Porch Group (NASDAQ:PRCH) Given New $6.00 Price Target at Keefe, Bruyette & Woods

Porch Group (NASDAQ:PRCH - Get Free Report) had its price objective lifted by research analysts at Keefe, Bruyette & Woods from $3.50 to $6.00 in a research report issued on Monday,Benzinga reports. The firm currently has a "market perform" rating on the stock. Keefe, Bruyette & Woods' price objective would indicate a potential downside of 6.98% from the company's previous close.

A number of other research firms have also weighed in on PRCH. Benchmark increased their target price on Porch Group from $7.00 to $10.00 and gave the stock a "buy" rating in a research note on Wednesday, February 26th. Stephens lifted their price objective on shares of Porch Group from $4.00 to $5.00 and gave the company an "overweight" rating in a report on Monday, November 11th. 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 research note on Wednesday, February 26th. Craig Hallum raised their target price on shares of Porch Group from $4.00 to $8.00 and gave the stock a "buy" rating in a research report on Friday, December 6th. Finally, Oppenheimer boosted their price target on Porch Group from $7.00 to $8.00 and gave the company an "outperform" rating in a report on Wednesday, February 26th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $6.41.

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Porch Group Trading Down 10.3 %

Shares of NASDAQ PRCH traded down $0.74 during midday trading on Monday, hitting $6.45. The company's stock had a trading volume of 1,699,232 shares, compared to its average volume of 2,218,642. Porch Group has a 12-month low of $1.05 and a 12-month high of $7.30. The firm has a market cap of $771.06 million, a P/E ratio of -9.21 and a beta of 2.04. The business's 50 day moving average is $4.95 and its two-hundred day moving average is $3.38.

Insider Activity at Porch Group

In other Porch Group 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 transaction of $654,767.30. Following the sale, the chief financial officer now owns 179,613 shares of the company's stock, valued at approximately $1,086,658.65. This trade represents a 37.60 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 23.46% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Porch Group

A number of hedge funds have recently made changes to their positions in PRCH. Tower Research Capital LLC TRC boosted its holdings in shares of Porch Group by 91.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 11,017 shares of the company's stock valued at $54,000 after buying an additional 5,273 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Porch Group by 22.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 30,524 shares of the company's stock valued at $151,000 after acquiring an additional 5,557 shares in the last quarter. Nisa Investment Advisors LLC grew 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 buying 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 about $35,000. Finally, ProShare Advisors LLC boosted its holdings in Porch Group by 51.0% in the fourth quarter. ProShare Advisors LLC now owns 22,238 shares of the company's stock worth $109,000 after acquiring an additional 7,506 shares in the last quarter. 48.48% of the stock is currently 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.