Harbor Capital Advisors Inc. Decreases Stock Holdings in Porch Group, Inc. (NASDAQ:PRCH)

Harbor Capital Advisors Inc. lowered its position in shares of Porch Group, Inc. (NASDAQ:PRCH) by 32.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,552,612 shares of the company’s stock after selling 1,222,297 shares during the period. Harbor Capital Advisors Inc. owned 2.14% of Porch Group worth $12,559,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Bank of New York Mellon Corp boosted its position in shares of Porch Group by 19.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 493,730 shares of the company’s stock worth $746,000 after acquiring an additional 78,892 shares in the last quarter. Rhumbline Advisers acquired a new position in Porch Group in the second quarter valued at approximately $99,000. Acadian Asset Management LLC raised its holdings in Porch Group by 444.5% during the second quarter. Acadian Asset Management LLC now owns 1,571,003 shares of the company’s stock worth $2,369,000 after purchasing an additional 1,282,500 shares in the last quarter. Citizens Financial Group Inc. RI purchased a new stake in shares of Porch Group during the 2nd quarter worth approximately $264,000. Finally, Renaissance Technologies LLC boosted its holdings 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 valued at $3,299,000 after buying an additional 763,800 shares in the last quarter. Hedge funds and other institutional investors own 48.48% of the company’s stock.

Insider Buying and Selling

In other Porch Group news, CFO Shawn Tabak sold 21,774 shares of the stock in a transaction dated Monday, December 16th. The shares were 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 of the company’s stock, valued at approximately $1,727,034. This trade represents a 7.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 23.46% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on PRCH shares. Craig Hallum lifted their price target 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 lifted their target price on Porch Group from $4.00 to $5.00 and gave the stock an “overweight” rating in a research report on Monday, November 11th. Loop Capital reissued a “hold” rating and issued a $6.00 target price on shares of Porch Group in a report on Monday, December 9th. Benchmark restated a “buy” rating and set a $7.00 price target on shares of Porch Group in a research note on Tuesday, October 29th. Finally, Oppenheimer boosted their price objective on Porch Group from $4.00 to $7.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. Two research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $5.34.

Porch Group Price Performance

Shares of NASDAQ:PRCH traded down $0.17 during trading on Friday, reaching $4.51. The company had a trading volume of 545,943 shares, compared to its average volume of 1,598,240. The firm has a market capitalization of $539.14 million, a price-to-earnings ratio of -6.44 and a beta of 2.05. Porch Group, Inc. has a fifty-two week low of $1.05 and a fifty-two week high of $6.03. The stock’s fifty day moving average price is $4.28 and its 200 day moving average price is $2.51.

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.