Moody National Bank Trust Division Acquires 45,639 Shares of Porch Group, Inc. (NASDAQ:PRCH)

Moody National Bank Trust Division lifted its holdings in Porch Group, Inc. (NASDAQ:PRCH) by 11.5% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 441,800 shares of the company’s stock after purchasing an additional 45,639 shares during the period. Moody National Bank Trust Division owned about 0.37% of Porch Group worth $2,174,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Harbor Capital Advisors Inc. lifted its holdings in Porch Group by 186.6% during the third quarter. Harbor Capital Advisors Inc. now owns 3,774,909 shares of the company’s stock worth $5,794,000 after buying an additional 2,457,915 shares during the period. Renaissance Technologies LLC raised its position in shares of Porch Group by 53.8% in the 2nd quarter. Renaissance Technologies LLC now owns 2,184,500 shares of the company’s stock worth $3,299,000 after acquiring an additional 763,800 shares in the last quarter. Franklin Resources Inc. purchased a new stake in shares of Porch Group during the 3rd quarter worth $238,000. GSA Capital Partners LLP boosted its holdings in shares of Porch Group by 223.4% in the 3rd quarter. GSA Capital Partners LLP now owns 1,532,616 shares of the company’s stock valued at $2,353,000 after buying an additional 1,058,653 shares in the last quarter. Finally, Citizens Financial Group Inc. RI increased its position in shares of Porch Group by 128.6% during the third quarter. Citizens Financial Group Inc. RI now owns 400,000 shares of the company’s stock worth $614,000 after purchasing an additional 225,000 shares in the last quarter. 48.48% of the stock is currently owned by institutional investors.

Insider Activity at Porch Group

In other news, CFO Shawn Tabak sold 21,774 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $6.00, for a total value of $130,644.00. Following the completion of the sale, the chief financial officer now directly owns 287,839 shares in the company, valued at $1,727,034. The trade was a 7.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 23.46% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Loop Capital reaffirmed a “hold” rating and set a $6.00 target price on shares of Porch Group in a research report on Monday, December 9th. Benchmark reaffirmed a “buy” rating and issued a $7.00 price objective on shares of Porch Group in a research report on Tuesday, October 29th. Craig Hallum lifted their price objective on shares of Porch Group from $4.00 to $8.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Stephens upped their target price on Porch Group from $4.00 to $5.00 and gave the company an “overweight” rating in a research report on Monday, November 11th. Finally, Oppenheimer raised their price objective on Porch Group from $4.00 to $7.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $5.34.

Porch Group Stock Down 0.9 %

Shares of NASDAQ:PRCH traded down $0.04 during trading on Monday, hitting $4.47. 700,917 shares of the stock traded hands, compared to its average volume of 1,551,262. The company has a fifty day moving average price of $4.33 and a two-hundred day moving average price of $2.54. Porch Group, Inc. has a 52-week low of $1.05 and a 52-week high of $6.03. The company has a market cap of $534.36 million, a price-to-earnings ratio of -6.39 and a beta of 2.05.

Porch Group Profile

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.