Portolan Capital Management LLC Buys 1,900,416 Shares of Porch Group, Inc. (NASDAQ:PRCH)

Portolan Capital Management LLC increased its stake in Porch Group, Inc. (NASDAQ:PRCH) by 476.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,299,635 shares of the company’s stock after buying an additional 1,900,416 shares during the quarter. Portolan Capital Management LLC owned about 1.92% of Porch Group worth $11,314,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Nisa Investment Advisors LLC lifted its holdings in shares of Porch Group by 5,776.1% in the 4th quarter. Nisa Investment Advisors LLC now owns 6,640 shares of the company’s stock worth $33,000 after acquiring an additional 6,527 shares during the last quarter. Jones Financial Companies Lllp bought a new stake in Porch Group in the fourth quarter worth about $35,000. Rik Saylor Financial Inc. purchased a new position in shares of Porch Group during the fourth quarter valued at approximately $49,000. GAMMA Investing LLC bought a new position in shares of Porch Group during the fourth quarter valued at approximately $50,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of Porch Group in the fourth quarter worth approximately $50,000. 48.48% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In related news, CFO Shawn Tabak sold 108,226 shares of the business’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $6.05, for a total transaction of $654,767.30. Following the completion of the transaction, the chief financial officer now owns 179,613 shares in the company, valued at $1,086,658.65. The trade was a 37.60 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Matthew Neagle sold 27,328 shares of Porch Group stock in a transaction on Monday, March 24th. The stock was sold at an average price of $6.99, for a total transaction of $191,022.72. Following the completion of the transaction, the chief operating officer now directly 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 195,554 shares of company stock worth $1,220,190. 23.46% of the stock is owned by corporate insiders.

Porch Group Trading Up 1.5 %

Shares of NASDAQ:PRCH opened at $5.47 on Monday. The company has a market capitalization of $656.75 million, a PE ratio of -7.81 and a beta of 2.15. Porch Group, Inc. has a 12-month low of $1.05 and a 12-month high of $8.49. The business’s fifty day simple moving average is $5.87 and its 200-day simple moving average is $4.39.

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.