Porch Group (NASDAQ:PRCH) Shares Gap Down - Time to Sell?

Porch Group, Inc. (NASDAQ:PRCH - Get Free Report)'s share price gapped down prior to trading on Monday . The stock had previously closed at $6.60, but opened at $6.23. Porch Group shares last traded at $5.94, with a volume of 217,139 shares trading hands.

Analyst Ratings Changes

Several brokerages have recently commented on PRCH. Loop Capital upgraded shares of Porch Group from a "hold" rating to a "buy" rating and set a $6.00 price target on the stock in a research note on Wednesday, February 26th. Oppenheimer raised their target price 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. Keefe, Bruyette & Woods raised their target price on shares of Porch Group from $3.50 to $6.00 and gave the company a "market perform" rating in a research note on Monday, March 3rd. Benchmark raised their target price on shares of Porch Group from $7.00 to $10.00 and gave the company a "buy" rating in a research note on Wednesday, February 26th. Finally, Craig Hallum raised their target price on shares of Porch Group from $4.00 to $8.00 and gave the company a "buy" rating in a research note on Friday, December 6th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $6.41.

Porch Group Trading Up 6.8 %

The business's fifty day simple moving average is $5.03 and its two-hundred day simple moving average is $3.55. The stock has a market capitalization of $715.58 million, a P/E ratio of -8.52 and a beta of 2.04.

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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 dated 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 directly owns 179,613 shares of the company's stock, valued at $1,086,658.65. This trade represents a 37.60 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 23.46% of the stock is owned by insiders.

Hedge Funds Weigh In On Porch Group

Institutional investors have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC increased its position in 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 acquiring an additional 5,273 shares in the last quarter. Price T Rowe Associates Inc. MD lifted 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 buying an additional 5,557 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in shares of Porch Group by 5,776.1% in the fourth quarter. Nisa Investment Advisors LLC now owns 6,640 shares of the company's stock worth $33,000 after purchasing an additional 6,527 shares in the last quarter. Jones Financial Companies Lllp acquired a new position in Porch Group during the fourth quarter worth $35,000. Finally, ProShare Advisors LLC increased its holdings in Porch Group by 51.0% during the fourth quarter. ProShare Advisors LLC now owns 22,238 shares of the company's stock worth $109,000 after buying an additional 7,506 shares during the last quarter. 48.48% of the stock is owned by institutional investors.

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.