Porch Group, Inc. (NASDAQ:PRCH) Shares Sold by Citizens Financial Group Inc. RI

Citizens Financial Group Inc. RI trimmed its position in shares of Porch Group, Inc. (NASDAQ:PRCH) by 25.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 300,000 shares of the company’s stock after selling 100,000 shares during the period. Citizens Financial Group Inc. RI’s holdings in Porch Group were worth $1,476,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in PRCH. Zacks Investment Management purchased a new stake in shares of Porch Group during the third quarter worth $32,000. Nisa Investment Advisors LLC increased its position in shares of Porch Group by 5,776.1% during the fourth quarter. Nisa Investment Advisors LLC now owns 6,640 shares of the company’s stock worth $33,000 after acquiring an additional 6,527 shares during the period. Jones Financial Companies Lllp purchased a new stake in shares of Porch Group during the fourth quarter worth $35,000. Caprock Group LLC purchased a new stake in shares of Porch Group during the third quarter worth $37,000. Finally, Los Angeles Capital Management LLC purchased a new stake in shares of Porch Group during the third quarter worth $46,000. 48.48% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Benchmark upped 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. Loop Capital raised Porch Group from a “hold” rating to a “buy” rating and set a $6.00 price objective on the stock in a research report on Wednesday, February 26th. Keefe, Bruyette & Woods upped their price objective on Porch Group from $3.50 to $6.00 and gave the stock a “market perform” rating in a research report on Monday, March 3rd. Craig Hallum increased their target price on Porch Group from $4.00 to $8.00 and gave the company a “buy” rating in a report on Friday, December 6th. Finally, Oppenheimer increased their target price on Porch Group from $7.00 to $8.00 and gave the company an “outperform” rating in a report on Wednesday, February 26th. One equities research 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 data from MarketBeat.com, Porch Group presently has an average rating of “Buy” and a consensus target price of $6.41.

Insiders Place Their Bets

In other Porch Group news, CFO Shawn Tabak sold 108,226 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $6.05, for a total transaction of $654,767.30. Following the transaction, the chief financial officer now 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 23.46% of the company’s stock.

Porch Group Stock Performance

Shares of PRCH stock opened at $5.96 on Thursday. The stock’s 50-day moving average is $5.03 and its two-hundred day moving average is $3.55. The firm has a market cap of $715.58 million, a price-to-earnings ratio of -8.51 and a beta of 2.04. Porch Group, Inc. has a 1 year low of $1.05 and a 1 year high of $7.30.

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.