Porch Group, Inc. (NASDAQ:PRCH) Stake Boosted by Citizens Financial Group Inc. RI

Citizens Financial Group Inc. RI increased its position in shares of Porch Group, Inc. (NASDAQ:PRCH) by 128.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 400,000 shares of the company’s stock after acquiring an additional 225,000 shares during the period. Citizens Financial Group Inc. RI owned about 0.34% of Porch Group worth $614,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Harbor Capital Advisors Inc. raised its stake in shares of Porch Group by 186.6% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 3,774,909 shares of the company’s stock worth $5,794,000 after purchasing an additional 2,457,915 shares in the last quarter. Acadian Asset Management LLC increased its holdings in Porch Group by 444.5% in the second quarter. Acadian Asset Management LLC now owns 1,571,003 shares of the company’s stock worth $2,369,000 after buying an additional 1,282,500 shares during the last quarter. GSA Capital Partners LLP raised its position in 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 acquiring an additional 1,058,653 shares in the last quarter. Renaissance Technologies LLC lifted its stake in 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 acquiring an additional 763,800 shares during the last quarter. Finally, Sei Investments Co. bought a new stake in Porch Group in the second quarter worth approximately $477,000. Institutional investors and hedge funds own 48.48% of the company’s stock.

Insider Transactions at Porch Group

In related news, CFO Shawn Tabak sold 15,000 shares of Porch Group stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $2.00, for a total transaction of $30,000.00. Following the sale, the chief financial officer now directly owns 278,298 shares of the company’s stock, valued at $556,596. This trade represents a 5.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 23.46% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Northland Securities reduced their price objective on shares of Porch Group from $5.00 to $3.25 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. Cantor Fitzgerald raised Porch Group to a “strong-buy” rating in a research report on Tuesday, August 13th. Keefe, Bruyette & Woods lowered their price objective on Porch Group from $3.75 to $1.50 and set a “market perform” rating on the stock in a report on Thursday, August 8th. Benchmark restated a “buy” rating and issued a $7.00 target price on shares of Porch Group in a report on Tuesday, October 29th. Finally, Oppenheimer lowered their price target on Porch Group from $4.50 to $3.50 and set an “outperform” rating on the stock in a report on Thursday, August 8th. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $4.18.

Porch Group Stock Down 3.1 %

Shares of NASDAQ PRCH opened at $3.45 on Friday. Porch Group, Inc. has a 12 month low of $1.05 and a 12 month high of $4.78. The company has a market cap of $412.41 million, a P/E ratio of -4.93 and a beta of 1.98. The business’s 50 day moving average is $1.98 and its two-hundred day moving average is $1.87.

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.