Jane Street Group LLC Reduces Stock Holdings in Porch Group, Inc. (NASDAQ:PRCH)

Jane Street Group LLC lessened its holdings in shares of Porch Group, Inc. (NASDAQ:PRCH) by 47.8% in the third quarter, Holdings Channel.com reports. The firm owned 35,266 shares of the company’s stock after selling 32,281 shares during the period. Jane Street Group LLC’s holdings in Porch Group were worth $54,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in PRCH. Harbor Capital Advisors Inc. boosted its position in Porch Group by 186.6% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 3,774,909 shares of the company’s stock valued at $5,794,000 after purchasing an additional 2,457,915 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of Porch Group by 53.8% in the second quarter. Renaissance Technologies LLC now owns 2,184,500 shares of the company’s stock valued at $3,299,000 after buying an additional 763,800 shares during the period. GSA Capital Partners LLP lifted its holdings in shares of Porch Group by 223.4% during the third quarter. GSA Capital Partners LLP now owns 1,532,616 shares of the company’s stock valued at $2,353,000 after purchasing an additional 1,058,653 shares during the last quarter. Citizens Financial Group Inc. RI lifted its holdings in shares of Porch Group by 128.6% during the third quarter. Citizens Financial Group Inc. RI now owns 400,000 shares of the company’s stock valued at $614,000 after purchasing an additional 225,000 shares during the last quarter. Finally, State Street Corp raised its position in Porch Group by 7.4% during the third quarter. State Street Corp now owns 1,667,493 shares of the company’s stock valued at $2,560,000 after buying an additional 115,176 shares during the period. Institutional investors and hedge funds own 48.48% of the company’s stock.

Analysts Set New Price Targets

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

Porch Group Price Performance

Shares of Porch Group stock opened at $4.78 on Thursday. The firm has a market cap of $571.42 million, a price-to-earnings ratio of -6.83 and a beta of 2.05. The stock’s 50-day moving average is $4.42 and its 200-day moving average is $2.58. Porch Group, Inc. has a one year low of $1.05 and a one year high of $6.03.

Insider Activity at Porch Group

In related news, CFO Shawn Tabak sold 21,774 shares of Porch Group stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $6.00, for a total value of $130,644.00. Following the sale, the chief financial officer now owns 287,839 shares of the company’s stock, valued at approximately $1,727,034. The trade was a 7.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 23.46% of the stock is owned by company 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.