Los Angeles Capital Management LLC Invests $46,000 in Porch Group, Inc. (NASDAQ:PRCH)

Los Angeles Capital Management LLC acquired a new position in Porch Group, Inc. (NASDAQ:PRCH) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 30,190 shares of the company’s stock, valued at approximately $46,000.

A number of other hedge funds also recently made changes to their positions in the business. Harbor Capital Advisors Inc. boosted its holdings in shares of Porch Group by 186.6% in the third quarter. Harbor Capital Advisors Inc. now owns 3,774,909 shares of the company’s stock valued at $5,794,000 after acquiring an additional 2,457,915 shares in the last quarter. Renaissance Technologies LLC boosted its position in Porch Group by 53.8% during the second quarter. Renaissance Technologies LLC now owns 2,184,500 shares of the company’s stock valued at $3,299,000 after purchasing an additional 763,800 shares during the last quarter. Marshall Wace LLP grew its stake in shares of Porch Group by 11.8% in the 2nd quarter. Marshall Wace LLP now owns 2,152,174 shares of the company’s stock valued at $3,250,000 after buying an additional 226,721 shares in the last quarter. Acadian Asset Management LLC grew its position 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 acquiring an additional 1,282,500 shares in the last quarter. Finally, Natixis acquired a new position in Porch Group during the first quarter worth $3,906,000. Institutional investors own 48.48% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Shawn Tabak sold 15,000 shares of the company’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $2.00, for a total value of $30,000.00. Following the completion of the sale, the chief financial officer now owns 278,298 shares in the company, valued at $556,596. This represents a 5.11 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 23.46% of the company’s stock.

Porch Group Price Performance

Porch Group stock opened at $2.86 on Tuesday. The firm has a market capitalization of $339.68 million, a price-to-earnings ratio of -4.09 and a beta of 1.98. The company’s 50 day simple moving average is $1.81 and its 200 day simple moving average is $1.85. Porch Group, Inc. has a fifty-two week low of $1.05 and a fifty-two week high of $4.78.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on PRCH. Northland Securities dropped their target price on shares of Porch Group from $5.00 to $3.25 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. Oppenheimer decreased their price target on shares of Porch Group from $4.50 to $3.50 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Stephens upped their price objective on Porch Group from $4.00 to $5.00 and gave the company an “overweight” rating in a research note on Monday, November 11th. Keefe, Bruyette & Woods dropped their target price on shares of Porch Group from $3.75 to $1.50 and set a “market perform” rating for the company in a research report on Thursday, August 8th. Finally, Cantor Fitzgerald raised Porch Group to a “strong-buy” rating in a research note on Tuesday, August 13th. 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 company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $4.18.

Porch Group Company 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.