Shares of Porch Group, Inc. (NASDAQ:PRCH - Get Free Report) have been assigned an average rating of "Moderate Buy" from the eight brokerages that are currently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation, five have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $5.34.
Several equities research analysts have commented on the stock. Loop Capital reaffirmed a "hold" rating and set a $6.00 price objective on shares of Porch Group in a report on Monday, December 9th. Oppenheimer upped their price target on shares of Porch Group from $4.00 to $7.00 and gave the company an "outperform" rating in a research note on Monday, December 9th. Benchmark reaffirmed a "buy" rating and issued a $7.00 price objective on shares of Porch Group in a report on Tuesday, October 29th. Craig Hallum increased their target price on Porch Group from $4.00 to $8.00 and gave the stock a "buy" rating in a research report on Friday, December 6th. Finally, Stephens raised their price target on Porch Group from $4.00 to $5.00 and gave the stock an "overweight" rating in a report on Monday, November 11th.
Check Out Our Latest Stock Report on Porch Group
Insider Buying and Selling at Porch Group
In other news, CFO Shawn Tabak sold 21,774 shares of the business's stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $6.00, for a total value of $130,644.00. Following the completion of the sale, the chief financial officer now directly owns 287,839 shares in the company, valued at approximately $1,727,034. The trade was a 7.03 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 23.46% of the company's stock.
Hedge Funds Weigh In On Porch Group
A number of large investors have recently added to or reduced their stakes in PRCH. Susquehanna Fundamental Investments LLC grew its stake in shares of Porch Group by 34.5% during the second quarter. Susquehanna Fundamental Investments LLC now owns 37,489 shares of the company's stock valued at $57,000 after buying an additional 9,626 shares during the last quarter. GAMMA Investing LLC purchased a new stake in Porch Group during the 4th quarter valued at about $50,000. Mackenzie Financial Corp grew its position 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 acquiring an additional 12,097 shares during the last quarter. AE Wealth Management LLC grew its position in Porch Group by 7.5% during the 2nd quarter. AE Wealth Management LLC now owns 241,879 shares of the company's stock worth $365,000 after acquiring an additional 16,793 shares during the last quarter. Finally, Zacks Investment Management purchased a new position in Porch Group in the 3rd quarter worth approximately $32,000. Hedge funds and other institutional investors own 48.48% of the company's stock.
Porch Group Price Performance
Shares of PRCH traded up $0.37 during mid-day trading on Friday, hitting $5.32. The stock had a trading volume of 1,164,866 shares, compared to its average volume of 1,458,383. Porch Group has a 52 week low of $1.05 and a 52 week high of $6.03. The business has a fifty day moving average price of $4.07 and a 200-day moving average price of $2.42. The firm has a market cap of $635.97 million, a P/E ratio of -7.60 and a beta of 2.14.
About Porch Group
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Get Free ReportPorch 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.
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