Covestor Ltd Makes New $118,000 Investment in Porch Group, Inc. (NASDAQ:PRCH)

Covestor Ltd purchased a new stake in shares of Porch Group, Inc. (NASDAQ:PRCH) in the fourth quarter, Holdings Channel.com reports. The firm purchased 24,076 shares of the company’s stock, valued at approximately $118,000.

Several other institutional investors have also recently made changes to their positions in PRCH. Nisa Investment Advisors LLC boosted its stake in Porch Group by 5,776.1% during the fourth quarter. Nisa Investment Advisors LLC now owns 6,640 shares of the company’s stock valued at $33,000 after buying an additional 6,527 shares during the period. Jones Financial Companies Lllp bought a new stake in shares of Porch Group during the 4th quarter valued at about $35,000. Rik Saylor Financial Inc. purchased a new position in shares of Porch Group during the fourth quarter worth about $49,000. Raymond James Financial Inc. bought a new position in shares of Porch Group in the fourth quarter worth approximately $50,000. Finally, GAMMA Investing LLC bought a new position in shares of Porch Group in the fourth quarter worth approximately $50,000. Institutional investors own 48.48% of the company’s stock.

Wall Street Analysts Forecast Growth

PRCH has been the subject of a number of research reports. Loop Capital raised shares of Porch Group from a “hold” rating to a “buy” rating and set a $6.00 price target for the company in a research note on Wednesday, February 26th. Keefe, Bruyette & Woods upped their target price on shares of Porch Group from $3.50 to $6.00 and gave the stock a “market perform” rating in a research report on Monday, March 3rd. Stephens increased their target price on Porch Group from $8.00 to $10.00 and gave the company an “overweight” rating in a research note on Friday, March 21st. Benchmark lifted their price target on Porch Group from $7.00 to $10.00 and gave the stock a “buy” rating in a research note on Wednesday, February 26th. Finally, Oppenheimer increased their price objective on Porch Group from $7.00 to $8.00 and gave the company an “outperform” rating in a research report on Wednesday, February 26th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $7.32.

Porch Group Trading Up 1.5 %

NASDAQ PRCH opened at $5.47 on Friday. The firm has a market cap of $656.75 million, a PE ratio of -7.81 and a beta of 2.15. Porch Group, Inc. has a 1-year low of $1.05 and a 1-year high of $8.49. The stock has a 50-day moving average of $5.87 and a 200-day moving average of $4.37.

Insider Buying and Selling at Porch Group

In related news, COO Matthew Neagle sold 27,328 shares of Porch Group stock in a transaction on Monday, March 24th. The shares were sold at an average price of $6.99, for a total value of $191,022.72. Following the transaction, the chief operating officer now directly owns 1,356,729 shares of the company’s stock, valued at $9,483,535.71. The trade was a 1.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Shawn Tabak sold 108,226 shares of the stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $6.05, for a total transaction of $654,767.30. Following the sale, the chief financial officer now directly owns 179,613 shares of the company’s stock, valued at $1,086,658.65. The trade was a 37.60 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 195,554 shares of company stock worth $1,220,190. 23.46% of the stock is currently owned by insiders.

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.