Brokerages Set Porch Group, Inc. (NASDAQ:PRCH) PT at $5.34

Porch Group, Inc. (NASDAQ:PRCH - Get Free Report) has been given a consensus recommendation of "Buy" by the eight brokerages that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $5.84.

Several research analysts have issued reports on the stock. Craig Hallum increased their target price on shares of Porch Group from $4.00 to $8.00 and gave the stock a "buy" rating in a report on Friday, December 6th. Stephens increased their target price on shares of Porch Group from $4.00 to $5.00 and gave the stock an "overweight" rating in a report on Monday, November 11th. Benchmark increased their target price on shares of Porch Group from $7.00 to $10.00 and gave the stock a "buy" rating in a report on Wednesday. Oppenheimer increased their target price on shares of Porch Group from $7.00 to $8.00 and gave the stock an "outperform" rating in a report on Wednesday. Finally, Loop Capital upgraded shares of Porch Group from a "hold" rating to a "buy" rating and set a $6.00 target price on the stock in a report on Wednesday.

Porch Group Trading Up 74.1 %

NASDAQ PRCH opened at $6.60 on Friday. The company's 50-day moving average price is $4.77 and its 200-day moving average price is $3.18. The stock has a market cap of $788.99 million, a PE ratio of -9.43 and a beta of 2.03. Porch Group has a 12 month low of $1.05 and a 12 month high of $6.92.

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Insider Buying and Selling at Porch Group

In other Porch Group news, CFO Shawn Tabak sold 21,774 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $6.00, for a total transaction of $130,644.00. Following the completion of the sale, the chief financial officer now directly owns 287,839 shares of the company's stock, valued at approximately $1,727,034. This represents a 7.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 23.46% of the company's stock.

Institutional Trading of Porch Group

Hedge funds have recently modified their holdings of the company. Harbor Capital Advisors Inc. raised its position in shares of Porch Group by 186.6% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 3,774,909 shares of the company's stock valued at $5,794,000 after purchasing an additional 2,457,915 shares during the last quarter. Franklin Resources Inc. purchased a new position in shares of Porch Group in the 3rd quarter valued at approximately $238,000. Barclays PLC raised its position in shares of Porch Group by 415.5% in the 3rd quarter. Barclays PLC now owns 134,919 shares of the company's stock valued at $207,000 after purchasing an additional 108,748 shares during the last quarter. GSA Capital Partners LLP raised its position in shares of Porch Group by 223.4% in the 3rd quarter. GSA Capital Partners LLP now owns 1,532,616 shares of the company's stock valued at $2,353,000 after purchasing an additional 1,058,653 shares during the last quarter. Finally, Citizens Financial Group Inc. RI raised its position in shares of Porch Group by 128.6% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 400,000 shares of the company's stock valued at $614,000 after purchasing an additional 225,000 shares during the last quarter. 48.48% of the stock is owned by hedge funds and other institutional investors.

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.