Barclays PLC Boosts Stake in Porch Group, Inc. (NASDAQ:PRCH)

Barclays PLC increased its stake in shares of Porch Group, Inc. (NASDAQ:PRCH) by 415.5% in the third quarter, HoldingsChannel.com reports. The firm owned 134,919 shares of the company’s stock after buying an additional 108,748 shares during the period. Barclays PLC’s holdings in Porch Group were worth $207,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in PRCH. Harbor Capital Advisors Inc. boosted its position in Porch Group by 186.6% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 3,774,909 shares of the company’s stock valued at $5,794,000 after buying an additional 2,457,915 shares during the period. Renaissance Technologies LLC boosted its position in Porch Group by 53.8% in the 2nd quarter. Renaissance Technologies LLC now owns 2,184,500 shares of the company’s stock valued at $3,299,000 after buying an additional 763,800 shares during the period. GSA Capital Partners LLP boosted its position in Porch Group by 223.4% in the 3rd quarter. GSA Capital Partners LLP now owns 1,532,616 shares of the company’s stock valued at $2,353,000 after buying an additional 1,058,653 shares during the period. Citizens Financial Group Inc. RI boosted its position in Porch Group by 128.6% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 400,000 shares of the company’s stock valued at $614,000 after buying an additional 225,000 shares during the period. Finally, Geode Capital Management LLC boosted its position in Porch Group by 8.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,987,881 shares of the company’s stock valued at $3,052,000 after buying an additional 163,133 shares during the period. Hedge funds and other institutional investors own 48.48% of the company’s stock.

Porch Group Trading Down 1.9 %

Porch Group stock opened at $4.53 on Wednesday. The stock has a market cap of $541.52 million, a P/E ratio of -6.47 and a beta of 2.05. The company has a fifty day simple moving average of $4.59 and a 200-day simple moving average of $2.69. Porch Group, Inc. has a 12-month low of $1.05 and a 12-month high of $6.03.

Porch Group (NASDAQ:PRCH) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($0.02) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.01). The company had revenue of $111.20 million for the quarter. During the same quarter last year, the company posted ($0.12) EPS. As a group, sell-side analysts forecast that Porch Group, Inc. will post -0.63 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have commented on PRCH shares. Craig Hallum raised 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 raised their price target on shares of Porch Group from $4.00 to $7.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. Benchmark reissued a “buy” rating and issued a $7.00 price target on shares of Porch Group in a research report on Tuesday, October 29th. Loop Capital reaffirmed a “hold” rating and set a $6.00 price objective on shares of Porch Group in a research report on Monday, December 9th. Finally, Stephens lifted their price objective on shares of Porch Group from $4.00 to $5.00 and gave the stock an “overweight” rating in a research report on Monday, November 11th. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $5.34.

Insider Buying and Selling

In related news, CFO Shawn Tabak sold 21,774 shares of Porch Group stock in a transaction on Monday, December 16th. The shares were sold at an average price of $6.00, for a total transaction of $130,644.00. Following the sale, the chief financial officer now directly owns 287,839 shares in the company, valued at $1,727,034. This trade represents a 7.03 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 23.46% of the stock is owned by company insiders.

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.