72,535 Shares in Porch Group, Inc. (NASDAQ:PRCH) Acquired by Emerald Mutual Fund Advisers Trust

Emerald Mutual Fund Advisers Trust bought a new position in Porch Group, Inc. (NASDAQ:PRCH) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 72,535 shares of the company’s stock, valued at approximately $357,000. Emerald Mutual Fund Advisers Trust owned 0.06% of Porch Group at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Arrowstreet Capital Limited Partnership purchased a new stake in Porch Group in the fourth quarter worth about $176,000. Franklin Resources Inc. purchased a new stake in shares of Porch Group in the 3rd quarter worth approximately $238,000. Barclays PLC boosted its stake in shares of Porch Group by 415.5% during the third quarter. Barclays PLC now owns 134,919 shares of the company’s stock valued at $207,000 after purchasing an additional 108,748 shares in the last quarter. Geode Capital Management LLC increased its holdings in Porch Group by 8.9% during the third 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. Finally, State Street Corp raised its stake in Porch Group by 7.4% in the third quarter. State Street Corp now owns 1,667,493 shares of the company’s stock worth $2,560,000 after buying an additional 115,176 shares in the last quarter. Institutional investors own 48.48% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on PRCH shares. Keefe, Bruyette & Woods lifted their price target on Porch Group from $3.50 to $6.00 and gave the company a “market perform” rating in a report on Monday, March 3rd. Stephens lifted their price objective on shares of Porch Group from $8.00 to $10.00 and gave the stock an “overweight” rating in a research report on Friday, March 21st. Loop Capital raised shares of Porch Group from a “hold” rating to a “buy” rating and set a $6.00 target price for the company in a research report on Wednesday, February 26th. Oppenheimer lifted their price target on shares of Porch Group from $7.00 to $8.00 and gave the stock an “outperform” rating in a report on Wednesday, February 26th. Finally, Benchmark increased their price objective on Porch Group from $7.00 to $10.00 and gave the company a “buy” rating in a report on Wednesday, February 26th. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $7.32.

Insider Buying and Selling

In other news, COO Matthew Neagle sold 27,328 shares of the stock in a transaction 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 sale, the chief operating officer now owns 1,356,729 shares in the company, valued at $9,483,535.71. This represents a 1.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Shawn Tabak sold 10,000 shares of the business’s stock in a transaction on Tuesday, April 15th. The shares were sold at an average price of $5.34, for a total transaction of $53,400.00. Following the transaction, the chief financial officer now owns 218,580 shares of the company’s stock, valued at $1,167,217.20. This represents a 4.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 205,554 shares of company stock worth $1,273,590 in the last 90 days. Insiders own 23.46% of the company’s stock.

Porch Group Trading Up 6.7 %

NASDAQ PRCH opened at $6.18 on Wednesday. Porch Group, Inc. has a 12-month low of $1.05 and a 12-month high of $8.49. The company has a fifty day simple moving average of $6.02 and a two-hundred day simple moving average of $4.69. The stock has a market cap of $742.00 million, a P/E ratio of -8.83 and a beta of 2.15.

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.