Jones Financial Companies Lllp Makes New $35,000 Investment in Porch Group, Inc. (NASDAQ:PRCH)

Jones Financial Companies Lllp purchased a new position in shares of Porch Group, Inc. (NASDAQ:PRCH) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 7,127 shares of the company’s stock, valued at approximately $35,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC boosted its holdings in Porch Group by 5,776.1% in the 4th quarter. Nisa Investment Advisors LLC now owns 6,640 shares of the company’s stock worth $33,000 after buying an additional 6,527 shares during the last quarter. Rik Saylor Financial Inc. purchased a new stake in shares of Porch Group during the 4th quarter valued at approximately $49,000. GAMMA Investing LLC purchased a new stake in shares of Porch Group during the 4th quarter valued at approximately $50,000. Zacks Investment Management purchased a new stake in shares of Porch Group during the 3rd quarter valued at approximately $32,000. Finally, Caprock Group LLC purchased a new stake in shares of Porch Group during the 3rd quarter valued at approximately $37,000. 48.48% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, COO Matthew Neagle sold 60,000 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $6.24, for a total transaction of $374,400.00. Following the sale, the chief operating officer now owns 1,384,057 shares in the company, valued at approximately $8,636,515.68. This trade represents a 4.15 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Shawn Tabak sold 108,226 shares of the stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $6.05, for a total transaction of $654,767.30. Following the transaction, the chief financial officer now directly owns 179,613 shares in the company, valued at approximately $1,086,658.65. This represents a 37.60 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 23.46% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on PRCH. Craig Hallum lifted 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. Oppenheimer lifted their price target on shares of Porch Group from $7.00 to $8.00 and gave the company an “outperform” rating in a research report on Wednesday, February 26th. Benchmark boosted their target price on Porch Group from $7.00 to $10.00 and gave the company a “buy” rating in a research report on Wednesday, February 26th. Loop Capital raised Porch Group from a “hold” rating to a “buy” rating and set a $6.00 target price on the stock in a research report on Wednesday, February 26th. Finally, Keefe, Bruyette & Woods boosted their target price on Porch Group from $3.50 to $6.00 and gave the company a “market perform” rating in a research report on Monday, March 3rd. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Porch Group has a consensus rating of “Buy” and a consensus price target of $6.41.

Porch Group Trading Up 0.3 %

Shares of Porch Group stock opened at $6.27 on Thursday. Porch Group, Inc. has a 12-month low of $1.05 and a 12-month high of $7.30. The stock has a market cap of $752.80 million, a PE ratio of -8.96 and a beta of 2.04. The company has a 50-day moving average of $5.13 and a two-hundred day moving average of $3.71.

About Porch Group

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.