Arrowstreet Capital Limited Partnership Buys Shares of 35,717 Porch Group, Inc. (NASDAQ:PRCH)

Arrowstreet Capital Limited Partnership purchased a new position in shares of Porch Group, Inc. (NASDAQ:PRCH) in the 4th quarter, HoldingsChannel.com reports. The firm purchased 35,717 shares of the company’s stock, valued at approximately $176,000.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Porch Group by 24.9% in the fourth quarter. Vanguard Group Inc. now owns 5,511,591 shares of the company’s stock worth $27,117,000 after acquiring an additional 1,100,224 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Porch Group by 225.1% during the 4th quarter. JPMorgan Chase & Co. now owns 730,340 shares of the company’s stock worth $3,593,000 after buying an additional 505,660 shares during the last quarter. Thompson Siegel & Walmsley LLC acquired a new position in Porch Group in the fourth quarter valued at $1,196,000. D.A. Davidson & CO. acquired a new stake in shares of Porch Group in the 4th quarter valued at about $810,000. Finally, Geode Capital Management LLC grew its position in shares of Porch Group by 8.9% during the third quarter. Geode Capital Management LLC now owns 1,987,881 shares of the company’s stock worth $3,052,000 after acquiring an additional 163,133 shares during the last quarter. 48.48% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Benchmark boosted their price target on Porch Group from $7.00 to $10.00 and gave the company a “buy” rating in a research report on Wednesday, February 26th. Stephens boosted their price objective on shares of Porch Group from $8.00 to $10.00 and gave the stock an “overweight” rating in a report on Friday, March 21st. Keefe, Bruyette & Woods boosted their price objective 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. Loop Capital raised Porch Group from a “hold” rating to a “buy” rating and set a $6.00 price target for the company in a research report on Wednesday, February 26th. Finally, Oppenheimer boosted their price objective 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. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Porch Group presently has a consensus rating of “Buy” and an average target price of $7.32.

Insider Activity at Porch Group

In other news, CFO Shawn Tabak sold 108,226 shares of Porch Group stock in a transaction dated Wednesday, February 26th. The stock was 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 approximately $1,086,658.65. The trade was a 37.60 % 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, COO Matthew Neagle sold 27,328 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief operating officer now directly owns 1,356,729 shares in the company, valued at approximately $9,483,535.71. The trade was a 1.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 195,554 shares of company stock worth $1,220,190. Company insiders own 23.46% of the company’s stock.

Porch Group Price Performance

Shares of NASDAQ:PRCH opened at $5.47 on Monday. Porch Group, Inc. has a 12 month low of $1.05 and a 12 month high of $8.49. The firm has a market capitalization of $656.75 million, a PE ratio of -7.81 and a beta of 2.15. The business has a 50-day moving average of $5.87 and a two-hundred day moving average of $4.39.

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.