Porch Group, Inc. (NASDAQ:PRCH) Shares Acquired by Rhumbline Advisers

Rhumbline Advisers raised its stake in shares of Porch Group, Inc. (NASDAQ:PRCH) by 28.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 99,436 shares of the company’s stock after acquiring an additional 22,159 shares during the quarter. Rhumbline Advisers owned approximately 0.08% of Porch Group worth $725,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp bought a new position in shares of Porch Group in the 4th quarter worth about $35,000. Raymond James Financial Inc. acquired a new position in shares of Porch Group in the 4th quarter worth approximately $50,000. Ameriprise Financial Inc. acquired a new position in shares of Porch Group in the 4th quarter worth approximately $51,000. Tower Research Capital LLC TRC increased its position 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 worth $54,000 after acquiring an additional 5,273 shares in the last quarter. Finally, Squarepoint Ops LLC purchased a new position in shares of Porch Group in the fourth quarter worth approximately $57,000. 48.48% of the stock is currently owned by institutional investors.

Porch Group Stock Performance

PRCH opened at $10.72 on Friday. The firm’s 50-day simple moving average is $8.75 and its 200-day simple moving average is $6.57. Porch Group, Inc. has a twelve month low of $1.05 and a twelve month high of $12.20. The firm has a market cap of $1.30 billion, a price-to-earnings ratio of -76.57 and a beta of 2.63.

Porch Group (NASDAQ:PRCH) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.02 EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.09. The company had revenue of $104.75 million for 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 fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently commented on PRCH shares. Stephens raised 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. Loop Capital restated a “buy” rating and issued a $13.00 price objective (up from $6.00) on shares of Porch Group in a research note on Wednesday, May 14th. Oppenheimer upped their target price on shares of Porch Group from $8.00 to $9.00 and gave the company an “outperform” rating in a research note on Wednesday, May 7th. Benchmark upped their target price on shares of Porch Group from $10.00 to $12.00 and gave the company a “buy” rating in a research note on Wednesday, May 7th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Porch Group from $6.00 to $7.00 and gave the company a “market perform” rating in a research note on Wednesday, May 7th. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Porch Group presently has an average rating of “Buy” and an average price target of $8.89.

Insider Buying and Selling at Porch Group

In related news, Director Alan R. Pickerill sold 40,000 shares of the stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $11.26, for a total value of $450,400.00. Following the sale, the director now directly owns 182,416 shares in the company, valued at $2,054,004.16. This trade represents a 17.98% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Rachel Lam sold 25,000 shares of the stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $10.75, for a total transaction of $268,750.00. Following the completion of the sale, the director now owns 202,991 shares in the company, valued at $2,182,153.25. This represents a 10.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 502,328 shares of company stock worth $5,086,173. Company insiders own 23.32% of the company’s stock.

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.