Moody National Bank Trust Division purchased a new position in shares of Porch Group, Inc. (NASDAQ:PRCH – Get Rating) during the 2nd quarter, Holdings Channel.com reports. The firm purchased 93,250 shares of the company's stock, valued at approximately $239,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Rhumbline Advisers raised its stake in Porch Group by 1.5% during the 4th quarter. Rhumbline Advisers now owns 75,500 shares of the company's stock worth $1,177,000 after acquiring an additional 1,148 shares in the last quarter. Teacher Retirement System of Texas increased its stake in Porch Group by 31.9% in the fourth quarter. Teacher Retirement System of Texas now owns 16,178 shares of the company's stock valued at $252,000 after purchasing an additional 3,915 shares during the period. Providence Capital Advisors LLC acquired a new position in Porch Group in the first quarter valued at $44,000. JPMorgan Chase & Co. increased its stake in Porch Group by 1.3% in the first quarter. JPMorgan Chase & Co. now owns 497,530 shares of the company's stock valued at $3,454,000 after purchasing an additional 6,377 shares during the period. Finally, Hardy Reed LLC acquired a new position in Porch Group in the first quarter valued at $45,000.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Cantor Fitzgerald assumed coverage on shares of Porch Group in a research note on Wednesday, August 10th. They issued an "overweight" rating and a $8.00 price objective on the stock. Compass Point started coverage on shares of Porch Group in a research note on Wednesday, May 25th. They set a "buy" rating and a $11.50 price target on the stock. Finally, Keefe, Bruyette & Woods reiterated a "downgrade" rating on shares of Porch Group in a research note on Monday, July 25th. Twelve research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $16.90.

Porch Group Stock Performance

Porch Group (NASDAQ:PRCH – Get Rating) last released its quarterly earnings data on Tuesday, August 9th. The company reported ($0.27) EPS for the quarter, missing analysts' consensus estimates of ($0.24) by ($0.03). The company had revenue of $70.77 million for the quarter, compared to analysts' expectations of $76.44 million. Porch Group had a negative return on equity of 42.98% and a negative net margin of 24.17%. On average, equities analysts expect that Porch Group, Inc. will post -0.95 EPS for the current fiscal year.

Insider Buying and Selling at Porch Group

In other Porch Group news, COO Matthew Neagle purchased 100,000 shares of Porch Group stock in a transaction on Monday, August 22nd. The shares were bought at an average price of $2.20 per share, with a total value of $220,000.00. Following the completion of the acquisition, the chief operating officer now directly owns 763,825 shares of the company's stock, valued at $1,680,415. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Porch Group news, COO Matthew Neagle acquired 100,000 shares of the company's stock in a transaction dated Monday, August 22nd. The stock was bought at an average price of $2.20 per share, with a total value of $220,000.00. Following the completion of the transaction, the chief operating officer now directly owns 763,825 shares of the company's stock, valued at $1,680,415. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Sean Davis Kell acquired 16,100 shares of the company's stock in a transaction dated Friday, August 12th. The stock was acquired at an average cost of $3.13 per share, with a total value of $50,393.00. Following the transaction, the director now directly owns 55,840 shares of the company's stock, valued at $174,779.20. The disclosure for this purchase can be found here. Insiders own 18.64% of the company's stock.

About Porch Group

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Porch Group, Inc operates a software platform in the United States and Canada. The company operates through two segments, Vertical Software and Insurance. The Vertical Software segment provides software and services to home services companies and gives early access to homebuyers and homeowners. It offers services to home services companies, such as home inspectors, consumers, such as homebuyers and homeowners, service providers, such as moving, insurance, warranty, and security companies, and TV/Internet providers.

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