Jane Street Group LLC Has $1.52 Million Stake in Porch Group, Inc. (NASDAQ:PRCH)

Jane Street Group LLC raised its stake in Porch Group, Inc. (NASDAQ:PRCH) by 777.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 309,475 shares of the company’s stock after buying an additional 274,209 shares during the quarter. Jane Street Group LLC owned 0.26% of Porch Group worth $1,523,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in PRCH. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Porch Group during the fourth quarter worth about $176,000. Barclays PLC grew its holdings 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 buying an additional 108,748 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Porch Group by 225.1% during the fourth quarter. JPMorgan Chase & Co. now owns 730,340 shares of the company’s stock worth $3,593,000 after buying an additional 505,660 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Porch Group by 24.9% during the fourth quarter. Vanguard Group Inc. now owns 5,511,591 shares of the company’s stock worth $27,117,000 after buying an additional 1,100,224 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its holdings in shares of Porch Group by 91.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 11,017 shares of the company’s stock worth $54,000 after buying an additional 5,273 shares in the last quarter. Institutional investors and hedge funds own 48.48% of the company’s stock.

Porch Group Price Performance

NASDAQ:PRCH opened at $10.78 on Monday. The business has a 50 day moving average of $6.78 and a 200 day moving average of $5.37. The company has a market capitalization of $1.29 billion, a price-to-earnings ratio of -15.40 and a beta of 2.44. Porch Group, Inc. has a 1-year low of $1.05 and a 1-year high of $11.35.

Porch Group (NASDAQ:PRCH) last issued its 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 during the quarter, compared to the consensus estimate of $79.44 million. As a group, sell-side analysts anticipate that Porch Group, Inc. will post -0.63 EPS for the current year.

Insider Buying and Selling

In other Porch Group news, COO Matthew Neagle sold 60,000 shares of the business’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $6.24, for a total value of $374,400.00. Following the sale, the chief operating officer now directly owns 1,384,057 shares of the company’s stock, valued at approximately $8,636,515.68. The trade was a 4.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Shawn Tabak sold 10,000 shares of the business’s stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $5.34, for a total value of $53,400.00. Following the completion of the sale, the chief financial officer now directly owns 218,580 shares in the company, valued at $1,167,217.20. This trade represents a 4.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 455,554 shares of company stock valued at $3,831,090 over the last ninety days. Company insiders own 23.46% of the company’s stock.

Analysts Set New Price Targets

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

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.