Porch Group, Inc. (NASDAQ:PRCH) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Porch Group, Inc. (NASDAQ:PRCH) have received a consensus recommendation of “Moderate Buy” from the eight brokerages that are presently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation, five have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $5.34.

Several equities analysts have commented on the company. Benchmark reissued a “buy” rating and set a $7.00 price objective on shares of Porch Group in a research report on Tuesday, October 29th. Loop Capital reissued a “hold” rating and set a $6.00 price objective on shares of Porch Group in a research report on Monday, December 9th. Oppenheimer raised their price objective on Porch Group from $4.00 to $7.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. Stephens raised their price objective on Porch Group from $4.00 to $5.00 and gave the company an “overweight” rating in a research report on Monday, November 11th. Finally, Craig Hallum raised their price objective on Porch Group from $4.00 to $8.00 and gave the company a “buy” rating in a research report on Friday, December 6th.

Insider Buying and Selling

In related news, CFO Shawn Tabak sold 15,000 shares of Porch Group stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $2.00, for a total value of $30,000.00. Following the completion of the sale, the chief financial officer now directly owns 278,298 shares in the company, valued at approximately $556,596. This trade represents a 5.11 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 23.46% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Porch Group

A number of large investors have recently made changes to their positions in PRCH. Harbor Capital Advisors Inc. lifted its position in shares of Porch Group by 186.6% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 3,774,909 shares of the company’s stock valued at $5,794,000 after buying an additional 2,457,915 shares in the last quarter. Acadian Asset Management LLC lifted its position in Porch Group by 444.5% in the second quarter. Acadian Asset Management LLC now owns 1,571,003 shares of the company’s stock worth $2,369,000 after buying an additional 1,282,500 shares during the last quarter. GSA Capital Partners LLP raised its stake in shares of Porch Group by 223.4% in the third quarter. GSA Capital Partners LLP now owns 1,532,616 shares of the company’s stock valued at $2,353,000 after acquiring an additional 1,058,653 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of Porch Group by 53.8% in the 2nd quarter. Renaissance Technologies LLC now owns 2,184,500 shares of the company’s stock worth $3,299,000 after acquiring an additional 763,800 shares during the last quarter. Finally, Portolan Capital Management LLC purchased a new position in shares of Porch Group during the 3rd quarter worth about $613,000. 48.48% of the stock is currently owned by institutional investors.

Porch Group Stock Up 2.3 %

Shares of PRCH stock opened at $5.35 on Tuesday. The stock has a fifty day moving average of $2.91 and a 200 day moving average of $2.06. Porch Group has a 52 week low of $1.05 and a 52 week high of $5.70. The firm has a market capitalization of $639.56 million, a price-to-earnings ratio of -7.64 and a beta of 2.14.

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.