BNP Paribas Financial Markets Takes $62,000 Position in Porch Group, Inc. (NASDAQ:PRCH)

BNP Paribas Financial Markets acquired a new stake in Porch Group, Inc. (NASDAQ:PRCH) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 12,676 shares of the company’s stock, valued at approximately $62,000.

Several other large investors have also made changes to their positions in PRCH. SG Americas Securities LLC boosted its holdings in shares of Porch Group by 73.0% in the 4th quarter. SG Americas Securities LLC now owns 47,187 shares of the company’s stock valued at $232,000 after acquiring an additional 19,915 shares during the last quarter. Rik Saylor Financial Inc. purchased a new stake in shares of Porch Group in the 4th quarter valued at $49,000. Rhumbline Advisers boosted its holdings in Porch Group by 30.4% during the fourth quarter. Rhumbline Advisers now owns 77,277 shares of the company’s stock worth $380,000 after buying an additional 18,024 shares in the last quarter. D.A. Davidson & CO. purchased a new stake in Porch Group during the fourth quarter worth $810,000. Finally, Jones Financial Companies Lllp purchased a new stake in Porch Group during the fourth quarter worth $35,000. 48.48% of the stock is owned by hedge funds and other institutional investors.

Porch Group Stock Up 2.5%

Shares of NASDAQ PRCH opened at $9.35 on Tuesday. The company’s 50-day simple moving average is $7.50 and its 200-day simple moving average is $5.92. Porch Group, Inc. has a 52-week low of $1.05 and a 52-week high of $12.20. The firm has a market cap of $1.14 billion, a price-to-earnings ratio of -13.36 and a beta of 2.44.

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

Analyst Ratings Changes

A number of analysts recently issued reports on PRCH shares. Stephens increased their price target on shares of Porch Group from $8.00 to $10.00 and gave the stock an “overweight” rating in a report on Friday, March 21st. Oppenheimer increased their price target on shares of Porch Group from $8.00 to $9.00 and gave the stock an “outperform” rating in a report on Wednesday, May 7th. Benchmark increased their price target on shares of Porch Group from $10.00 to $12.00 and gave the stock a “buy” rating in a report on Wednesday, May 7th. Loop Capital reissued a “buy” rating and set a $13.00 price target (up from $6.00) on shares of Porch Group in a report on Wednesday, May 14th. Finally, Keefe, Bruyette & Woods increased their price target on shares of Porch Group from $6.00 to $7.00 and gave the stock a “market perform” rating in a report on Wednesday, May 7th. 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’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $8.89.

Insider Activity

In other news, CFO Shawn Tabak sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $5.34, for a total value of $53,400.00. Following the transaction, the chief financial officer now directly owns 218,580 shares of the company’s stock, valued at approximately $1,167,217.20. This trade represents a 4.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, COO Matthew Neagle sold 60,000 shares of the firm’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $6.24, for a total transaction of $374,400.00. Following the completion of the transaction, the chief operating officer now directly owns 1,384,057 shares in the company, valued at approximately $8,636,515.68. This represents a 4.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 467,328 shares of company stock worth $4,404,523 over the last 90 days. 23.32% of the stock is currently owned by company insiders.

Porch Group Company 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.