GAMMA Investing LLC Acquires 2,397 Shares of Porch Group, Inc. (NASDAQ:PRCH)

GAMMA Investing LLC boosted its position in Porch Group, Inc. (NASDAQ:PRCH) by 23.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 12,522 shares of the company’s stock after acquiring an additional 2,397 shares during the period. GAMMA Investing LLC’s holdings in Porch Group were worth $91,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Tower Research Capital LLC TRC boosted its holdings 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. Price T Rowe Associates Inc. MD boosted its holdings in Porch Group by 22.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 30,524 shares of the company’s stock worth $151,000 after acquiring an additional 5,557 shares in the last quarter. Jones Financial Companies Lllp bought a new position in Porch Group in the fourth quarter worth approximately $35,000. ProShare Advisors LLC boosted its holdings in Porch Group by 51.0% in the fourth quarter. ProShare Advisors LLC now owns 22,238 shares of the company’s stock worth $109,000 after acquiring an additional 7,506 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in Porch Group in the fourth quarter worth approximately $50,000. Institutional investors own 48.48% of the company’s stock.

Porch Group Trading Up 3.3%

Shares of Porch Group stock opened at $12.68 on Tuesday. The business’s fifty day simple moving average is $10.17 and its 200 day simple moving average is $7.09. The firm has a market capitalization of $1.54 billion, a P/E ratio of -90.57 and a beta of 2.67. Porch Group, Inc. has a 12 month low of $1.05 and a 12 month high of $12.89.

Porch Group (NASDAQ:PRCH) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $0.02 EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.09. The business had revenue of $104.75 million for the quarter, compared to the consensus estimate of $79.44 million. Analysts predict that Porch Group, Inc. will post -0.63 EPS for the current fiscal year.

Insiders Place Their Bets

In other Porch Group news, Director Rachel Lam sold 25,000 shares of the firm’s stock in a transaction on Friday, June 13th. The stock was sold at an average price of $10.75, for a total value of $268,750.00. Following the completion of the sale, the director directly owned 202,991 shares of the company’s stock, valued at $2,182,153.25. This trade represents a 10.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Shawn Tabak sold 30,000 shares of the firm’s stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $11.23, for a total value of $336,900.00. Following the completion of the sale, the chief financial officer directly owned 172,671 shares of the company’s stock, valued at $1,939,095.33. This represents a 14.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 475,000 shares of company stock valued at $4,895,150. 23.32% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts have issued reports on PRCH shares. B. Riley assumed coverage on Porch Group in a report on Tuesday, July 1st. They issued a “buy” rating and a $15.00 price target on the stock. Oppenheimer increased their price target on Porch Group from $9.00 to $14.00 and gave the company an “outperform” rating in a research report on Wednesday, July 2nd. Stephens lifted their price objective 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 reiterated a “buy” rating and issued a $13.00 target price (up previously from $6.00) on shares of Porch Group in a report on Wednesday, May 14th. Finally, Keefe, Bruyette & Woods raised 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. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $10.28.

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.