Citizens Financial Group Inc. RI Sells 100,000 Shares of Porch Group, Inc. (NASDAQ:PRCH)

Citizens Financial Group Inc. RI lessened its holdings in shares of Porch Group, Inc. (NASDAQ:PRCH - Free Report) by 25.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 300,000 shares of the company's stock after selling 100,000 shares during the period. Citizens Financial Group Inc. RI owned 0.25% of Porch Group worth $1,476,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of PRCH. Nisa Investment Advisors LLC grew its holdings in Porch Group by 5,776.1% in 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 in the last quarter. Jones Financial Companies Lllp acquired a new position in Porch Group during the 4th quarter worth $35,000. Rik Saylor Financial Inc. bought a new position in shares of Porch Group in the fourth quarter worth $49,000. Raymond James Financial Inc. acquired a new position in shares of Porch Group during the fourth quarter valued at $50,000. Finally, GAMMA Investing LLC bought a new stake in shares of Porch Group during the 4th quarter worth about $50,000. Institutional investors own 48.48% of the company's stock.

Analyst Ratings Changes

PRCH has been the subject of several recent analyst reports. Loop Capital upgraded shares of Porch Group from a "hold" rating to a "buy" rating and set a $6.00 price objective for the company in a report on Wednesday, February 26th. Benchmark increased their price target on Porch Group from $7.00 to $10.00 and gave the company a "buy" rating in a research note on Wednesday, February 26th. Keefe, Bruyette & Woods lifted 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. Oppenheimer upped their price objective on Porch Group from $7.00 to $8.00 and gave the company an "outperform" rating in a report on Wednesday, February 26th. Finally, Craig Hallum lifted their target price on Porch Group from $4.00 to $8.00 and gave the stock a "buy" rating in a report on Friday, December 6th. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $6.41.

Remove Ads

Insider Buying and Selling

In other Porch Group news, CFO Shawn Tabak sold 108,226 shares of the business's stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $6.05, for a total transaction of $654,767.30. Following the sale, the chief financial officer now directly owns 179,613 shares of the company's stock, valued at $1,086,658.65. The trade was a 37.60 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 23.46% of the company's stock.

Porch Group Trading Up 6.2 %

PRCH stock traded up $0.35 during mid-day trading on Friday, reaching $5.93. 1,505,101 shares of the stock traded hands, compared to its average volume of 2,153,183. The stock's fifty day moving average is $5.03 and its 200-day moving average is $3.55. The company has a market cap of $711.50 million, a P/E ratio of -8.44 and a beta of 2.04. Porch Group, Inc. has a 52-week low of $1.05 and a 52-week high of $7.30.

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.