GAMMA Investing LLC Buys 81,160 Shares of Porch Group, Inc. (NASDAQ:PRCH)

GAMMA Investing LLC raised its holdings in shares of Porch Group, Inc. (NASDAQ:PRCH) by 801.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 91,285 shares of the company’s stock after acquiring an additional 81,160 shares during the quarter. GAMMA Investing LLC owned about 0.08% of Porch Group worth $665,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Jones Financial Companies Lllp bought a new position in shares of Porch Group in the fourth quarter worth $35,000. Raymond James Financial Inc. bought a new position in shares of Porch Group in the fourth quarter worth $50,000. Ameriprise Financial Inc. bought a new position in shares of Porch Group in the fourth quarter worth $51,000. Tower Research Capital LLC TRC grew its position in Porch Group by 91.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 11,017 shares of the company’s stock worth $54,000 after acquiring an additional 5,273 shares in the last quarter. Finally, Squarepoint Ops LLC purchased a new position in Porch Group in the fourth quarter worth $57,000. Institutional investors own 48.48% of the company’s stock.

Insider Buying and Selling at Porch Group

In other Porch Group news, Director Alan R. Pickerill sold 40,000 shares of Porch Group stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $11.26, for a total transaction of $450,400.00. Following the transaction, the director now directly owns 182,416 shares of the company’s stock, valued at $2,054,004.16. The trade was a 17.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Matthew Neagle sold 27,328 shares of Porch Group stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $6.99, for a total transaction of $191,022.72. Following the completion of the transaction, the chief operating officer now owns 1,356,729 shares of the company’s stock, valued at $9,483,535.71. This trade represents a 1.97% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 502,328 shares of company stock valued at $5,086,173 over the last ninety days. Corporate insiders own 23.32% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Stephens upped their price target on shares of Porch Group from $8.00 to $10.00 and gave the company an “overweight” rating in a research report on Friday, March 21st. Keefe, Bruyette & Woods upped their price target on shares of Porch Group from $6.00 to $7.00 and gave the company a “market perform” rating in a research report on Wednesday, May 7th. Oppenheimer upped their price target on shares of Porch Group from $8.00 to $9.00 and gave the company an “outperform” rating in a research report on Wednesday, May 7th. Loop Capital restated a “buy” rating and set a $13.00 price target (up from $6.00) on shares of Porch Group in a research report on Wednesday, May 14th. Finally, Benchmark upped their price target on shares of Porch Group from $10.00 to $12.00 and gave the company a “buy” rating in a research 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. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $8.89.

Porch Group Price Performance

NASDAQ:PRCH opened at $10.90 on Thursday. The firm has a 50 day moving average of $8.53 and a 200 day moving average of $6.48. The stock has a market capitalization of $1.32 billion, a price-to-earnings ratio of -77.86 and a beta of 2.63. Porch Group, Inc. has a 52 week low of $1.05 and a 52 week high of $12.20.

Porch Group (NASDAQ:PRCH) last released its quarterly earnings data on Tuesday, May 6th. The company reported $0.02 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.09. The business had revenue of $104.75 million during the quarter, compared to analyst estimates of $79.44 million. As a group, analysts expect that Porch Group, Inc. will post -0.63 EPS for the current year.

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.