Alpha Cubed Investments LLC Buys New Shares in Porch Group, Inc. (NASDAQ:PRCH)

Alpha Cubed Investments LLC purchased a new position in Porch Group, Inc. (NASDAQ:PRCH) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 28,500 shares of the company’s stock, valued at approximately $88,000.

Other institutional investors have also bought and sold shares of the company. AE Wealth Management LLC bought a new position in shares of Porch Group during the third quarter worth $157,000. Bank of New York Mellon Corp grew its holdings in Porch Group by 83.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 169,536 shares of the company’s stock valued at $136,000 after buying an additional 77,094 shares in the last quarter. Viewpoint Capital Management LLC increased its stake in Porch Group by 15.7% in the 3rd quarter. Viewpoint Capital Management LLC now owns 147,000 shares of the company’s stock worth $118,000 after acquiring an additional 20,000 shares during the last quarter. Fidelity National Financial Inc. purchased a new stake in shares of Porch Group during the 3rd quarter worth approximately $3,772,000. Finally, Acadian Asset Management LLC boosted its position in shares of Porch Group by 28.1% during the 3rd quarter. Acadian Asset Management LLC now owns 68,870 shares of the company’s stock valued at $54,000 after acquiring an additional 15,101 shares during the last quarter. 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 company’s stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $4.04, for a total value of $76,921.60. Following the transaction, the chief financial officer now directly owns 292,311 shares in the company, valued at approximately $1,180,936.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 20.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on PRCH. Stephens restated an “overweight” rating and issued a $6.00 price target on shares of Porch Group in a research report on Thursday, April 11th. Cantor Fitzgerald upped their target price on shares of Porch Group from $3.00 to $5.00 and gave the company an “overweight” rating in a research report on Wednesday, April 3rd. Finally, Keefe, Bruyette & Woods lifted their price target on Porch Group from $3.50 to $3.75 and gave the stock a “market perform” rating in a research report on Friday, March 22nd.

Porch Group Price Performance

Shares of PRCH opened at $3.26 on Thursday. Porch Group, Inc. has a twelve month low of $0.50 and a twelve month high of $4.78. The company’s fifty day simple moving average is $3.61 and its 200-day simple moving average is $2.56.

Porch Group (NASDAQ:PRCH) last released its earnings results on Thursday, March 7th. The company reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.13. Porch Group had a negative return on equity of 1,182.09% and a negative net margin of 31.12%. The firm had revenue of $114.61 million for the quarter, compared to analysts’ expectations of $99.60 million. During the same quarter in the prior year, the firm posted ($0.32) earnings per share. On average, research analysts expect that Porch Group, Inc. will post -0.83 earnings per share for the current 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.