Mirador Capital Partners LP Sells 54,177 Shares of Porch Group, Inc. (NASDAQ:PRCH)

Mirador Capital Partners LP lessened its position in shares of Porch Group, Inc. (NASDAQ:PRCH) by 56.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 42,542 shares of the company’s stock after selling 54,177 shares during the period. Mirador Capital Partners LP’s holdings in Porch Group were worth $209,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Bank of New York Mellon Corp grew its holdings in Porch Group by 19.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 493,730 shares of the company’s stock worth $746,000 after acquiring an additional 78,892 shares during the period. Rhumbline Advisers bought a new stake in shares of Porch Group during the 2nd quarter valued at about $99,000. Citizens Financial Group Inc. RI acquired a new stake in Porch Group during the second quarter worth approximately $264,000. Renaissance Technologies LLC increased its holdings in 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 purchasing an additional 763,800 shares in the last quarter. Finally, XTX Topco Ltd increased its holdings in Porch Group by 178.4% in the second quarter. XTX Topco Ltd now owns 83,756 shares of the company’s stock worth $126,000 after purchasing an additional 53,667 shares in the last quarter. Institutional investors and hedge funds own 48.48% of the company’s stock.

Porch Group Price Performance

NASDAQ:PRCH opened at $4.75 on Friday. Porch Group, Inc. has a one year low of $1.05 and a one year high of $6.03. The firm has a 50-day moving average of $4.47 and a 200-day moving average of $2.60.

Insiders Place Their Bets

In other 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 owns 278,298 shares in the company, valued at $556,596. This trade represents a 5.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 23.46% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.