Porch Group (NASDAQ:PRCH) Price Target Raised to $10.00

Porch Group (NASDAQ:PRCH) had its price objective upped by Stephens from $8.00 to $10.00 in a report published on Friday,Benzinga reports. They currently have an overweight rating on the stock.

Several other analysts have also recently weighed in on PRCH. Loop Capital upgraded shares of Porch Group from a “hold” rating to a “buy” rating and set a $6.00 price objective for the company in a research note on Wednesday, February 26th. 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. Keefe, Bruyette & Woods boosted their price target on Porch Group from $3.50 to $6.00 and gave the company a “market perform” rating in a research note on Monday, March 3rd. Craig Hallum raised their price objective on Porch Group from $4.00 to $8.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Finally, Benchmark upped their target price on Porch Group from $7.00 to $10.00 and gave the company a “buy” rating in a research report on Wednesday, February 26th. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $7.03.

Porch Group Price Performance

PRCH stock opened at $6.80 on Friday. The business’s fifty day moving average price is $5.21 and its two-hundred day moving average price is $3.80. The stock has a market capitalization of $816.44 million, a price-to-earnings ratio of -9.71 and a beta of 2.04. Porch Group has a fifty-two week low of $1.05 and a fifty-two week high of $7.30.

Insider Transactions at Porch Group

In related news, 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 sale, the chief financial officer now directly owns 179,613 shares of the company’s stock, valued at approximately $1,086,658.65. The trade was a 37.60 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Matthew Neagle sold 60,000 shares of the stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $6.24, for a total transaction of $374,400.00. Following the completion of the transaction, the chief operating officer now directly owns 1,384,057 shares of the company’s stock, valued at approximately $8,636,515.68. The trade was a 4.15 % decrease in their position. The disclosure for this sale can be found here. 23.46% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Granahan Investment Management LLC grew its position in Porch Group by 19.0% during the 4th quarter. Granahan Investment Management LLC now owns 11,891,581 shares of the company’s stock worth $58,507,000 after acquiring an additional 1,897,816 shares during the last quarter. Vanguard Group Inc. raised its holdings in Porch Group by 24.9% in the 4th quarter. Vanguard Group Inc. now owns 5,511,591 shares of the company’s stock valued at $27,117,000 after buying an additional 1,100,224 shares during the last quarter. Portolan Capital Management LLC boosted its position in Porch Group by 476.0% during the 4th quarter. Portolan Capital Management LLC now owns 2,299,635 shares of the company’s stock worth $11,314,000 after buying an additional 1,900,416 shares during the period. Geode Capital Management LLC grew its holdings in Porch Group by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 2,012,705 shares of the company’s stock worth $9,905,000 after acquiring an additional 24,824 shares during the last quarter. Finally, Renaissance Technologies LLC increased its position in Porch Group by 4.2% in the 4th quarter. Renaissance Technologies LLC now owns 1,910,102 shares of the company’s stock valued at $9,398,000 after acquiring an additional 76,701 shares during the period. 48.48% of the stock is currently owned by institutional investors and hedge funds.

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.