Rik Saylor Financial Inc. Buys New Shares in Porch Group, Inc. (NASDAQ:PRCH)

Rik Saylor Financial Inc. acquired a new stake in shares of Porch Group, Inc. (NASDAQ:PRCH) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 10,000 shares of the company’s stock, valued at approximately $49,000.

A number of other institutional investors and hedge funds have also bought and sold shares of PRCH. Harbor Capital Advisors Inc. grew its holdings in shares of Porch Group by 186.6% in the third quarter. Harbor Capital Advisors Inc. now owns 3,774,909 shares of the company’s stock worth $5,794,000 after purchasing an additional 2,457,915 shares during the last quarter. GSA Capital Partners LLP grew its holdings in Porch Group by 223.4% in the 3rd quarter. GSA Capital Partners LLP now owns 1,532,616 shares of the company’s stock worth $2,353,000 after acquiring an additional 1,058,653 shares during the last quarter. Portolan Capital Management LLC bought a new stake in shares of Porch Group in the third quarter worth about $613,000. Sei Investments Co. bought a new stake in shares of Porch Group in the second quarter worth about $477,000. Finally, Citizens Financial Group Inc. RI grew its stake in shares of Porch Group by 128.6% in the third quarter. Citizens Financial Group Inc. RI now owns 400,000 shares of the company’s stock worth $614,000 after purchasing an additional 225,000 shares during the last quarter. 48.48% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Oppenheimer raised their price target on Porch Group from $4.00 to $7.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. Stephens lifted their target price on shares of Porch Group from $4.00 to $5.00 and gave the company an “overweight” rating in a research note on Monday, November 11th. Craig Hallum boosted their price target on shares of Porch Group from $4.00 to $8.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Benchmark reaffirmed a “buy” rating and set a $7.00 price objective on shares of Porch Group in a research report on Tuesday, October 29th. Finally, Loop Capital restated a “hold” rating and set a $6.00 price target on shares of Porch Group in a research report on Monday, December 9th. Two research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Porch Group currently has an average rating of “Moderate Buy” and a consensus target price of $5.34.

Porch Group Trading Down 2.4 %

Shares of NASDAQ PRCH opened at $4.53 on Thursday. Porch Group, Inc. has a 52-week low of $1.05 and a 52-week high of $6.03. The firm’s 50 day moving average price is $4.84 and its 200-day moving average price is $2.87.

Porch Group (NASDAQ:PRCH) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.01). The firm had revenue of $111.20 million during the quarter. During the same quarter in the prior year, the company earned ($0.12) EPS. As a group, research analysts expect that Porch Group, Inc. will post -0.63 earnings per share for the current year.

Insider Activity

In related news, CFO Shawn Tabak sold 21,774 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $6.00, for a total transaction of $130,644.00. Following the transaction, the chief financial officer now owns 287,839 shares in the company, valued at $1,727,034. This represents a 7.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 23.46% 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.