Porch Group (NASDAQ:PRCH - Get Free Report) had its target price hoisted by investment analysts at Stephens from $8.00 to $10.00 in a report released on Friday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Stephens' price target would suggest a potential upside of 25.63% from the stock's previous close.
Other equities analysts have also issued research reports about the company. Craig Hallum boosted their price objective on Porch Group from $4.00 to $8.00 and gave the stock a "buy" rating in a research note on Friday, December 6th. Loop Capital raised shares of Porch Group from a "hold" rating to a "buy" rating and set a $6.00 price objective on the stock in a report on Wednesday, February 26th. Benchmark boosted their target price on shares of Porch Group from $7.00 to $10.00 and gave the stock a "buy" rating in a research note on Wednesday, February 26th. Oppenheimer increased their price target on shares of Porch Group from $7.00 to $8.00 and gave the company an "outperform" rating in a research note on Wednesday, February 26th. Finally, Keefe, Bruyette & Woods upped their price objective on Porch Group from $3.50 to $6.00 and gave the stock a "market perform" rating in a report on Monday, March 3rd. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $7.03.
Check Out Our Latest Analysis on Porch Group
Porch Group Price Performance
Shares of NASDAQ:PRCH traded up $1.10 during trading on Friday, reaching $7.96. The stock had a trading volume of 5,445,498 shares, compared to its average volume of 1,729,776. The stock has a market capitalization of $955.71 million, a PE ratio of -11.37 and a beta of 2.04. Porch Group has a 52 week low of $1.05 and a 52 week high of $7.30. The business's 50-day moving average price is $5.32 and its 200 day moving average price is $3.89.
Insider Activity at Porch Group
In other news, CFO Shawn Tabak sold 108,226 shares of the stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $6.05, for a total value of $654,767.30. Following the transaction, the chief financial officer now owns 179,613 shares of the company's stock, valued at $1,086,658.65. This represents a 37.60 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Matthew Neagle sold 60,000 shares of the firm's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $6.24, for a total value of $374,400.00. Following the completion of the transaction, the chief operating officer now owns 1,384,057 shares in the company, valued at $8,636,515.68. This represents a 4.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 23.46% of the stock is currently owned by company insiders.
Institutional Trading of Porch Group
Institutional investors and hedge funds have recently modified their holdings of the stock. Nisa Investment Advisors LLC boosted its stake in Porch Group by 5,776.1% during the 4th quarter. Nisa Investment Advisors LLC now owns 6,640 shares of the company's stock worth $33,000 after acquiring an additional 6,527 shares during the last quarter. Jones Financial Companies Lllp acquired a new stake in Porch Group in the fourth quarter worth $35,000. Rik Saylor Financial Inc. bought a new position in shares of Porch Group during the fourth quarter worth $49,000. Raymond James Financial Inc. acquired a new position in shares of Porch Group in the 4th quarter valued at $50,000. Finally, GAMMA Investing LLC bought a new stake in shares of Porch Group in the 4th quarter valued at $50,000. 48.48% of the stock is owned by institutional investors.
Porch Group Company Profile
(
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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.
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