction that occurred on Tuesday, April 15th. The stock was 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 $1,167,217.20. This represents a 4.37 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Matthew Neagle sold 60,000 shares of Porch Group stock in a transaction on Monday, March 17th. The stock was sold at an average price of $6.24, for a total transaction of $374,400.00. Following the sale, the chief operating officer now owns 1,384,057 shares in the company, valued at $8,636,515.68. This represents a 4.15 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 205,554 shares of company stock valued at $1,273,590. 23.46% of the stock is owned by insiders.
About Porch Group
(
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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