10,000 Shares in Porch Group, Inc. (NASDAQ:PRCH) Bought by Alpine Global Management LLC

Alpine Global Management LLC purchased a new position in Porch Group, Inc. (NASDAQ:PRCH) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 10,000 shares of the company’s stock, valued at approximately $43,000.

A number of other hedge funds have also made changes to their positions in the stock. Lazard Asset Management LLC acquired a new position in Porch Group during the first quarter valued at approximately $525,000. Natixis acquired a new position in shares of Porch Group during the 1st quarter worth about $3,906,000. Susquehanna Fundamental Investments LLC bought a new stake in Porch Group during the 1st quarter valued at approximately $120,000. Wedmont Private Capital acquired a new stake in Porch Group in the 1st quarter valued at approximately $215,000. Finally, Quadrature Capital Ltd bought a new position in Porch Group in the 4th quarter worth approximately $189,000. Institutional investors and hedge funds own 48.48% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Shawn Tabak sold 15,000 shares of the company’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $2.02, for a total value of $30,300.00. Following the completion of the sale, the chief financial officer now owns 295,142 shares in the company, valued at $596,186.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 23.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Cantor Fitzgerald raised their price objective on shares of Porch Group from $3.00 to $5.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 3rd. Stephens reissued an “overweight” rating and set a $6.00 target price on shares of Porch Group in a research report on Thursday, April 11th. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and set a $3.75 price target on shares of Porch Group in a research note on Tuesday, July 2nd.

Porch Group Stock Performance

NASDAQ:PRCH traded up $0.17 during mid-day trading on Friday, hitting $2.11. The company’s stock had a trading volume of 943,738 shares, compared to its average volume of 1,570,442. The stock has a fifty day moving average of $1.88 and a 200-day moving average of $2.74. Porch Group, Inc. has a fifty-two week low of $0.50 and a fifty-two week high of $4.78.

Porch Group (NASDAQ:PRCH) last announced its quarterly earnings results on Wednesday, May 8th. The company reported ($0.21) EPS for the quarter, beating the consensus estimate of ($0.33) by $0.12. The company had revenue of $115.44 million during the quarter, compared to analyst estimates of $102.60 million. Research analysts anticipate that Porch Group, Inc. will post -0.65 earnings per share for the current fiscal year.

About Porch Group

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.