Porch Group (NASDAQ:PRCH) Upgraded to “Buy” at Loop Capital

Loop Capital upgraded shares of Porch Group (NASDAQ:PRCH) from a hold rating to a buy rating in a research report report published on Wednesday morning, Marketbeat.com reports. They currently have $6.00 target price on the stock.

A number of other analysts have also commented on the company. Craig Hallum lifted their price target on Porch Group from $4.00 to $8.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Benchmark reissued a “buy” rating and set a $7.00 target price on shares of Porch Group in a report on Tuesday, October 29th. Oppenheimer upped their price objective on shares of Porch Group from $4.00 to $7.00 and gave the company an “outperform” rating in a report on Monday, December 9th. Finally, Stephens raised their target price on Porch Group from $4.00 to $5.00 and gave the company an “overweight” rating in a research note on Monday, November 11th. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Porch Group has an average rating of “Buy” and a consensus target price of $5.84.

Porch Group Stock Performance

Shares of PRCH opened at $6.60 on Wednesday. The stock has a market capitalization of $788.99 million, a price-to-earnings ratio of -9.43 and a beta of 2.03. Porch Group has a 52 week low of $1.05 and a 52 week high of $6.92. The stock has a fifty day moving average of $4.77 and a 200-day moving average of $3.18.

Insider Transactions at Porch Group

In other Porch Group news, CFO Shawn Tabak sold 21,774 shares of Porch Group stock in a transaction on Monday, December 16th. The shares were sold at an average price of $6.00, for a total transaction of $130,644.00. Following the transaction, the chief financial officer now directly owns 287,839 shares of the company’s stock, valued at $1,727,034. The trade was a 7.03 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 23.46% of the company’s stock.

Institutional Investors Weigh In On Porch Group

Institutional investors have recently added to or reduced their stakes in the company. Squarepoint Ops LLC purchased a new position in shares of Porch Group in the 4th quarter worth approximately $57,000. Two Sigma Advisers LP lifted its holdings in Porch Group by 44.1% during the fourth quarter. Two Sigma Advisers LP now owns 123,600 shares of the company’s stock worth $608,000 after acquiring an additional 37,800 shares during the period. Two Sigma Investments LP lifted its holdings in Porch Group by 1,564.1% during the fourth quarter. Two Sigma Investments LP now owns 197,127 shares of the company’s stock worth $970,000 after acquiring an additional 185,281 shares during the period. ProShare Advisors LLC boosted its position in Porch Group by 51.0% in the fourth quarter. ProShare Advisors LLC now owns 22,238 shares of the company’s stock worth $109,000 after purchasing an additional 7,506 shares during the last quarter. Finally, Progeny 3 Inc. bought a new position in Porch Group in the 4th quarter valued at $339,000. 48.48% of the stock is owned by 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.