Porch Group (NASDAQ:PRCH) Shares Down 7.3% - Time to Sell?

Porch Group, Inc. (NASDAQ:PRCH - Get Free Report)'s share price was down 7.3% during mid-day trading on Friday . The company traded as low as $5.30 and last traded at $5.37. Approximately 424,111 shares were traded during trading, a decline of 74% from the average daily volume of 1,611,130 shares. The stock had previously closed at $5.79.

Analysts Set New Price Targets

Several research analysts have recently issued reports on PRCH shares. Loop Capital reaffirmed a "hold" rating and issued a $6.00 target price on shares of Porch Group in a research note on Monday, December 9th. Oppenheimer raised their price objective 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. Craig Hallum upped their target price on shares of Porch Group from $4.00 to $8.00 and gave the company a "buy" rating in a research report on Friday, December 6th. Stephens raised their price target on Porch Group from $4.00 to $5.00 and gave the stock an "overweight" rating in a research report on Monday, November 11th. Finally, Benchmark reaffirmed a "buy" rating and set a $7.00 price objective on shares of Porch Group in a research note on Tuesday, October 29th. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $5.34.

Porch Group Stock Performance

The stock's 50-day moving average is $3.69 and its 200 day moving average is $2.29. The firm has a market cap of $650.32 million, a P/E ratio of -7.77 and a beta of 2.14.

Insiders Place Their Bets

In other news, CFO Shawn Tabak sold 21,774 shares of the company'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 transaction, the chief financial officer now owns 287,839 shares in the company, valued at $1,727,034. This represents a 7.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 23.46% of the company's stock.

Institutional Investors Weigh In On Porch Group

Institutional investors have recently added to or reduced their stakes in the stock. Zacks Investment Management acquired a new stake in shares of Porch Group in the 3rd quarter valued at about $32,000. Mackenzie Financial Corp grew its holdings in shares of Porch Group by 102.4% during the second quarter. Mackenzie Financial Corp now owns 23,908 shares of the company's stock worth $36,000 after buying an additional 12,097 shares in the last quarter. Caprock Group LLC acquired a new stake in Porch Group in the 3rd quarter valued at approximately $37,000. SG Americas Securities LLC bought a new stake in Porch Group in the 3rd quarter valued at approximately $42,000. Finally, Los Angeles Capital Management LLC acquired a new position in Porch Group during the 3rd quarter worth approximately $46,000. 48.48% of the stock is owned by 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.