Capital Advisors Inc. OK Makes New Investment in Porch Group, Inc. (NASDAQ:PRCH)

Capital Advisors Inc. OK purchased a new position in shares of Porch Group, Inc. (NASDAQ:PRCH) during the fourth quarter, Holdings Channel reports. The firm purchased 75,445 shares of the company’s stock, valued at approximately $232,000.

A number of other hedge funds also recently bought and sold shares of the business. JPMorgan Chase & Co. raised its holdings in shares of Porch Group by 1.3% during the first quarter. JPMorgan Chase & Co. now owns 497,530 shares of the company’s stock valued at $3,454,000 after acquiring an additional 6,377 shares during the last quarter. Graham Capital Management L.P. acquired a new position in shares of Porch Group during the first quarter valued at approximately $69,000. LPL Financial LLC raised its holdings in shares of Porch Group by 36.4% during the second quarter. LPL Financial LLC now owns 40,550 shares of the company’s stock valued at $56,000 after acquiring an additional 10,827 shares during the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of Porch Group by 38.2% during the second quarter. Envestnet Asset Management Inc. now owns 39,430 shares of the company’s stock valued at $101,000 after acquiring an additional 10,904 shares during the last quarter. Finally, Centiva Capital LP acquired a new position in shares of Porch Group during the second quarter valued at approximately $29,000. Hedge funds and other institutional investors own 48.48% of the company’s stock.

Insiders Place Their Bets

In other Porch Group news, CFO Shawn Tabak sold 19,040 shares of the firm’s stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $4.04, for a total transaction of $76,921.60. Following the completion of the sale, the chief financial officer now owns 292,311 shares of the company’s stock, valued at $1,180,936.44. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 20.95% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Cantor Fitzgerald increased their target price on Porch Group from $3.00 to $5.00 and gave the company an “overweight” rating in a report on Wednesday, April 3rd. Stephens reissued an “overweight” rating and set a $6.00 target price on shares of Porch Group in a report on Thursday. Finally, Keefe, Bruyette & Woods increased their target price on Porch Group from $3.50 to $3.75 and gave the company a “market perform” rating in a report on Friday, March 22nd.

Porch Group Stock Down 11.4 %

NASDAQ:PRCH opened at $3.67 on Monday. Porch Group, Inc. has a one year low of $0.50 and a one year high of $4.78. The stock has a 50 day moving average price of $3.46 and a 200 day moving average price of $2.34.

Porch Group (NASDAQ:PRCH) last posted its earnings results on Thursday, March 7th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.19) by $0.13. The company had revenue of $114.61 million during the quarter, compared to analysts’ expectations of $99.60 million. Porch Group had a negative return on equity of 1,182.09% and a negative net margin of 31.12%. During the same quarter last year, the firm earned ($0.32) earnings per share. As a group, equities analysts forecast that Porch Group, Inc. will post -0.83 earnings per share for the current fiscal year.

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.