Porch Group, Inc. (NASDAQ:PRCH) Shares Sold by Fidelity National Financial Inc.

Fidelity National Financial Inc. lowered its position in Porch Group, Inc. (NASDAQ:PRCH) by 17.9% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 3,470,980 shares of the company’s stock after selling 759,154 shares during the period. Porch Group accounts for approximately 0.1% of Fidelity National Financial Inc.’s portfolio, making the stock its 19th biggest holding. Fidelity National Financial Inc. owned approximately 3.50% of Porch Group worth $5,241,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Harbor Capital Advisors Inc. purchased a new stake in shares of Porch Group in the second quarter valued at approximately $1,989,000. Acadian Asset Management LLC increased its stake in shares of Porch Group by 444.5% in the 2nd quarter. Acadian Asset Management LLC now owns 1,571,003 shares of the company’s stock worth $2,369,000 after acquiring an additional 1,282,500 shares during the last quarter. Granahan Investment Management LLC raised its holdings in shares of Porch Group by 12.0% during the 4th quarter. Granahan Investment Management LLC now owns 11,890,749 shares of the company’s stock worth $36,624,000 after acquiring an additional 1,278,208 shares during the period. Natixis acquired a new position in shares of Porch Group during the 1st quarter valued at about $3,906,000. Finally, CastleKnight Management LP purchased a new stake in shares of Porch Group in the fourth quarter valued at about $631,000. Institutional investors and hedge funds own 48.48% of the company’s stock.

Porch Group Trading Up 5.5 %

PRCH stock opened at $1.34 on Friday. The business’s fifty day moving average price is $1.57 and its 200 day moving average price is $2.45. Porch Group, Inc. has a 12-month low of $0.50 and a 12-month high of $4.78. The company has a market capitalization of $159.15 million, a PE ratio of -1.18 and a beta of 2.04.

Porch Group (NASDAQ:PRCH) last issued its quarterly earnings results on Tuesday, August 6th. The company reported ($0.65) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.58) by ($0.07). The firm had revenue of $110.84 million for the quarter, compared to analyst estimates of $117.91 million. During the same quarter in the previous year, the company earned ($0.73) earnings per share. Research analysts predict that Porch Group, Inc. will post -0.76 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on PRCH. Craig Hallum decreased their target price on shares of Porch Group from $5.00 to $3.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Benchmark decreased their price objective on Porch Group from $10.00 to $7.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Keefe, Bruyette & Woods cut their target price on Porch Group from $3.75 to $1.50 and set a “market perform” rating for the company in a research note on Thursday, August 8th. Northland Securities decreased their price target on Porch Group from $5.00 to $3.25 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. Finally, Oppenheimer cut their price objective on Porch Group from $4.50 to $3.50 and set an “outperform” rating for the company in a research report on Thursday, August 8th. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Porch Group currently has an average rating of “Buy” and an average price target of $4.18.

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.