Los Angeles Capital Management LLC Makes New Investment in Porch Group, Inc. (NASDAQ:PRCH)

Los Angeles Capital Management LLC purchased a new position in Porch Group, Inc. (NASDAQ:PRCH) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 30,190 shares of the company’s stock, valued at approximately $46,000.

Several other institutional investors and hedge funds have also recently modified their holdings of PRCH. Susquehanna Fundamental Investments LLC boosted its position in Porch Group by 34.5% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 37,489 shares of the company’s stock valued at $57,000 after acquiring an additional 9,626 shares in the last quarter. Alpine Global Management LLC purchased a new stake in shares of Porch Group in the 1st quarter valued at $43,000. Mackenzie Financial Corp grew its position in Porch Group by 102.4% during the 2nd quarter. Mackenzie Financial Corp now owns 23,908 shares of the company’s stock worth $36,000 after purchasing an additional 12,097 shares during the period. AE Wealth Management LLC grew its holdings in Porch Group by 7.5% during the second quarter. AE Wealth Management LLC now owns 241,879 shares of the company’s stock worth $365,000 after acquiring an additional 16,793 shares during the period. Finally, Bayesian Capital Management LP purchased a new position in Porch Group in the first quarter valued at $80,000. 48.48% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on PRCH. Cantor Fitzgerald raised Porch Group to a “strong-buy” rating in a report on Tuesday, August 13th. Craig Hallum lifted their price objective on Porch Group from $3.00 to $4.00 and gave the company a “buy” rating in a research note on Tuesday, October 29th. Oppenheimer decreased their price target on shares of Porch Group from $4.50 to $3.50 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Stephens boosted their price objective on Porch Group from $4.00 to $5.00 and gave the stock an “overweight” rating in a research report on Monday, November 11th. Finally, Northland Securities lowered their target price 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. One 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 company. According to data from MarketBeat.com, Porch Group has a consensus rating of “Buy” and a consensus price target of $4.18.

Porch Group Trading Down 4.0 %

NASDAQ:PRCH opened at $2.86 on Tuesday. The company’s 50-day moving average is $1.81 and its two-hundred day moving average is $1.85. The firm has a market cap of $339.68 million, a price-to-earnings ratio of -4.09 and a beta of 1.98. Porch Group, Inc. has a 12-month low of $1.05 and a 12-month high of $4.78.

Insider Activity

In related news, CFO Shawn Tabak sold 15,000 shares of the stock in a transaction on Monday, October 28th. The stock was 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 directly owns 278,298 shares in the company, valued at approximately $556,596. This represents a 5.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 23.46% of the company’s stock.

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.