Point72 Asset Management established new holdings in Porch Group, Inc.

Point72 Asset Management established new holdings in Porch Group, Inc.

© Reuters.  Point72 Asset Management established new holdings in Porch Group, Inc. © Reuters. Point72 Asset Management established new holdings in Porch Group, Inc.

On the 14th of December, Point72 Asset Management purchased 1.1 million Porch Group, Inc. (PRCH) shares for $14 million at an average price of $12.27 per share. Shares of Porch Group, Inc. are up 8.48% since the transaction.

Point72 Asset Management's holding in Porch Group, Inc. established a new holding of about 1.1 million shares with the purchase.

Point72 Asset Management first bought Porch Group, Inc. stock in the third quarter of 2020. Point72 Asset Management also owns Open Lending Corporation (LPRO), BlackStone Group LP (BX), Cboe Global Markets, Inc. (NYSE:CBOE) and Virtus Investment Partners, Inc (NASDAQ:VRTS). Porch Group, Inc. is its number four position by number of shares and market value among corporate finance stocks.

Other investors who also introduced PRCH shares to their portfolio include William Blair Investment Management. Contrary to Point72 Asset Management, Millennium Management reduced PRCH shares.

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