Just caught that Keefe, Bruyette & Woods upgraded Porch Group to Outperform in February. They're seeing 143% upside from current levels - average price target sitting around $18 versus the $7.39 close. Revenue projections looking solid too, up 11.62% year over year.

What caught my eye though is the fund activity. There's 312 institutions holding PRCH positions, and while the count dropped slightly last quarter, the interesting part is how some major players repositioned. Invesco basically tripled their allocation - went from 692K to 3.8M shares. Granahan trimmed their stake but actually increased portfolio weight. A few others like Gilder Gagnon and Driehaus also bumped up their allocations despite mixed share movements.

That said, the put/call ratio is sitting at 1.06, which suggests traders are still hedged. So while the institutional money seems cautiously constructive on Porch, options market isn't fully convinced yet. Interesting divergence to watch.