Bank of Montreal Can Grows Stock Holdings in Porch Group, Inc. (NASDAQ:PRCH)

Bank of Montreal Can lifted its stake in Porch Group, Inc. (NASDAQ:PRCH) by 142.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 337,877 shares of the company’s stock after acquiring an additional 198,649 shares during the period. Bank of Montreal Can owned approximately 0.28% of Porch Group worth $1,662,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the stock. Arrowstreet Capital Limited Partnership purchased a new position in Porch Group during the 4th quarter valued at about $176,000. Franklin Resources Inc. purchased a new position in Porch Group during the third quarter valued at approximately $238,000. Barclays PLC increased its holdings in Porch Group by 415.5% during the 3rd quarter. Barclays PLC now owns 134,919 shares of the company’s stock worth $207,000 after acquiring an additional 108,748 shares during the period. Geode Capital Management LLC lifted its stake in Porch Group by 8.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,987,881 shares of the company’s stock worth $3,052,000 after purchasing an additional 163,133 shares in the last quarter. Finally, State Street Corp boosted its holdings in Porch Group by 7.4% in the 3rd quarter. State Street Corp now owns 1,667,493 shares of the company’s stock valued at $2,560,000 after purchasing an additional 115,176 shares during the period. 48.48% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Oppenheimer increased their price objective on Porch Group from $7.00 to $8.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 26th. Benchmark boosted their price objective on Porch Group from $7.00 to $10.00 and gave the stock a “buy” rating in a 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 target price on the stock in a research note on Wednesday, February 26th. Stephens increased their price target 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. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Porch Group from $3.50 to $6.00 and gave the stock a “market perform” rating in a report on Monday, March 3rd. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $7.32.

Porch Group Stock Performance

PRCH stock opened at $5.29 on Friday. The firm has a market cap of $635.14 million, a P/E ratio of -7.56 and a beta of 2.15. The firm’s fifty day moving average is $5.94 and its 200 day moving average is $4.45. Porch Group, Inc. has a 52 week low of $1.05 and a 52 week high of $8.49.

Insider Activity

In other Porch Group news, COO Matthew Neagle sold 27,328 shares of the firm’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $6.99, for a total value of $191,022.72. Following the sale, the chief operating officer now owns 1,356,729 shares of the company’s stock, valued at $9,483,535.71. This trade represents a 1.97 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Shawn Tabak sold 108,226 shares of the company’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $6.05, for a total transaction of $654,767.30. Following the transaction, the chief financial officer now directly owns 179,613 shares of the company’s stock, valued at approximately $1,086,658.65. This trade represents a 37.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 205,554 shares of company stock valued at $1,273,590. 23.46% of the stock is currently owned by insiders.

Porch Group Company 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.