Porch Group, Inc. (NASDAQ:PRCH) Receives Average Recommendation of “Buy” from Analysts

Porch Group, Inc. (NASDAQ:PRCH) has been given an average rating of “Buy” by the eight ratings firms that are presently covering the stock, Marketbeat reports. One equities research 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 12 month target price among brokerages that have issued a report on the stock in the last year is $7.32.

A number of brokerages have recently issued reports on PRCH. Oppenheimer raised their price target on shares of Porch Group from $7.00 to $8.00 and gave the stock an “outperform” rating in a report on Wednesday, February 26th. Benchmark raised their target price on Porch Group from $7.00 to $10.00 and gave the stock a “buy” rating in a research note on Wednesday, February 26th. Loop Capital upgraded Porch Group from a “hold” rating to a “buy” rating and set a $6.00 target price on the stock in a research report on Wednesday, February 26th. Stephens increased their price target on Porch Group from $8.00 to $10.00 and gave the stock an “overweight” rating in a report on Friday, March 21st. Finally, Keefe, Bruyette & Woods raised their price objective on Porch Group from $3.50 to $6.00 and gave the stock a “market perform” rating in a research report on Monday, March 3rd.

Porch Group Trading Up 1.5 %

Shares of PRCH stock opened at $5.47 on Monday. Porch Group has a twelve month low of $1.05 and a twelve month high of $8.49. The company’s 50-day moving average price is $5.87 and its 200-day moving average price is $4.39. The stock has a market cap of $656.75 million, a price-to-earnings ratio of -7.81 and a beta of 2.15.

Insider Buying and Selling at Porch Group

In other Porch Group news, COO Matthew Neagle sold 60,000 shares of the stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $6.24, for a total value of $374,400.00. Following the sale, the chief operating officer now owns 1,384,057 shares of the company’s stock, valued at $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 available at this link. Also, CFO Shawn Tabak sold 108,226 shares of the business’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $6.05, for a total value of $654,767.30. Following the transaction, the chief financial officer now directly owns 179,613 shares of the company’s stock, valued at approximately $1,086,658.65. This represents a 37.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 195,554 shares of company stock valued at $1,220,190 in the last 90 days. Company insiders own 23.46% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Franklin Resources Inc. acquired a new stake in shares of Porch Group in the 3rd quarter valued at $238,000. Barclays PLC boosted its position in shares of Porch Group by 415.5% during the 3rd quarter. Barclays PLC now owns 134,919 shares of the company’s stock worth $207,000 after acquiring an additional 108,748 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Porch Group by 8.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,987,881 shares of the company’s stock valued at $3,052,000 after acquiring an additional 163,133 shares during the last quarter. State Street Corp raised its position in shares of Porch Group by 7.4% during the 3rd 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. Finally, D.A. Davidson & CO. purchased a new stake in Porch Group during the fourth quarter worth approximately $810,000. Hedge funds and other institutional investors own 48.48% of the company’s stock.

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.