Brokerages Set Porch Group, Inc. (NASDAQ:PRCH) Target Price at $6.41

Shares of Porch Group, Inc. (NASDAQ:PRCH) have received an average rating of “Buy” from the eight research firms that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $7.03.

Several analysts have recently commented on the stock. 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 report on Friday. Oppenheimer lifted their price target on shares of Porch Group from $7.00 to $8.00 and gave the company an “outperform” rating in a research report on Wednesday, February 26th. Benchmark lifted their price target on shares of Porch Group from $7.00 to $10.00 and gave the company a “buy” rating in a research report on Wednesday, February 26th. Loop Capital raised 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 report on Wednesday, February 26th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Porch Group from $3.50 to $6.00 and gave the company a “market perform” rating in a research report on Monday, March 3rd.

Porch Group Price Performance

PRCH opened at $6.80 on Thursday. The company’s 50 day simple moving average is $5.21 and its two-hundred day simple moving average is $3.79. Porch Group has a 1-year low of $1.05 and a 1-year high of $7.30. The firm has a market capitalization of $816.44 million, a price-to-earnings ratio of -9.71 and a beta of 2.04.

Insider Activity at Porch Group

In related news, COO Matthew Neagle sold 60,000 shares of Porch Group stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $6.24, for a total value of $374,400.00. Following the completion of the sale, the chief operating officer now owns 1,384,057 shares in the company, valued at approximately $8,636,515.68. This trade represents a 4.15 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Shawn Tabak sold 108,226 shares of Porch Group stock in a transaction that occurred on 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 sale, the chief financial officer now 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 disclosure for this sale can be found here. 23.46% of the stock is owned by insiders.

Hedge Funds Weigh In On Porch Group

Several institutional investors have recently modified their holdings of PRCH. Caprock Group LLC acquired a new position in shares of Porch Group in the third quarter worth $37,000. Citizens Financial Group Inc. RI grew its stake in shares of Porch Group by 128.6% in the third quarter. Citizens Financial Group Inc. RI now owns 400,000 shares of the company’s stock worth $614,000 after acquiring an additional 225,000 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Porch Group by 9.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 236,351 shares of the company’s stock worth $363,000 after acquiring an additional 21,171 shares in the last quarter. Portolan Capital Management LLC acquired a new position in shares of Porch Group in the third quarter worth $613,000. Finally, State Street Corp grew its stake in shares of Porch Group by 7.4% in the third quarter. State Street Corp now owns 1,667,493 shares of the company’s stock worth $2,560,000 after acquiring an additional 115,176 shares in the last quarter. Institutional investors and hedge funds 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.