160,689 Shares in Porch Group, Inc. (NASDAQ:PRCH) Acquired by Franklin Resources Inc.

Franklin Resources Inc. purchased a new position in shares of Porch Group, Inc. (NASDAQ:PRCH) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 160,689 shares of the company’s stock, valued at approximately $238,000. Franklin Resources Inc. owned about 0.13% of Porch Group as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of PRCH. Zacks Investment Management acquired a new position in shares of Porch Group during the third quarter worth about $32,000. Mackenzie Financial Corp lifted its position in Porch Group by 102.4% during the 2nd quarter. Mackenzie Financial Corp now owns 23,908 shares of the company’s stock worth $36,000 after acquiring an additional 12,097 shares in the last quarter. Caprock Group LLC acquired a new position in Porch Group during the 3rd quarter worth approximately $37,000. SG Americas Securities LLC purchased a new position in Porch Group in the 3rd quarter worth approximately $42,000. Finally, Los Angeles Capital Management LLC acquired a new stake in Porch Group in the third quarter valued at approximately $46,000. Hedge funds and other institutional investors own 48.48% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on PRCH. Loop Capital reissued a “hold” rating and issued a $6.00 price objective on shares of Porch Group in a research report on Monday, December 9th. Oppenheimer raised 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. Benchmark reaffirmed a “buy” rating and issued a $7.00 target price on shares of Porch Group in a research report on Tuesday, October 29th. Craig Hallum raised their price target on shares of Porch Group from $4.00 to $8.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Finally, Stephens upped their price target on shares of Porch Group from $4.00 to $5.00 and gave the company an “overweight” rating in a report on Monday, November 11th. Two research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $5.34.

Insider Buying and Selling at Porch Group

In related news, CFO Shawn Tabak sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $2.00, for a total value of $30,000.00. Following the transaction, the chief financial officer now directly owns 278,298 shares of the company’s stock, valued at approximately $556,596. This trade represents a 5.11 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 23.46% of the company’s stock.

Porch Group Stock Down 9.4 %

Shares of NASDAQ:PRCH opened at $4.92 on Thursday. The company’s fifty day moving average is $3.84 and its two-hundred day moving average is $2.35. The company has a market cap of $588.16 million, a P/E ratio of -7.03 and a beta of 2.14. Porch Group, Inc. has a 12-month low of $1.05 and a 12-month high of $6.03.

Porch Group 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.