Porch Group, Inc. (NASDAQ:PRCH) Stake Increased by Renaissance Technologies LLC

Renaissance Technologies LLC grew its position in shares of Porch Group, Inc. (NASDAQ:PRCH - Free Report) by 53.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,184,500 shares of the company's stock after acquiring an additional 763,800 shares during the quarter. Renaissance Technologies LLC owned about 2.20% of Porch Group worth $3,299,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of PRCH. Alpine Global Management LLC purchased a new position in shares of Porch Group in the 1st quarter valued at $43,000. Bayesian Capital Management LP purchased a new position in Porch Group in the first quarter valued at about $80,000. Rhumbline Advisers acquired a new position in shares of Porch Group during the second quarter worth about $99,000. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Porch Group in the first quarter worth about $120,000. Finally, Quadrature Capital Ltd acquired a new stake in shares of Porch Group in the fourth quarter valued at about $189,000. 48.48% of the stock is currently owned by hedge funds and other institutional investors.

Porch Group Stock Down 7.7 %

PRCH stock traded down $0.13 during trading on Monday, hitting $1.55. 600,086 shares of the company's stock traded hands, compared to its average volume of 1,316,486. The stock has a fifty day moving average price of $1.49 and a two-hundred day moving average price of $2.31. Porch Group, Inc. has a 52 week low of $0.50 and a 52 week high of $4.78. The stock has a market capitalization of $153.74 million, a price-to-earnings ratio of -1.33 and a beta of 2.04.

Porch Group (NASDAQ:PRCH - Get Free Report) last issued its quarterly earnings data on Tuesday, August 6th. The company reported ($0.65) EPS for the quarter, missing analysts' consensus estimates of ($0.58) by ($0.07). The company had revenue of $110.84 million during the quarter, compared to analysts' expectations of $117.91 million. During the same period in the prior year, the firm posted ($0.73) EPS. As a group, equities research analysts expect that Porch Group, Inc. will post -0.76 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Benchmark dropped their price objective on shares of Porch Group from $10.00 to $7.00 and set a "buy" rating on the stock in a research note on Wednesday, August 7th. Cantor Fitzgerald raised shares of Porch Group to a "strong-buy" rating in a research note on Tuesday, August 13th. Oppenheimer decreased their price objective on shares of Porch Group from $4.50 to $3.50 and set an "outperform" rating for the company in a research report on Thursday, August 8th. Keefe, Bruyette & Woods dropped their target price on Porch Group from $3.75 to $1.50 and set a "market perform" rating on the stock in a research report on Thursday, August 8th. Finally, Craig Hallum cut their price target on Porch Group from $5.00 to $3.00 and set a "buy" rating on the stock in a research note on Wednesday, August 7th. One investment analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Porch Group has an average rating of "Buy" and a consensus target price of $4.18.

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.