Porch Group, Inc. (NASDAQ:PRCH - Get Free Report) shares hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $7.64 and last traded at $7.74, with a volume of 933397 shares trading hands. The stock had previously closed at $6.86.
Analyst Upgrades and Downgrades
Several research firms recently commented on PRCH. Oppenheimer raised their price target on shares of Porch Group from $7.00 to $8.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 26th. Stephens lifted their price target on shares of Porch Group from $8.00 to $10.00 and gave the company an "overweight" rating in a research note on Friday, March 21st. Craig Hallum boosted their price target on Porch Group from $4.00 to $8.00 and gave the company a "buy" rating in a report on Friday, December 6th. Keefe, Bruyette & Woods raised 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. Finally, Benchmark increased their price target on Porch Group from $7.00 to $10.00 and gave the stock a "buy" rating in a research report on Wednesday, February 26th. One equities research 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 stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $7.03.
Read Our Latest Stock Report on PRCH
Porch Group Stock Performance
The business's fifty day moving average price is $5.49 and its two-hundred day moving average price is $3.98. The firm has a market capitalization of $887.27 million, a P/E ratio of -10.56 and a beta of 2.04.
Insiders Place Their Bets
In other Porch Group news, CFO Shawn Tabak sold 108,226 shares of Porch Group stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $6.05, for a total transaction of $654,767.30. Following the completion of the sale, the chief financial officer now owns 179,613 shares of the company's stock, valued at approximately $1,086,658.65. The trade was a 37.60 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Matthew Neagle sold 27,328 shares of the company's stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $6.99, for a total value of $191,022.72. Following the completion of the sale, the chief operating officer now owns 1,356,729 shares in the company, valued at approximately $9,483,535.71. This represents a 1.97 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 195,554 shares of company stock valued at $1,220,190. 23.46% of the stock is currently owned by insiders.
Institutional Trading of Porch Group
A number of hedge funds and other institutional investors have recently made changes to their positions in PRCH. Granahan Investment Management LLC grew its holdings in Porch Group by 19.0% during the fourth quarter. Granahan Investment Management LLC now owns 11,891,581 shares of the company's stock worth $58,507,000 after acquiring an additional 1,897,816 shares during the period. Vanguard Group Inc. grew its position in shares of Porch Group by 24.9% in the fourth quarter. Vanguard Group Inc. now owns 5,511,591 shares of the company's stock valued at $27,117,000 after purchasing an additional 1,100,224 shares during the period. Portolan Capital Management LLC lifted its stake in Porch Group by 476.0% in the 4th quarter. Portolan Capital Management LLC now owns 2,299,635 shares of the company's stock valued at $11,314,000 after buying an additional 1,900,416 shares in the last quarter. Geode Capital Management LLC increased its stake in Porch Group by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 2,012,705 shares of the company's stock worth $9,905,000 after buying an additional 24,824 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its position in shares of Porch Group by 4.2% in the fourth quarter. Renaissance Technologies LLC now owns 1,910,102 shares of the company's stock valued at $9,398,000 after acquiring an additional 76,701 shares in the last quarter. Institutional investors and hedge funds own 48.48% of the company's stock.
Porch Group Company Profile
(
Get Free Report)
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.
Featured Stories
Before you consider Porch Group, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Porch Group wasn't on the list.
While Porch Group currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
