Diametric Capital LP Takes Position in Porch Group, Inc. (NASDAQ:PRCH)

Diametric Capital LP purchased a new position in Porch Group, Inc. (NASDAQ:PRCH) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 114,544 shares of the company’s stock, valued at approximately $564,000. Diametric Capital LP owned approximately 0.10% of Porch Group at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Nisa Investment Advisors LLC raised its position 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 in the last quarter. Jones Financial Companies Lllp bought a new position in Porch Group in the fourth quarter worth $35,000. Rik Saylor Financial Inc. purchased a new position in Porch Group during the fourth quarter valued at $49,000. Raymond James Financial Inc. purchased a new position in Porch Group during the fourth quarter valued at $50,000. Finally, GAMMA Investing LLC bought a new stake in shares of Porch Group during the 4th quarter valued at $50,000. 48.48% of the stock is currently owned by hedge funds and other institutional investors.

Porch Group Trading Down 1.4 %

Shares of PRCH opened at $7.29 on Tuesday. The company has a market cap of $875.27 million, a price-to-earnings ratio of -10.41 and a beta of 2.04. The business’s fifty day simple moving average is $5.54 and its two-hundred day simple moving average is $4.07. Porch Group, Inc. has a 12 month low of $1.05 and a 12 month high of $8.49.

Insider Activity

In other news, COO Matthew Neagle sold 27,328 shares of Porch Group stock in a transaction that occurred 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 completion of the sale, the chief operating officer now directly owns 1,356,729 shares in the company, valued at $9,483,535.71. The trade was a 1.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Shawn Tabak sold 108,226 shares of the 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 transaction, the chief financial officer now owns 179,613 shares in the company, valued at approximately $1,086,658.65. This trade represents a 37.60 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 195,554 shares of company stock valued at $1,220,190 over the last ninety days. 23.46% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts recently issued reports on PRCH shares. Stephens increased 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. Craig Hallum raised their target price on shares of Porch Group from $4.00 to $8.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Benchmark boosted their price target on Porch Group from $7.00 to $10.00 and gave the stock a “buy” rating in a research report on Wednesday, February 26th. Oppenheimer raised their price objective on Porch Group from $7.00 to $8.00 and gave the company an “outperform” rating in a research report on Wednesday, February 26th. Finally, Loop Capital upgraded Porch Group from a “hold” rating to a “buy” rating and set a $6.00 price objective for the company in a research note on Wednesday, February 26th. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $7.03.

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.