Porch Group, Inc. (NASDAQ:PRCH) Shares Bought by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. lifted its position in shares of Porch Group, Inc. (NASDAQ:PRCH) by 9.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 236,351 shares of the company’s stock after acquiring an additional 21,171 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.20% of Porch Group worth $363,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of PRCH. Caprock Group LLC purchased a new position in Porch Group in the 3rd quarter valued at about $37,000. Mackenzie Financial Corp grew its stake in shares of Porch Group by 102.4% in the 2nd quarter. Mackenzie Financial Corp now owns 23,908 shares of the company’s stock valued at $36,000 after buying an additional 12,097 shares during the period. SG Americas Securities LLC purchased a new position in Porch Group in the third quarter worth approximately $42,000. Los Angeles Capital Management LLC purchased a new position in shares of Porch Group during the 3rd quarter worth $46,000. Finally, Susquehanna Fundamental Investments LLC boosted its stake in Porch Group by 34.5% during the second quarter. Susquehanna Fundamental Investments LLC now owns 37,489 shares of the company’s stock worth $57,000 after buying an additional 9,626 shares during the period. Hedge funds and other institutional investors own 48.48% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Shawn Tabak sold 21,774 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $6.00, for a total value of $130,644.00. Following the transaction, the chief financial officer now owns 287,839 shares in the company, valued at $1,727,034. The trade was a 7.03 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 23.46% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

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

Porch Group Trading Down 6.0 %

Shares of PRCH opened at $4.57 on Friday. The company’s 50 day simple moving average is $3.22 and its 200-day simple moving average is $2.15. The firm has a market cap of $546.32 million, a PE ratio of -6.53 and a beta of 2.14. Porch Group, Inc. has a 12-month low of $1.05 and a 12-month high of $6.03.

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.