Porch Group (NASDAQ:PRCH) Price Target Raised to $8.00 at Craig Hallum

Porch Group (NASDAQ:PRCH) had its price target lifted by Craig Hallum from $4.00 to $8.00 in a research note released on Friday,Benzinga reports. They currently have a buy rating on the stock.

A number of other brokerages also recently commented on PRCH. Keefe, Bruyette & Woods lowered their price target on shares of Porch Group from $3.75 to $1.50 and set a “market perform” rating for the company in a report on Thursday, August 8th. Oppenheimer lowered their price objective on Porch Group from $4.50 to $3.50 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Benchmark restated a “buy” rating and set a $7.00 price target on shares of Porch Group in a report on Tuesday, October 29th. Stephens lifted their price objective on shares of Porch Group from $4.00 to $5.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. Finally, Cantor Fitzgerald upgraded shares of Porch Group to a “strong-buy” rating in a report on Tuesday, August 13th. One research analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $4.75.

Porch Group Stock Up 15.8 %

PRCH stock opened at $5.51 on Friday. Porch Group has a 52 week low of $1.05 and a 52 week high of $5.70. The firm has a market capitalization of $658.67 million, a P/E ratio of -7.87 and a beta of 2.14. The company has a fifty day simple moving average of $2.53 and a two-hundred day simple moving average of $1.96.

Insiders Place Their Bets

In other news, CFO Shawn Tabak sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $2.00, for a total value of $30,000.00. Following the completion of the sale, the chief financial officer now owns 278,298 shares of the company’s stock, valued at approximately $556,596. This represents a 5.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 23.46% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in PRCH. Harbor Capital Advisors Inc. boosted its position in Porch Group by 186.6% during the third quarter. Harbor Capital Advisors Inc. now owns 3,774,909 shares of the company’s stock valued at $5,794,000 after purchasing an additional 2,457,915 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of Porch Group by 53.8% during the second quarter. Renaissance Technologies LLC now owns 2,184,500 shares of the company’s stock worth $3,299,000 after purchasing an additional 763,800 shares in the last quarter. GSA Capital Partners LLP lifted its holdings in shares of Porch Group by 223.4% during the 3rd quarter. GSA Capital Partners LLP now owns 1,532,616 shares of the company’s stock valued at $2,353,000 after purchasing an additional 1,058,653 shares during the last quarter. Citizens Financial Group Inc. RI boosted its position in shares of Porch Group by 128.6% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 400,000 shares of the company’s stock worth $614,000 after purchasing an additional 225,000 shares in the last quarter. Finally, Acadian Asset Management LLC boosted its holdings in Porch Group by 444.5% in the second quarter. Acadian Asset Management LLC now owns 1,571,003 shares of the company’s stock worth $2,369,000 after acquiring an additional 1,282,500 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.