Price T Rowe Associates Inc. MD Has $151,000 Holdings in Porch Group, Inc. (NASDAQ:PRCH)

Price T Rowe Associates Inc. MD grew its stake in Porch Group, Inc. (NASDAQ:PRCH) by 22.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 30,524 shares of the company’s stock after buying an additional 5,557 shares during the quarter. Price T Rowe Associates Inc. MD’s holdings in Porch Group were worth $151,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Tower Research Capital LLC TRC boosted its holdings in shares of Porch Group by 91.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 11,017 shares of the company’s stock valued at $54,000 after buying an additional 5,273 shares during the period. MetLife Investment Management LLC bought a new stake in shares of Porch Group in the fourth quarter worth $245,000. EAM Investors LLC bought a new stake in shares of Porch Group in the fourth quarter worth $961,000. Portolan Capital Management LLC lifted its position in shares of Porch Group by 476.0% in the fourth quarter. Portolan Capital Management LLC now owns 2,299,635 shares of the company’s stock worth $11,314,000 after purchasing an additional 1,900,416 shares in the last quarter. Finally, Walleye Capital LLC bought a new stake in shares of Porch Group in the fourth quarter worth $132,000. Institutional investors and hedge funds own 48.48% of the company’s stock.

Porch Group Trading Up 7.6%

NASDAQ PRCH opened at $10.78 on Friday. The firm’s fifty day moving average price is $6.78 and its two-hundred day moving average price is $5.35. Porch Group, Inc. has a 1 year low of $1.05 and a 1 year high of $11.35. The firm has a market capitalization of $1.29 billion, a P/E ratio of -15.40 and a beta of 2.44.

Porch Group (NASDAQ:PRCH) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.09. The firm had revenue of $104.75 million for the quarter, compared to the consensus estimate of $79.44 million. On average, research analysts anticipate that Porch Group, Inc. will post -0.63 EPS for the current fiscal year.

Insider Activity at Porch Group

In related news, COO Matthew Neagle sold 250,000 shares of the company’s stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $10.23, for a total value of $2,557,500.00. Following the transaction, the chief operating officer now directly owns 1,198,080 shares in the company, valued at approximately $12,256,358.40. This represents a 17.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Shawn Tabak sold 108,226 shares of the company’s stock in a transaction dated Wednesday, February 26th. The shares were 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 $1,086,658.65. This trade represents a 37.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 455,554 shares of company stock worth $3,831,090. Corporate insiders own 23.46% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on PRCH shares. Stephens boosted their price objective on shares of Porch Group from $8.00 to $10.00 and gave the stock an “overweight” rating in a research report on Friday, March 21st. Loop Capital reissued a “buy” rating and issued a $13.00 price objective (up previously from $6.00) on shares of Porch Group in a research report on Wednesday. Benchmark boosted their price objective on shares of Porch Group from $10.00 to $12.00 and gave the stock a “buy” rating in a research report on Wednesday, May 7th. Keefe, Bruyette & Woods boosted their price objective on shares of Porch Group from $6.00 to $7.00 and gave the stock a “market perform” rating in a research report on Wednesday, May 7th. Finally, Oppenheimer boosted their price objective on shares of Porch Group from $8.00 to $9.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 7th. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $8.89.

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.