Porch Group (NASDAQ:PRCH) Shares Up 5.5% – Should You Buy?

Shares of Porch Group, Inc. (NASDAQ:PRCH) were up 5.5% during mid-day trading on Friday . The stock traded as high as $5.25 and last traded at $5.22. Approximately 81,043 shares traded hands during mid-day trading, a decline of 91% from the average daily volume of 902,343 shares. The stock had previously closed at $4.95.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Loop Capital reissued a “hold” rating and set a $6.00 target price on shares of Porch Group in a research report on Monday, December 9th. Stephens upped their target price on Porch Group from $4.00 to $5.00 and gave the stock an “overweight” rating in a research report on Monday, November 11th. Craig Hallum lifted their price target on shares of Porch Group from $4.00 to $8.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Oppenheimer upped their price target on shares of Porch Group from $4.00 to $7.00 and gave the company an “outperform” rating in a report on Monday, December 9th. Finally, Benchmark reiterated a “buy” rating and issued a $7.00 price objective on shares of Porch Group in a research note on Tuesday, October 29th. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Porch Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $5.34.

Porch Group Stock Performance

The firm has a market capitalization of $635.97 million, a P/E ratio of -7.60 and a beta of 2.14. The stock has a 50-day moving average of $3.98 and a 200 day moving average of $2.38.

Insiders Place Their Bets

In other Porch Group news, CFO Shawn Tabak sold 15,000 shares of the business’s 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 sale, the chief financial officer now directly owns 278,298 shares of the company’s stock, valued at approximately $556,596. The trade was a 5.11 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 23.46% of the company’s stock.

Institutional Investors Weigh In On Porch Group

Institutional investors and hedge funds have recently modified their holdings of the business. Zacks Investment Management acquired a new stake in Porch Group during the 3rd quarter worth $32,000. Mackenzie Financial Corp grew its holdings in Porch Group by 102.4% during the second quarter. Mackenzie Financial Corp now owns 23,908 shares of the company’s stock valued at $36,000 after purchasing an additional 12,097 shares during the period. Caprock Group LLC acquired a new stake in Porch Group in the third quarter worth $37,000. SG Americas Securities LLC acquired a new position in Porch Group in the third quarter valued at about $42,000. Finally, Los Angeles Capital Management LLC acquired a new stake in shares of Porch Group during the third quarter worth about $46,000. 48.48% of the stock is owned by 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.