Harbor Capital Advisors Inc. Reduces Stock Holdings in Porch Group, Inc. (NASDAQ:PRCH)

Harbor Capital Advisors Inc. cut its holdings in Porch Group, Inc. (NASDAQ:PRCH) by 32.4% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 2,552,612 shares of the company’s stock after selling 1,222,297 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in Porch Group were worth $12,559,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in PRCH. GAMMA Investing LLC purchased a new stake in shares of Porch Group in the fourth quarter valued at about $50,000. Zacks Investment Management acquired a new position in shares of Porch Group during the 3rd quarter worth approximately $32,000. Caprock Group LLC purchased a new stake in Porch Group in the 3rd quarter valued at approximately $37,000. Mackenzie Financial Corp grew its holdings in Porch Group by 102.4% during the 2nd quarter. Mackenzie Financial Corp now owns 23,908 shares of the company’s stock valued at $36,000 after buying an additional 12,097 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new position in Porch Group during the third quarter worth $42,000. 48.48% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently issued reports on PRCH shares. Benchmark restated a “buy” rating and issued a $7.00 price objective on shares of Porch Group in a research report on Tuesday, October 29th. Stephens raised their price target on shares of Porch Group from $4.00 to $5.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. 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. Craig Hallum upped their target price on Porch Group from $4.00 to $8.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Finally, Oppenheimer raised their price target on Porch Group from $4.00 to $7.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. Two analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $5.34.

Insider Buying and Selling

In related news, CFO Shawn Tabak sold 21,774 shares of the company’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $6.00, for a total transaction of $130,644.00. Following the completion of the sale, the chief financial officer now directly owns 287,839 shares of the company’s stock, valued at approximately $1,727,034. This represents a 7.03 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 23.46% of the company’s stock.

Porch Group Trading Down 3.6 %

NASDAQ:PRCH traded down $0.17 on Friday, hitting $4.51. 545,943 shares of the stock were exchanged, compared to its average volume of 1,598,240. The stock has a fifty day moving average of $4.28 and a 200-day moving average of $2.51. The stock has a market cap of $539.14 million, a PE ratio of -6.44 and a beta of 2.05. Porch Group, Inc. has a fifty-two week low of $1.05 and a fifty-two week high of $6.03.

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.