Porch Group (NASDAQ:PRCH) Stock Price Up 2.5% – Time to Buy?

Porch Group, Inc. (NASDAQ:PRCH) shares were up 2.5% on Monday . The company traded as high as $7.49 and last traded at $7.58. Approximately 617,208 shares changed hands during trading, a decline of 65% from the average daily volume of 1,766,257 shares. The stock had previously closed at $7.39.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on PRCH. Oppenheimer raised their price objective on shares of Porch Group from $7.00 to $8.00 and gave the company an “outperform” rating in a research note on Wednesday, February 26th. Stephens raised their price target on Porch Group from $8.00 to $10.00 and gave the stock an “overweight” rating in a research report on Friday, March 21st. Craig Hallum increased their target price on Porch Group from $4.00 to $8.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Loop Capital upgraded Porch Group from a “hold” rating to a “buy” rating and set a $6.00 target price for the company in a research report on Wednesday, February 26th. Finally, 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. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $7.03.

Porch Group Stock Performance

The firm’s fifty day simple moving average is $5.49 and its 200 day simple moving average is $4.02. The stock has a market capitalization of $900.72 million, a price-to-earnings ratio of -10.83 and a beta of 2.04.

Insider Buying and Selling at Porch Group

In other Porch Group news, CFO Shawn Tabak sold 108,226 shares of Porch Group stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $6.05, for a total value of $654,767.30. Following the sale, the chief financial officer now directly owns 179,613 shares in the company, valued at approximately $1,086,658.65. The trade was a 37.60 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Matthew Neagle sold 27,328 shares of the business’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $6.99, for a total transaction of $191,022.72. Following the sale, the chief operating officer now directly owns 1,356,729 shares in the company, valued at $9,483,535.71. This trade represents a 1.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 195,554 shares of company stock valued at $1,220,190 in the last 90 days. 23.46% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Porch Group

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

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.