Harbor Capital Advisors Inc. Purchases 2,457,915 Shares of Porch Group, Inc. (NASDAQ:PRCH)

Harbor Capital Advisors Inc. increased its stake in Porch Group, Inc. (NASDAQ:PRCH - Free Report) by 186.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,774,909 shares of the company's stock after acquiring an additional 2,457,915 shares during the quarter. Harbor Capital Advisors Inc. owned about 3.18% of Porch Group worth $5,794,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Mackenzie Financial Corp grew its holdings in Porch Group by 102.4% during the 2nd quarter. Mackenzie Financial Corp now owns 23,908 shares of the company's stock worth $36,000 after acquiring an additional 12,097 shares during the period. SG Americas Securities LLC acquired a new stake in Porch Group during the third quarter worth approximately $42,000. Alpine Global Management LLC bought a new stake in Porch Group in the first quarter worth approximately $43,000. Susquehanna Fundamental Investments LLC increased its holdings in Porch Group by 34.5% in the second quarter. Susquehanna Fundamental Investments LLC now owns 37,489 shares of the company's stock worth $57,000 after purchasing an additional 9,626 shares in the last quarter. Finally, Bayesian Capital Management LP acquired a new position in Porch Group in the first quarter valued at approximately $80,000. 48.48% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PRCH has been the subject of several recent analyst reports. Benchmark reaffirmed a "buy" rating and set a $7.00 price objective on shares of Porch Group in a research report on Tuesday, October 29th. Cantor Fitzgerald raised shares of Porch Group to a "strong-buy" rating in a research note on Tuesday, August 13th. Craig Hallum increased their price objective on shares of Porch Group from $3.00 to $4.00 and gave the stock a "buy" rating in a research report on Tuesday, October 29th. Northland Securities reduced their target price on Porch Group from $5.00 to $3.25 and set an "outperform" rating for the company in a research note on Wednesday, August 7th. Finally, Oppenheimer dropped their price target on Porch Group from $4.50 to $3.50 and set an "outperform" rating on the stock in a research note on Thursday, August 8th. One research analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $4.32.

Porch Group Trading Down 8.1 %

NASDAQ PRCH traded down $0.18 during trading hours on Monday, hitting $2.03. The company's stock had a trading volume of 1,405,750 shares, compared to its average volume of 1,368,696. The company has a market capitalization of $241.11 million, a PE ratio of -2.30 and a beta of 1.97. Porch Group, Inc. has a 52 week low of $0.64 and a 52 week high of $4.78. The company's 50-day simple moving average is $1.49 and its two-hundred day simple moving average is $1.90.

Porch Group (NASDAQ:PRCH - Get Free Report) last posted its earnings results on Tuesday, August 6th. The company reported ($0.65) earnings per share for the quarter, missing analysts' consensus estimates of ($0.58) by ($0.07). The firm had revenue of $110.84 million during the quarter, compared to the consensus estimate of $117.91 million. During the same quarter in the previous year, the company earned ($0.73) EPS. Research analysts anticipate that Porch Group, Inc. will post -0.76 EPS for the current fiscal year.

Insiders Place Their Bets

In other Porch Group news, CFO Shawn Tabak sold 15,000 shares of the company's stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $2.00, for a total value of $30,000.00. Following the completion of the sale, the chief financial officer now directly owns 278,298 shares of the company's stock, valued at approximately $556,596. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 23.46% of the company's stock.

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.