Analysts Set Porch Group, Inc. (NASDAQ:PRCH) PT at $6.41

Porch Group, Inc. (NASDAQ:PRCH - Get Free Report) has been assigned a consensus rating of "Buy" from the eight brokerages that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $7.03.

PRCH has been the topic of a number of research reports. Stephens boosted their target price on shares of Porch Group from $8.00 to $10.00 and gave the stock an "overweight" rating in a research note on Friday. Benchmark boosted their price objective on Porch Group from $7.00 to $10.00 and gave the stock a "buy" rating in a research report on Wednesday, February 26th. Loop Capital upgraded Porch Group from a "hold" rating to a "buy" rating and set a $6.00 target price for the company in a research report on Wednesday, February 26th. Oppenheimer boosted their price target on Porch Group from $7.00 to $8.00 and gave the stock an "outperform" rating in a report on Wednesday, February 26th. Finally, Craig Hallum raised their price objective on shares of Porch Group from $4.00 to $8.00 and gave the company a "buy" rating in a report on Friday, December 6th.

Porch Group Stock Performance

Shares of PRCH traded up $0.40 during mid-day trading on Thursday, reaching $6.80. The company had a trading volume of 4,357,449 shares, compared to its average volume of 1,724,231. The company's 50 day simple moving average is $5.21 and its 200 day simple moving average is $3.79. The company has a market capitalization of $816.44 million, a price-to-earnings ratio of -9.71 and a beta of 2.04. Porch Group has a 1-year low of $1.05 and a 1-year high of $7.30.

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Insider Transactions at Porch Group

In related news, CFO Shawn Tabak sold 108,226 shares of Porch Group stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $6.05, for a total transaction of $654,767.30. Following the completion of the transaction, the chief financial officer now owns 179,613 shares of the company's stock, valued at $1,086,658.65. This trade represents a 37.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Matthew Neagle sold 60,000 shares of the company's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $6.24, for a total transaction of $374,400.00. Following the sale, the chief operating officer now directly owns 1,384,057 shares in the company, valued at $8,636,515.68. This trade represents a 4.15 % decrease in their position. The disclosure for this sale can be found here. 23.46% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Porch Group

Large investors have recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC lifted its stake in Porch Group by 5,776.1% in the fourth quarter. Nisa Investment Advisors LLC now owns 6,640 shares of the company's stock valued at $33,000 after buying an additional 6,527 shares during the period. Jones Financial Companies Lllp acquired a new position in shares of Porch Group during the 4th quarter valued at $35,000. Rik Saylor Financial Inc. bought a new position in Porch Group during the fourth quarter worth $49,000. Raymond James Financial Inc. acquired a new stake in Porch Group in the fourth quarter worth $50,000. Finally, GAMMA Investing LLC bought a new stake in Porch Group in the 4th quarter valued at about $50,000. Institutional investors and hedge funds own 48.48% of the company's stock.

Porch Group Company Profile

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.