Squarepoint Ops LLC Has $286,000 Position in Porch Group, Inc. (NASDAQ:PRCH)

Squarepoint Ops LLC increased its position in shares of Porch Group, Inc. (NASDAQ:PRCH) by 356.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 189,333 shares of the company’s stock after buying an additional 147,866 shares during the quarter. Squarepoint Ops LLC owned 0.19% of Porch Group worth $286,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Renaissance Technologies LLC grew its holdings in shares of Porch Group by 53.8% during the 2nd quarter. Renaissance Technologies LLC now owns 2,184,500 shares of the company’s stock worth $3,299,000 after purchasing an additional 763,800 shares in the last quarter. Marshall Wace LLP boosted its stake in Porch Group by 11.8% during the second quarter. Marshall Wace LLP now owns 2,152,174 shares of the company’s stock worth $3,250,000 after buying an additional 226,721 shares in the last quarter. Acadian Asset Management LLC increased its holdings in Porch Group by 444.5% in the 2nd quarter. Acadian Asset Management LLC now owns 1,571,003 shares of the company’s stock valued at $2,369,000 after buying an additional 1,282,500 shares during the period. Harbor Capital Advisors Inc. acquired a new position in shares of Porch Group in the 2nd quarter valued at $1,989,000. Finally, Natixis bought a new position in shares of Porch Group during the 1st quarter worth about $3,906,000. 48.48% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on PRCH shares. Cantor Fitzgerald raised shares of Porch Group to a “strong-buy” rating in a research note on Tuesday, August 13th. Oppenheimer dropped their target price on Porch Group from $4.50 to $3.50 and set an “outperform” rating for the company in a report on Thursday, August 8th. Northland Securities decreased their price target on Porch Group from $5.00 to $3.25 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. Keefe, Bruyette & Woods dropped their price objective on Porch Group from $3.75 to $1.50 and set a “market perform” rating for the company in a research note on Thursday, August 8th. Finally, Benchmark cut their price objective on Porch Group from $10.00 to $7.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. One research 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 stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $4.18.

Porch Group Stock Performance

NASDAQ PRCH opened at $1.44 on Friday. The stock has a market capitalization of $171.03 million, a P/E ratio of -1.64 and a beta of 2.04. Porch Group, Inc. has a 52 week low of $0.50 and a 52 week high of $4.78. The stock has a fifty day moving average of $1.37 and a 200-day moving average of $2.17.

Porch Group (NASDAQ:PRCH) last announced its quarterly earnings data on Tuesday, August 6th. The company reported ($0.65) EPS for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.07). The company had revenue of $110.84 million during the quarter, compared to analysts’ expectations of $117.91 million. During the same period last year, the firm posted ($0.73) EPS. Equities research analysts forecast that Porch Group, Inc. will post -0.76 earnings per share for the current fiscal year.

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.