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

Porch Group, Inc. (NASDAQ:PRCH) has been assigned a consensus recommendation of “Buy” from the eight analysts that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $7.03.

PRCH has been the topic of a number of analyst reports. Benchmark increased 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. Stephens lifted their price target on shares of Porch Group from $8.00 to $10.00 and gave the stock an “overweight” rating in a research report on Friday, March 21st. Keefe, Bruyette & Woods upped their price objective 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. Loop Capital raised Porch Group from a “hold” rating to a “buy” rating and set a $6.00 price objective on the stock in a research note on Wednesday, February 26th. Finally, Oppenheimer boosted their target price on Porch Group from $7.00 to $8.00 and gave the company an “outperform” rating in a research note on Wednesday, February 26th.

Porch Group Trading Down 4.8 %

NASDAQ:PRCH opened at $7.58 on Thursday. Porch Group has a 1-year low of $1.05 and a 1-year high of $8.49. The firm has a market capitalization of $910.09 million, a price-to-earnings ratio of -10.83 and a beta of 2.04. The business’s 50-day moving average price is $5.38 and its two-hundred day moving average price is $3.92.

Insider Buying and Selling at Porch Group

In related news, CFO Shawn Tabak sold 108,226 shares of the stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $6.05, for a total transaction of $654,767.30. Following the completion of 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Matthew Neagle sold 60,000 shares of the firm’s 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 transaction, the chief operating officer now owns 1,384,057 shares of the company’s stock, valued at approximately $8,636,515.68. This represents a 4.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 195,554 shares of company stock worth $1,220,190. Insiders own 23.46% of the company’s stock.

Institutional Investors Weigh In On Porch Group

Several large investors have recently made changes to their positions in the stock. Zacks Investment Management bought a new stake in Porch Group during the third quarter worth $32,000. Nisa Investment Advisors LLC raised its holdings in shares of Porch Group by 5,776.1% in the 4th quarter. Nisa Investment Advisors LLC now owns 6,640 shares of the company’s stock valued at $33,000 after purchasing an additional 6,527 shares during the period. Jones Financial Companies Lllp acquired a new stake in Porch Group in the 4th quarter valued at about $35,000. Caprock Group LLC bought a new position in Porch Group during the third quarter worth about $37,000. Finally, Rik Saylor Financial Inc. bought a new position in Porch Group during the fourth quarter worth about $49,000. Institutional investors and hedge funds 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.