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

Shares of Porch Group, Inc. (NASDAQ:PRCH) have been assigned an average recommendation of “Buy” from the eight brokerages that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $7.03.

Several equities analysts have commented on PRCH shares. Stephens raised their target price on shares of Porch Group from $8.00 to $10.00 and gave the company an “overweight” rating in a research note on Friday. Keefe, Bruyette & Woods raised 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 note on Monday, March 3rd. Loop Capital raised Porch Group from a “hold” rating to a “buy” rating and set a $6.00 target price on the stock in a report on Wednesday, February 26th. Benchmark increased their price target on Porch Group from $7.00 to $10.00 and gave the company a “buy” rating in a research note on Wednesday, February 26th. Finally, Craig Hallum boosted their price objective on Porch Group from $4.00 to $8.00 and gave the stock a “buy” rating in a research note on Friday, December 6th.

Porch Group Stock Performance

Shares of PRCH opened at $6.86 on Thursday. Porch Group has a one year low of $1.05 and a one year high of $7.30. The stock’s fifty day moving average is $5.25 and its 200-day moving average is $3.84. The firm has a market capitalization of $823.64 million, a price-to-earnings ratio of -9.80 and a beta of 2.04.

Insider Transactions at Porch Group

In other Porch Group news, COO Matthew Neagle sold 60,000 shares of the business’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $6.24, for a total transaction of $374,400.00. Following the sale, the chief operating officer now owns 1,384,057 shares in the company, valued at approximately $8,636,515.68. The trade was a 4.15 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Shawn Tabak sold 108,226 shares of the company’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $6.05, for a total transaction of $654,767.30. Following the sale, the chief financial officer now directly owns 179,613 shares of the company’s stock, valued at $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. Corporate insiders own 23.46% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in PRCH. Tower Research Capital LLC TRC boosted its stake in Porch Group by 91.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 11,017 shares of the company’s stock worth $54,000 after purchasing an additional 5,273 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of Porch Group by 22.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 30,524 shares of the company’s stock valued at $151,000 after purchasing an additional 5,557 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in shares of Porch Group by 5,776.1% in the fourth quarter. Nisa Investment Advisors LLC now owns 6,640 shares of the company’s stock worth $33,000 after buying an additional 6,527 shares during the period. Jones Financial Companies Lllp purchased a new position in shares of Porch Group during the fourth quarter valued at $35,000. Finally, ProShare Advisors LLC raised its position in Porch Group by 51.0% during the fourth quarter. ProShare Advisors LLC now owns 22,238 shares of the company’s stock valued at $109,000 after buying an additional 7,506 shares during the period. 48.48% of the stock is owned by hedge funds and other institutional investors.

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.