Porch Group, Inc. (NASDAQ:PRCH) Given Average Rating of "Buy" by Brokerages

Porch Group, Inc. (NASDAQ:PRCH - Get Free Report) has been assigned an average rating of "Buy" from the seven ratings firms that are covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $4.18.

A number of equities analysts recently weighed in on the stock. Keefe, Bruyette & Woods lowered their price objective on shares of Porch Group from $3.75 to $1.50 and set a "market perform" rating on the stock in a research report on Thursday, August 8th. Craig Hallum boosted their price target on shares of Porch Group from $3.00 to $4.00 and gave the stock a "buy" rating in a research note on Tuesday, October 29th. Northland Securities reduced their price objective on shares of Porch Group from $5.00 to $3.25 and set an "outperform" rating for the company in a research report on Wednesday, August 7th. Cantor Fitzgerald upgraded Porch Group to a "strong-buy" rating in a research report on Tuesday, August 13th. Finally, Oppenheimer cut their target price on Porch Group from $4.50 to $3.50 and set an "outperform" rating for the company in a research note on Thursday, August 8th.

Porch Group Price Performance

Shares of PRCH stock traded down $0.13 during midday trading on Friday, hitting $2.98. The company had a trading volume of 1,729,694 shares, compared to its average volume of 1,474,250. The stock has a market cap of $353.94 million, a price-to-earnings ratio of -4.29 and a beta of 1.98. The company's 50 day simple moving average is $1.75 and its 200 day simple moving average is $1.88. Porch Group has a 52-week low of $1.05 and a 52-week high of $4.78.

Insider Buying and Selling

In other Porch Group news, CFO Shawn Tabak sold 15,000 shares of the company's stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $2.00, for a total value of $30,000.00. Following the transaction, the chief financial officer now directly owns 278,298 shares in the company, valued at approximately $556,596. This represents a 5.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 23.46% of the company's stock.

Hedge Funds Weigh In On Porch Group

Institutional investors have recently modified their holdings of the company. Alpine Global Management LLC purchased a new position in shares of Porch Group during the 1st quarter worth about $43,000. Bayesian Capital Management LP purchased a new position in shares of Porch Group in the first quarter valued at $80,000. Caprock Group LLC acquired a new stake in shares of Porch Group during the third quarter valued at about $37,000. Mackenzie Financial Corp increased 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 worth $36,000 after purchasing an additional 12,097 shares during the last quarter. Finally, SG Americas Securities LLC bought a new position in Porch Group during the 3rd quarter valued at $42,000. Institutional investors and hedge funds own 48.48% of the company's stock.

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.