Porch Group, Inc. (NASDAQ:PRCH) Given Consensus Rating of “Buy” by Brokerages

Porch Group, Inc. (NASDAQ:PRCH) has received an average rating of “Buy” from the eight analysts that are covering the stock, Marketbeat reports. One analyst has rated the stock with a hold recommendation, six have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $5.84.

Several equities research analysts recently issued reports on PRCH shares. Craig Hallum raised their target price on shares of Porch Group from $4.00 to $8.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Oppenheimer lifted their price target on shares of Porch Group from $7.00 to $8.00 and gave the company an “outperform” rating in a report on Wednesday. Stephens upped their price objective on Porch Group from $4.00 to $5.00 and gave the stock an “overweight” rating in a report on Monday, November 11th. Benchmark increased their target price on Porch Group from $7.00 to $10.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Loop Capital raised Porch Group from a “hold” rating to a “buy” rating and set a $6.00 price target for the company in a research report on Wednesday.

Insider Transactions at Porch Group

In other news, CFO Shawn Tabak sold 21,774 shares of the business’s 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 approximately $1,727,034. The trade was a 7.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 23.46% of the company’s stock.

Institutional Investors Weigh In On Porch Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC acquired a new stake in shares of Porch Group during the third quarter valued at about $42,000. Harbor Capital Advisors Inc. boosted its holdings in Porch Group by 186.6% in the third quarter. Harbor Capital Advisors Inc. now owns 3,774,909 shares of the company’s stock valued at $5,794,000 after purchasing an additional 2,457,915 shares during the last quarter. Los Angeles Capital Management LLC acquired a new stake in Porch Group during the 3rd quarter valued at approximately $46,000. GSA Capital Partners LLP grew its stake in Porch Group by 223.4% during the 3rd quarter. GSA Capital Partners LLP now owns 1,532,616 shares of the company’s stock valued at $2,353,000 after purchasing an additional 1,058,653 shares in the last quarter. Finally, Caprock Group LLC purchased a new stake in Porch Group during the 3rd quarter worth approximately $37,000. Hedge funds and other institutional investors own 48.48% of the company’s stock.

Porch Group Trading Up 4.3 %

NASDAQ PRCH opened at $6.99 on Friday. The company has a market capitalization of $835.61 million, a PE ratio of -9.99 and a beta of 2.03. The business’s 50-day moving average price is $4.85 and its 200 day moving average price is $3.26. Porch Group has a twelve month low of $1.05 and a twelve month high of $7.19.

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.