Porch Group, Inc. (NASDAQ:PRCH) Stake Increased by Marshall Wace LLP

Marshall Wace LLP lifted its holdings in Porch Group, Inc. (NASDAQ:PRCH) by 11.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,152,174 shares of the company’s stock after buying an additional 226,721 shares during the period. Marshall Wace LLP owned about 2.17% of Porch Group worth $3,250,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Alpine Global Management LLC acquired a new stake in Porch Group during the 1st quarter worth about $43,000. Bayesian Capital Management LP acquired a new stake in shares of Porch Group during the first quarter worth approximately $80,000. Rhumbline Advisers purchased a new position in Porch Group during the second quarter valued at approximately $99,000. Susquehanna Fundamental Investments LLC acquired a new position in Porch Group in the 1st quarter valued at approximately $120,000. Finally, XTX Topco Ltd lifted its position in Porch Group by 178.4% in the 2nd quarter. XTX Topco Ltd now owns 83,756 shares of the company’s stock worth $126,000 after buying an additional 53,667 shares in the last quarter. Hedge funds and other institutional investors own 48.48% of the company’s stock.

Analyst Ratings Changes

PRCH has been the topic of several research analyst reports. Keefe, Bruyette & Woods lowered their price target on shares of Porch Group from $3.75 to $1.50 and set a “market perform” rating on the stock in a report on Thursday, August 8th. Cantor Fitzgerald raised Porch Group to a “strong-buy” rating in a research report on Tuesday, August 13th. Craig Hallum reduced their price target on Porch Group from $5.00 to $3.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Benchmark dropped their price objective on Porch Group from $10.00 to $7.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Finally, Oppenheimer cut their price objective on shares of Porch Group from $4.50 to $3.50 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $4.18.

Porch Group Stock Performance

PRCH opened at $1.40 on Thursday. The stock has a 50-day moving average of $1.46 and a 200-day moving average of $2.27. Porch Group, Inc. has a 52-week low of $0.50 and a 52-week high of $4.78. The company has a market cap of $166.28 million, a PE ratio of -1.23 and a beta of 2.04.

Porch Group (NASDAQ:PRCH) last announced its quarterly earnings results on Tuesday, August 6th. The company reported ($0.65) EPS for the quarter, missing the consensus estimate of ($0.58) by ($0.07). The business had revenue of $110.84 million during the quarter, compared to the consensus estimate of $117.91 million. During the same quarter in the previous year, the business posted ($0.73) EPS. On average, research analysts predict that Porch Group, Inc. will post -0.76 earnings per share for the current year.

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.