Stephens Inc. AR Sells 4,850 Shares of Porch Group, Inc. (NASDAQ:PRCH)

Stephens Inc. AR trimmed its holdings in shares of Porch Group, Inc. (NASDAQ:PRCH) by 11.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,743 shares of the company’s stock after selling 4,850 shares during the period. Stephens Inc. AR’s holdings in Porch Group were worth $261,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. GAMMA Investing LLC grew its holdings in Porch Group by 23.7% during the 1st quarter. GAMMA Investing LLC now owns 12,522 shares of the company’s stock worth $91,000 after acquiring an additional 2,397 shares in the last quarter. FNY Investment Advisers LLC bought a new position in Porch Group during the 1st quarter worth about $29,000. Tower Research Capital LLC TRC grew its holdings in Porch Group by 91.8% during the 4th 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 grew its holdings in Porch Group by 22.3% during the 4th 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. Finally, ProShare Advisors LLC grew its holdings in Porch Group by 51.0% during the 4th 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. 48.48% of the stock is currently owned by institutional investors.

Insider Activity 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 completion of the transaction, the director directly owned 182,416 shares of the company’s stock, valued at $2,054,004.16. This trade represents a 17.98% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 transaction, the director directly owned 202,991 shares of the company’s stock, valued at $2,182,153.25. The trade was a 10.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 465,000 shares of company stock valued at $4,841,750. Company insiders own 23.32% of the company’s stock.

Porch Group Stock Up 3.7%

Shares of Porch Group stock opened at $13.48 on Monday. The firm has a market capitalization of $1.64 billion, a P/E ratio of -96.29 and a beta of 2.67. The company has a 50 day moving average price of $11.09 and a 200 day moving average price of $7.56. Porch Group, Inc. has a 52 week low of $1.05 and a 52 week high of $13.63.

Porch Group (NASDAQ:PRCH) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.02 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 analysts’ expectations of $79.44 million. As a group, research analysts anticipate that Porch Group, Inc. will post -0.63 earnings per share for the current fiscal year.

Analyst Ratings Changes

PRCH has been the topic of several recent research reports. Keefe, Bruyette & Woods increased their target price 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. Loop Capital reissued 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. Benchmark increased 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. B. Riley assumed coverage on shares of Porch Group in a research report on Tuesday, July 1st. They set a “buy” rating and a $15.00 price target for the company. Finally, Oppenheimer increased their price target on shares of Porch Group from $9.00 to $14.00 and gave the company an “outperform” rating in a research report on Wednesday, July 2nd. One research analyst has rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Porch Group presently has a consensus rating of “Buy” and an average price target of $10.28.

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.