Granite Investment Partners LLC Takes $95,000 Position in Porch Group, Inc. (NASDAQ:PRCH)

Granite Investment Partners LLC bought a new position in Porch Group, Inc. (NASDAQ:PRCH) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 19,243 shares of the company’s stock, valued at approximately $95,000.

Other large investors have also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC lifted its stake in shares of Porch Group by 5,776.1% in the fourth quarter. Nisa Investment Advisors LLC now owns 6,640 shares of the company’s stock worth $33,000 after buying an additional 6,527 shares during the last quarter. Jones Financial Companies Lllp bought a new position in Porch Group in the 4th quarter worth $35,000. Rik Saylor Financial Inc. acquired a new position in Porch Group during the 4th quarter worth $49,000. GAMMA Investing LLC bought a new stake in Porch Group during the fourth quarter valued at about $50,000. Finally, Raymond James Financial Inc. acquired a new stake in shares of Porch Group in the fourth quarter valued at about $50,000. Institutional investors own 48.48% of the company’s stock.

Wall Street Analyst Weigh In

PRCH has been the subject of several research analyst reports. Benchmark boosted their price objective on Porch Group from $7.00 to $10.00 and gave the stock a “buy” rating in a research report on Wednesday, February 26th. Keefe, Bruyette & Woods increased their price objective on Porch Group from $3.50 to $6.00 and gave the company a “market perform” rating in a research report on Monday, March 3rd. Oppenheimer boosted their target price on shares of Porch Group from $7.00 to $8.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 26th. Loop Capital raised shares of Porch Group from a “hold” rating to a “buy” rating and set a $6.00 price target for the company in a report on Wednesday, February 26th. Finally, Stephens boosted their price objective on shares of Porch Group from $8.00 to $10.00 and gave the stock an “overweight” rating in a report on Friday, March 21st. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $7.32.

Insider Activity

In other Porch Group news, COO Matthew Neagle sold 27,328 shares of Porch Group stock in a transaction on Monday, March 24th. The stock was sold at an average price of $6.99, for a total transaction of $191,022.72. Following the completion of the transaction, the chief operating officer now directly owns 1,356,729 shares of the company’s stock, valued at approximately $9,483,535.71. This trade represents a 1.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Shawn Tabak sold 108,226 shares of the business’s stock in a transaction 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 completion of the sale, the chief financial officer now owns 179,613 shares in the company, valued at $1,086,658.65. This represents a 37.60 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 195,554 shares of company stock worth $1,220,190. Corporate insiders own 23.46% of the company’s stock.

Porch Group Price Performance

Shares of Porch Group stock opened at $5.47 on Monday. Porch Group, Inc. has a 52-week low of $1.05 and a 52-week high of $8.49. The firm has a market capitalization of $656.75 million, a PE ratio of -7.81 and a beta of 2.15. The company’s fifty day moving average price is $5.87 and its two-hundred day moving average price is $4.39.

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.