D.A. Davidson & CO. Takes $810,000 Position in Porch Group, Inc. (NASDAQ:PRCH)

D.A. Davidson & CO. bought a new stake in Porch Group, Inc. (NASDAQ:PRCH) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 164,671 shares of the company’s stock, valued at approximately $810,000. D.A. Davidson & CO. owned approximately 0.14% of Porch Group as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in PRCH. Harbor Capital Advisors Inc. raised its holdings in shares of Porch Group by 186.6% in the third quarter. Harbor Capital Advisors Inc. now owns 3,774,909 shares of the company’s stock valued at $5,794,000 after buying an additional 2,457,915 shares during the last quarter. Franklin Resources Inc. bought a new position in shares of Porch Group in the third quarter valued at about $238,000. Barclays PLC raised its holdings in shares of Porch Group by 415.5% in the third quarter. Barclays PLC now owns 134,919 shares of the company’s stock valued at $207,000 after buying an additional 108,748 shares during the last quarter. GSA Capital Partners LLP raised its holdings in shares of Porch Group by 223.4% in the third 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 during the last quarter. Finally, Citizens Financial Group Inc. RI raised its holdings in shares of Porch Group by 128.6% in the third quarter. Citizens Financial Group Inc. RI now owns 400,000 shares of the company’s stock valued at $614,000 after buying an additional 225,000 shares during the last quarter. Institutional investors and hedge funds own 48.48% of the company’s stock.

Porch Group Stock Performance

Shares of PRCH opened at $3.93 on Tuesday. The stock has a 50 day simple moving average of $4.77 and a 200 day simple moving average of $3.14. Porch Group, Inc. has a 52-week low of $1.05 and a 52-week high of $6.03. The firm has a market capitalization of $469.79 million, a PE ratio of -5.61 and a beta of 2.03.

Insider Activity at Porch Group

In related 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 transaction, the chief financial officer now directly owns 287,839 shares in the company, valued at approximately $1,727,034. The trade was a 7.03 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 23.46% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

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

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.