Porch Group, Inc. (NASDAQ:PRCH) Shares Bought by State Street Corp

State Street Corp lifted its position in shares of Porch Group, Inc. (NASDAQ:PRCH - Free Report) by 7.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,667,493 shares of the company's stock after purchasing an additional 115,176 shares during the period. State Street Corp owned about 1.40% of Porch Group worth $2,560,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of PRCH. Harbor Capital Advisors Inc. lifted its holdings in Porch Group by 186.6% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 3,774,909 shares of the company's stock worth $5,794,000 after buying an additional 2,457,915 shares during the last quarter. Renaissance Technologies LLC lifted its stake in Porch Group by 53.8% during the second quarter. Renaissance Technologies LLC now owns 2,184,500 shares of the company's stock worth $3,299,000 after purchasing an additional 763,800 shares during the last quarter. Marshall Wace LLP lifted its stake in Porch Group by 11.8% during the second quarter. Marshall Wace LLP now owns 2,152,174 shares of the company's stock worth $3,250,000 after purchasing an additional 226,721 shares during the last quarter. Acadian Asset Management LLC boosted its holdings in Porch Group by 444.5% in the second quarter. Acadian Asset Management LLC now owns 1,571,003 shares of the company's stock valued at $2,369,000 after purchasing an additional 1,282,500 shares in the last quarter. Finally, GSA Capital Partners LLP increased its stake in Porch Group by 223.4% in the third quarter. GSA Capital Partners LLP now owns 1,532,616 shares of the company's stock valued at $2,353,000 after purchasing an additional 1,058,653 shares during the last quarter. Institutional investors and hedge funds own 48.48% of the company's stock.

Insider Buying and Selling

In other Porch Group news, CFO Shawn Tabak sold 21,774 shares of the business's stock in a transaction on Monday, December 16th. The shares were sold at an average price of $6.00, for a total value of $130,644.00. Following the transaction, the chief financial officer now directly owns 287,839 shares of the company's stock, valued at approximately $1,727,034. The trade was a 7.03 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 23.46% of the company's stock.

Porch Group Stock Performance

Porch Group stock traded down $0.51 during mid-day trading on Wednesday, reaching $4.92. 3,611,682 shares of the company were exchanged, compared to its average volume of 1,623,226. The firm's 50-day simple moving average is $3.84 and its two-hundred day simple moving average is $2.35. Porch Group, Inc. has a twelve month low of $1.05 and a twelve month high of $6.03. The firm has a market cap of $588.16 million, a PE ratio of -7.03 and a beta of 2.14.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Benchmark restated a "buy" rating and set a $7.00 price objective on shares of Porch Group in a research report on Tuesday, October 29th. Craig Hallum upped their price objective on shares of Porch Group from $4.00 to $8.00 and gave the company a "buy" rating in a research note on Friday, December 6th. Stephens lifted their target price on Porch Group from $4.00 to $5.00 and gave the stock an "overweight" rating in a research report on Monday, November 11th. Loop Capital reissued a "hold" rating and issued a $6.00 target price on shares of Porch Group in a research report on Monday, December 9th. Finally, Oppenheimer lifted their price target on Porch Group from $4.00 to $7.00 and gave the stock an "outperform" rating in a research report on Monday, December 9th. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $5.34.

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.