Porch Group (NASDAQ:PRCH) Trading 6.7% Higher - Still a Buy?

Shares of Porch Group, Inc. (NASDAQ:PRCH - Get Free Report) rose 6.7% on Monday . The stock traded as high as $4.63 and last traded at $4.75. Approximately 331,474 shares were traded during trading, a decline of 70% from the average daily volume of 1,089,829 shares. The stock had previously closed at $4.45.

Analyst Ratings Changes

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

Porch Group Stock Down 0.9 %

The firm has a 50-day moving average price of $4.85 and a 200 day moving average price of $2.88. The firm has a market capitalization of $536.73 million, a PE ratio of -6.41 and a beta of 2.03.

Porch Group (NASDAQ:PRCH - Get Free Report) last announced its earnings results on Thursday, November 7th. The company reported ($0.02) EPS for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.01). The company had revenue of $111.20 million during the quarter. During the same quarter in the previous year, the business posted ($0.12) earnings per share. Equities research analysts expect that Porch Group, Inc. will post -0.63 earnings per share for the current year.

Insider Transactions at Porch Group

In related news, CFO Shawn Tabak sold 21,774 shares of Porch Group 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 approximately $1,727,034. The trade was a 7.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 23.46% of the company's stock.

Hedge Funds Weigh In On Porch Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Sei Investments Co. purchased a new position in Porch Group in the second quarter valued at $477,000. Squarepoint Ops LLC raised its position in Porch Group by 356.6% in the 2nd quarter. Squarepoint Ops LLC now owns 189,333 shares of the company's stock valued at $286,000 after purchasing an additional 147,866 shares in the last quarter. Mackenzie Financial Corp boosted its stake in shares of Porch Group by 102.4% in the 2nd quarter. Mackenzie Financial Corp now owns 23,908 shares of the company's stock valued at $36,000 after buying an additional 12,097 shares during the period. SG Americas Securities LLC acquired a new position in shares of Porch Group during the third quarter worth about $42,000. Finally, Harbor Capital Advisors Inc. increased its stake in shares of Porch Group by 186.6% during the third quarter. Harbor Capital Advisors Inc. now owns 3,774,909 shares of the company's stock worth $5,794,000 after buying an additional 2,457,915 shares during the period. Hedge funds and other institutional investors own 48.48% of the company's stock.

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.