Jane Street Group LLC Reduces Stock Position in Porch Group, Inc. (NASDAQ:PRCH)

Jane Street Group LLC cut its stake in Porch Group, Inc. (NASDAQ:PRCH) by 47.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 35,266 shares of the company’s stock after selling 32,281 shares during the quarter. Jane Street Group LLC’s holdings in Porch Group were worth $54,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Harbor Capital Advisors Inc. raised its holdings in Porch Group by 186.6% in the third quarter. Harbor Capital Advisors Inc. now owns 3,774,909 shares of the company’s stock worth $5,794,000 after buying an additional 2,457,915 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Porch Group by 53.8% in the second quarter. Renaissance Technologies LLC now owns 2,184,500 shares of the company’s stock worth $3,299,000 after buying an additional 763,800 shares in the last quarter. GSA Capital Partners LLP raised its stake in Porch Group by 223.4% during the third quarter. GSA Capital Partners LLP now owns 1,532,616 shares of the company’s stock valued at $2,353,000 after purchasing an additional 1,058,653 shares in the last quarter. Citizens Financial Group Inc. RI raised its stake in shares of Porch Group by 128.6% in the third quarter. Citizens Financial Group Inc. RI now owns 400,000 shares of the company’s stock valued at $614,000 after acquiring an additional 225,000 shares during the period. Finally, State Street Corp grew its holdings in shares of Porch Group by 7.4% in the third quarter. State Street Corp now owns 1,667,493 shares of the company’s stock worth $2,560,000 after purchasing an additional 115,176 shares during the last quarter. 48.48% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on PRCH shares. Loop Capital reiterated a “hold” rating and set a $6.00 target price on shares of Porch Group in a report on Monday, December 9th. Benchmark reaffirmed a “buy” rating and set a $7.00 target price on shares of Porch Group in a research note on Tuesday, October 29th. Craig Hallum lifted their target price on Porch Group from $4.00 to $8.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Oppenheimer upped their price target on Porch Group from $4.00 to $7.00 and gave the company an “outperform” rating in a report on Monday, December 9th. Finally, Stephens boosted their price objective on Porch Group from $4.00 to $5.00 and gave the company an “overweight” rating in a research note on Monday, November 11th. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Porch Group has a consensus rating of “Moderate Buy” and a consensus target price of $5.34.

Porch Group Trading Up 7.2 %

NASDAQ PRCH opened at $4.78 on Thursday. The business’s 50-day moving average price is $4.42 and its 200 day moving average price is $2.58. Porch Group, Inc. has a twelve month low of $1.05 and a twelve month high of $6.03. The company has a market capitalization of $571.42 million, a PE ratio of -6.83 and a beta of 2.05.

Insider Buying and Selling

In other news, CFO Shawn Tabak sold 21,774 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $6.00, for a total value of $130,644.00. Following the transaction, the chief financial officer now directly owns 287,839 shares in the company, valued at $1,727,034. This trade represents a 7.03 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 23.46% of the stock is currently owned by company insiders.

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.