Porch Group, Inc. (NASDAQ:PRCH) Shares Bought by Citizens Financial Group Inc. RI

Citizens Financial Group Inc. RI raised its holdings in Porch Group, Inc. (NASDAQ:PRCH - Free Report) by 128.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 400,000 shares of the company's stock after purchasing an additional 225,000 shares during the quarter. Citizens Financial Group Inc. RI owned 0.34% of Porch Group worth $614,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PRCH. Alpine Global Management LLC purchased a new position in shares of Porch Group in the 1st quarter valued at about $43,000. Bayesian Capital Management LP purchased a new position in Porch Group in the first quarter valued at about $80,000. Caprock Group LLC acquired a new stake in shares of Porch Group during the 3rd quarter valued at approximately $37,000. Mackenzie Financial Corp boosted its stake in shares of 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 in the last quarter. Finally, SG Americas Securities LLC acquired a new stake in shares of Porch Group in the 3rd quarter worth approximately $42,000. Institutional investors and hedge funds own 48.48% of the company's stock.

Porch Group Price Performance

NASDAQ:PRCH traded down $0.11 on Friday, reaching $3.45. The stock had a trading volume of 3,082,349 shares, compared to its average volume of 4,104,072. The company has a market cap of $412.41 million, a price-to-earnings ratio of -4.93 and a beta of 1.98. Porch Group, Inc. has a 12-month low of $1.05 and a 12-month high of $4.78. The firm's fifty day moving average is $1.98 and its two-hundred day moving average is $1.86.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Benchmark reaffirmed a "buy" rating and set a $7.00 price objective on shares of Porch Group in a report on Tuesday, October 29th. Craig Hallum lifted their price target on Porch Group from $3.00 to $4.00 and gave the stock a "buy" rating in a research note on Tuesday, October 29th. Cantor Fitzgerald raised shares of Porch Group to a "strong-buy" rating in a research note on Tuesday, August 13th. Oppenheimer cut their target price 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. Finally, Stephens upped their price target on shares of Porch Group from $4.00 to $5.00 and gave the company an "overweight" rating in a report on Monday, November 11th. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $4.18.

Insider Buying and Selling

In related news, CFO Shawn Tabak sold 15,000 shares of the company's stock in a transaction on Monday, October 28th. The stock was sold at an average price of $2.00, for a total value of $30,000.00. Following the completion of the transaction, the chief financial officer now directly owns 278,298 shares in the company, valued at approximately $556,596. This represents a 5.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 23.46% of the stock is owned by company insiders.

Porch Group 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.