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

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

Other large investors have also recently bought and sold shares of the company. Invesco Ltd. increased its stake in shares of Porch Group by 4,365.6% in the 4th quarter. Invesco Ltd. now owns 1,682,286 shares of the company’s stock valued at $8,277,000 after buying an additional 1,644,614 shares during the period. Vanguard Group Inc. increased its position in Porch Group by 24.9% in the fourth quarter. Vanguard Group Inc. now owns 5,511,591 shares of the company’s stock worth $27,117,000 after purchasing an additional 1,100,224 shares during the period. JPMorgan Chase & Co. raised its holdings in Porch Group by 225.1% during the 4th quarter. JPMorgan Chase & Co. now owns 730,340 shares of the company’s stock worth $3,593,000 after purchasing an additional 505,660 shares during the last quarter. Thompson Siegel & Walmsley LLC acquired a new position in Porch Group during the 4th quarter valued at about $1,196,000. Finally, Bank of Montreal Can boosted its stake in shares of Porch Group by 142.7% in the 4th quarter. Bank of Montreal Can now owns 337,877 shares of the company’s stock valued at $1,662,000 after purchasing an additional 198,649 shares during the last quarter. Institutional investors and hedge funds own 48.48% of the company’s stock.

Porch Group Stock Up 1.5 %

Shares of PRCH stock opened at $5.47 on Monday. Porch Group, Inc. has a 12-month low of $1.05 and a 12-month high of $8.49. The firm has a fifty day moving average of $5.87 and a 200-day moving average of $4.39. The company has a market capitalization of $656.75 million, a price-to-earnings ratio of -7.81 and a beta of 2.15.

Analyst Ratings Changes

A number of research firms recently weighed in on PRCH. Stephens boosted their price target on shares of Porch Group from $8.00 to $10.00 and gave the stock an “overweight” rating in a research note on Friday, March 21st. Loop Capital upgraded shares of Porch Group from a “hold” rating to a “buy” rating and set a $6.00 target price for the company in a research report on Wednesday, February 26th. Oppenheimer raised their price target on Porch Group from $7.00 to $8.00 and gave the stock an “outperform” rating 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 company a “market perform” rating in a report on Monday, March 3rd. Finally, Benchmark raised their target price on Porch Group from $7.00 to $10.00 and gave the stock a “buy” rating in a report on Wednesday, February 26th. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $7.32.

Insider Transactions at Porch Group

In other news, COO Matthew Neagle sold 27,328 shares of the stock in a transaction dated Monday, March 24th. The shares were 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 in the company, valued at $9,483,535.71. This represents a 1.97 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Shawn Tabak sold 108,226 shares of Porch Group stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $6.05, for a total value of $654,767.30. Following the completion of the sale, the chief financial officer now directly owns 179,613 shares in the company, valued at approximately $1,086,658.65. This represents a 37.60 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 195,554 shares of company stock valued at $1,220,190 in the last ninety days. 23.46% of the stock is currently owned by corporate insiders.

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.