Porch Group, Inc. (NASDAQ:PRCH) Given Average Rating of “Buy” by Brokerages

Porch Group, Inc. (NASDAQ:PRCH) has been given an average rating of “Buy” by the seven research firms that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation, five have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $4.18.

A number of equities analysts recently weighed in on PRCH shares. Benchmark reaffirmed a “buy” rating and issued a $7.00 target price on shares of Porch Group in a research note on Tuesday, October 29th. Stephens lifted their target price on Porch Group from $4.00 to $5.00 and gave the company an “overweight” rating in a research report on Monday, November 11th. Oppenheimer reduced their price target on Porch Group from $4.50 to $3.50 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Cantor Fitzgerald upgraded shares of Porch Group to a “strong-buy” rating in a report on Tuesday, August 13th. Finally, Northland Securities reduced their target price on shares of Porch Group from $5.00 to $3.25 and set an “outperform” rating for the company in a report on Wednesday, August 7th.

Porch Group Stock Performance

Shares of PRCH stock opened at $2.97 on Friday. Porch Group has a 52 week low of $1.05 and a 52 week high of $4.78. The company’s 50 day moving average price is $1.85 and its two-hundred day moving average price is $1.85. The company has a market capitalization of $355.05 million, a P/E ratio of -4.24 and a beta of 1.98.

Insider Buying and Selling

In related news, CFO Shawn Tabak sold 15,000 shares of Porch Group stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $2.00, for a total transaction of $30,000.00. Following the completion of the transaction, the chief financial officer now owns 278,298 shares in the company, valued at approximately $556,596. This trade represents a 5.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 23.46% of the stock is owned by corporate insiders.

Institutional Trading of Porch Group

Hedge funds have recently made changes to their positions in the business. Barclays PLC increased its holdings 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 during the last quarter. Geode Capital Management LLC boosted its position in Porch Group by 8.9% during the third quarter. Geode Capital Management LLC now owns 1,987,881 shares of the company’s stock worth $3,052,000 after purchasing an additional 163,133 shares during the period. Zacks Investment Management acquired a new position in shares of Porch Group in the third quarter valued at $32,000. State Street Corp raised its position 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 valued at $2,560,000 after purchasing an additional 115,176 shares during the period. Finally, Portolan Capital Management LLC acquired a new stake in shares of Porch Group during the 3rd quarter worth about $613,000. 48.48% of the stock is 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.