Portolan Capital Management LLC Has $11.31 Million Stake in Porch Group, Inc. (NASDAQ:PRCH)

Portolan Capital Management LLC boosted its stake in shares of Porch Group, Inc. (NASDAQ:PRCH - Free Report) by 476.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,299,635 shares of the company's stock after purchasing an additional 1,900,416 shares during the period. Portolan Capital Management LLC owned approximately 1.92% of Porch Group worth $11,314,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Arrowstreet Capital Limited Partnership purchased a new stake in Porch Group during the 4th quarter worth $176,000. Franklin Resources Inc. acquired a new position in shares of Porch Group during the third quarter worth $238,000. Barclays PLC lifted its position in shares of Porch Group by 415.5% during the third quarter. Barclays PLC now owns 134,919 shares of the company's stock worth $207,000 after purchasing an additional 108,748 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Porch Group by 8.9% in the third quarter. Geode Capital Management LLC now owns 1,987,881 shares of the company's stock valued at $3,052,000 after purchasing an additional 163,133 shares during the period. Finally, State Street Corp grew its holdings in Porch Group by 7.4% during the 3rd quarter. State Street Corp now owns 1,667,493 shares of the company's stock valued at $2,560,000 after purchasing an additional 115,176 shares in the last quarter. Institutional investors and hedge funds own 48.48% of the company's stock.

Insider Buying and Selling

In related news, COO Matthew Neagle sold 27,328 shares of the business's stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $6.99, for a total value of $191,022.72. Following the sale, the chief operating officer now directly owns 1,356,729 shares in the company, valued at $9,483,535.71. The trade was a 1.97 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Shawn Tabak sold 108,226 shares of Porch Group stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $6.05, for a total transaction of $654,767.30. Following the completion of the transaction, the chief financial officer now owns 179,613 shares in the company, valued at approximately $1,086,658.65. This trade represents a 37.60 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 205,554 shares of company stock valued at $1,273,590 in the last three months. 23.46% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Keefe, Bruyette & Woods boosted their price target on Porch Group from $3.50 to $6.00 and gave the stock a "market perform" rating in a research note on Monday, March 3rd. Stephens lifted their price objective 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 research note on Wednesday, February 26th. Oppenheimer raised their price target on shares of Porch Group from $7.00 to $8.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 26th. Finally, Loop Capital raised shares of Porch Group from a "hold" rating to a "buy" rating and set a $6.00 price target on the stock in a report on Wednesday, February 26th. One research 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 company. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $7.32.

Porch Group Stock Up 4.3 %

NASDAQ PRCH traded up $0.22 on Friday, hitting $5.29. The stock had a trading volume of 1,576,736 shares, compared to its average volume of 1,829,351. The company's 50-day moving average is $5.95 and its two-hundred day moving average is $4.48. Porch Group, Inc. has a one year low of $1.05 and a one year high of $8.49. The stock has a market cap of $635.14 million, a price-to-earnings ratio of -7.56 and a beta of 2.15.

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.