Coldstream Capital Management Inc. acquired a new stake in Porch Group, Inc. (NASDAQ:PRCH – Get Rating) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 13,688 shares of the company's stock, valued at approximately $95,000.
A number of other institutional investors also recently bought and sold shares of the business. Rhumbline Advisers increased its stake in Porch Group by 1.5% in the fourth quarter. Rhumbline Advisers now owns 75,500 shares of the company's stock valued at $1,177,000 after purchasing an additional 1,148 shares during the period. 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. JPMorgan Chase & Co. boosted its holdings in shares of 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 acquiring an additional 6,377 shares in the last quarter. Hardy Reed LLC purchased a new stake in shares of Porch Group in the first quarter valued at about $45,000. Finally, Stephens Inc. AR boosted its holdings in shares of Porch Group by 3.7% in the fourth quarter. Stephens Inc. AR now owns 208,438 shares of the company's stock valued at $3,250,000 after acquiring an additional 7,414 shares in the last quarter. 98.11% of the stock is currently owned by institutional investors and hedge funds.
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Porch Group Stock Performance
Shares of PRCH opened at $2.35 on Monday. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 2.09. The stock has a market cap of $230.62 million, a P/E ratio of -3.56 and a beta of 1.06. The company has a 50-day moving average of $2.51 and a two-hundred day moving average of $4.53. Porch Group, Inc. has a 12-month low of $1.80 and a 12-month high of $27.50.
Analyst Upgrades and Downgrades
Several analysts have recently weighed in on the stock. Cantor Fitzgerald assumed coverage on shares of Porch Group in a report on Wednesday, August 10th. They issued an "overweight" rating and a $8.00 target price on the stock. JPMorgan Chase & Co. assumed coverage on shares of Porch Group in a report on Monday, May 23rd. They issued an "overweight" rating and a $8.00 target price on the stock. Keefe, Bruyette & Woods reaffirmed a "downgrade" rating on shares of Porch Group in a report on Monday, July 25th. Wedbush lowered their target price on shares of Porch Group from $13.00 to $8.00 in a report on Wednesday, May 11th. Finally, Craig Hallum decreased their price objective on shares of Porch Group from $13.00 to $8.00 in a report on Wednesday, May 11th. Twelve equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $16.90.
Insiders Place Their Bets
In other Porch Group news, COO Matthew Neagle bought 100,000 shares of the business's stock in a transaction on Monday, August 22nd. The stock was bought at an average price of $2.20 per share, for a total transaction of $220,000.00. Following the completion of the transaction, the chief operating officer now owns 763,825 shares in the company, valued at approximately $1,680,415. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Sean Davis Kell acquired 16,100 shares of the business's stock in a transaction dated Friday, August 12th. The stock was acquired at an average price of $3.13 per share, with a total value of $50,393.00. Following the completion of the transaction, the director now directly owns 55,840 shares in the company, valued at approximately $174,779.20. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Matthew Neagle acquired 100,000 shares of the business's stock in a transaction dated Monday, August 22nd. The stock was purchased at an average cost of $2.20 per share, with a total value of $220,000.00. Following the transaction, the chief operating officer now owns 763,825 shares of the company's stock, valued at $1,680,415. The disclosure for this purchase can be found here. 18.64% of the stock is currently owned by company insiders.
Porch Group Company Profile
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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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