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

Porch Group, Inc. (NASDAQ:PRCH) has received an average rating of “Moderate Buy” from the eight ratings firms that are currently 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 objective among brokers that have issued a report on the stock in the last year is $5.34.

Several analysts recently issued reports on PRCH shares. Stephens upped their price objective on shares of Porch Group from $4.00 to $5.00 and gave the company an “overweight” rating in a research note on Monday, November 11th. Craig Hallum increased their price target on Porch Group from $4.00 to $8.00 and gave the company a “buy” rating in a report on Friday, December 6th. Oppenheimer boosted their price objective on Porch Group from $4.00 to $7.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. Benchmark reaffirmed a “buy” rating and issued a $7.00 target price on shares of Porch Group in a research note on Tuesday, October 29th. Finally, Loop Capital reissued a “hold” rating and set a $6.00 price target on shares of Porch Group in a research report on Monday, December 9th.

Porch Group Stock Down 7.7 %

Shares of PRCH opened at $4.68 on Friday. The firm’s fifty day moving average is $4.23 and its two-hundred day moving average is $2.49. The stock has a market cap of $559.47 million, a PE ratio of -6.69 and a beta of 2.05. Porch Group has a 52-week low of $1.05 and a 52-week high of $6.03.

Insider Buying and Selling at Porch Group

In other news, CFO Shawn Tabak sold 21,774 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $6.00, for a total value of $130,644.00. Following the sale, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 23.46% of the stock is currently owned by corporate insiders.

Institutional Trading of Porch Group

Several institutional investors have recently added to or reduced their stakes in the stock. Harbor Capital Advisors Inc. boosted its position in shares of Porch Group by 186.6% during the third quarter. Harbor Capital Advisors Inc. now owns 3,774,909 shares of the company’s stock worth $5,794,000 after buying an additional 2,457,915 shares during the period. Renaissance Technologies LLC lifted its stake in Porch Group by 53.8% during 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 in the last quarter. Franklin Resources Inc. purchased a new position in Porch Group during the 3rd quarter valued at about $238,000. GSA Capital Partners LLP grew its position in Porch Group by 223.4% in the 3rd 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 in the last quarter. Finally, Citizens Financial Group Inc. RI increased its stake in Porch Group by 128.6% during the third quarter. Citizens Financial Group Inc. RI now owns 400,000 shares of the company’s stock worth $614,000 after purchasing an additional 225,000 shares during the period. Institutional investors and hedge funds own 48.48% of the company’s stock.

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.