Alpine Global Management LLC bought a new position in Porch Group, Inc. (NASDAQ:PRCH – Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 10,000 shares of the company’s stock, valued at approximately $43,000.
A number of other institutional investors have also added to or reduced their stakes in the company. Lazard Asset Management LLC bought a new stake in Porch Group during the first quarter worth about $525,000. Natixis purchased a new position in shares of Porch Group during the 1st quarter valued at about $3,906,000. Susquehanna Fundamental Investments LLC bought a new stake in Porch Group in the 1st quarter worth approximately $120,000. Wedmont Private Capital purchased a new stake in Porch Group in the first quarter worth approximately $215,000. Finally, Quadrature Capital Ltd bought a new position in Porch Group during the fourth quarter valued at approximately $189,000. Institutional investors own 48.48% of the company’s stock.
Porch Group Price Performance
Shares of Porch Group stock traded up $0.17 during midday trading on Friday, reaching $2.11. 943,738 shares of the company’s stock traded hands, compared to its average volume of 1,570,442. The stock has a 50 day moving average of $1.88 and a 200-day moving average of $2.74. Porch Group, Inc. has a 12 month low of $0.50 and a 12 month high of $4.78.
Wall Street Analysts Forecast Growth
A number of brokerages recently commented on PRCH. Cantor Fitzgerald lifted their target price on shares of Porch Group from $3.00 to $5.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 3rd. Stephens reissued an “overweight” rating and issued a $6.00 target price on shares of Porch Group in a research note on Thursday, April 11th. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and set a $3.75 price target on shares of Porch Group in a research report on Tuesday, July 2nd.
Check Out Our Latest Research Report on PRCH
Insider Buying and Selling
In other Porch Group news, CFO Shawn Tabak sold 15,000 shares of Porch Group stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $2.02, for a total transaction of $30,300.00. Following the sale, the chief financial officer now directly owns 295,142 shares of the company’s stock, valued at approximately $596,186.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 23.46% of the stock is owned by insiders.
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.
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