Porch Group, Inc. (NASDAQ:PRCH) Receives $17.00 Average Target Price from Brokerages

Porch Group, Inc. (NASDAQ:PRCH) has received an average recommendation of “Moderate Buy” from the ten research firms that are presently covering the stock, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and seven have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $17.00.

Several research firms have recently issued reports on PRCH. Zacks Research lowered shares of Porch Group from a “hold” rating to a “strong sell” rating in a report on Monday, January 19th. Oppenheimer set a $20.00 price objective on shares of Porch Group in a research report on Thursday, November 6th. B. Riley Financial restated a “buy” rating on shares of Porch Group in a research report on Thursday, November 6th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Porch Group in a research note on Monday, December 29th. Finally, Benchmark reissued a “buy” rating on shares of Porch Group in a research note on Friday, January 16th.

Porch Group Stock Up 0.4%

NASDAQ PRCH opened at $7.39 on Friday. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 36.18. Porch Group has a 52 week low of $3.72 and a 52 week high of $19.44. The firm has a market capitalization of $914.00 million, a price-to-earnings ratio of 25.48 and a beta of 3.08. The company has a fifty day moving average of $8.77 and a two-hundred day moving average of $12.67.

Insider Buying and Selling at Porch Group

In other news, CFO Shawn Tabak sold 24,294 shares of Porch Group stock in a transaction on Monday, December 15th. The stock was sold at an average price of $9.66, for a total transaction of $234,680.04. Following the completion of the sale, the chief financial officer directly owned 118,130 shares in the company, valued at approximately $1,141,135.80. This trade represents a 17.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 57,216 shares of company stock worth $553,129 in the last ninety days. 23.32% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Porch Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PRCH. Thompson Siegel & Walmsley LLC boosted its position in Porch Group by 360.9% in the 4th quarter. Thompson Siegel & Walmsley LLC now owns 644,663 shares of the company’s stock valued at $5,886,000 after buying an additional 504,803 shares during the period. Zweig DiMenna Associates LLC raised its stake in shares of Porch Group by 36.9% during the fourth quarter. Zweig DiMenna Associates LLC now owns 1,329,200 shares of the company’s stock valued at $12,136,000 after acquiring an additional 358,400 shares in the last quarter. Intech Investment Management LLC boosted its holdings in shares of Porch Group by 7.2% in the fourth quarter. Intech Investment Management LLC now owns 33,591 shares of the company’s stock valued at $307,000 after purchasing an additional 2,253 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Porch Group by 4.8% in the fourth quarter. Geode Capital Management LLC now owns 2,294,478 shares of the company’s stock valued at $20,952,000 after purchasing an additional 105,982 shares during the period. Finally, Marble Harbor Investment Counsel LLC bought a new position in Porch Group in the fourth quarter worth approximately $97,000. Institutional investors own 48.48% of the company’s stock.

About Porch Group

Porch Group, Inc operates a technology-driven home services platform designed to connect homeowners with professional contractors, maintenance providers and home improvement specialists. Through its online marketplace and proprietary software solutions, Porch enables users to research, compare and book services ranging from home repairs and remodeling to maintenance and renovations. The company’s platform integrates detailed provider profiles, customer reviews and real-time appointment scheduling to streamline the process of sourcing and managing home projects.

In addition to its core marketplace, Porch offers software products tailored for service professionals.