Porch Group, Inc. (NASDAQ:PRCH) Receives $4.18 Average PT from Analysts

Porch Group, Inc. (NASDAQ:PRCH) has earned a consensus recommendation of “Buy” from the seven analysts that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $4.18.

PRCH has been the subject of several research analyst reports. Craig Hallum lifted their price objective on Porch Group from $3.00 to $4.00 and gave the stock a “buy” rating in a report on Tuesday, October 29th. Oppenheimer reduced their price objective on Porch Group from $4.50 to $3.50 and set an “outperform” rating for the company in a report on Thursday, August 8th. Northland Securities reduced their price objective on Porch Group from $5.00 to $3.25 and set an “outperform” rating for the company in a report on Wednesday, August 7th. Stephens lifted 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. Finally, Benchmark restated a “buy” rating and set a $7.00 price target on shares of Porch Group in a research note on Tuesday, October 29th.

Porch Group Price Performance

Shares of NASDAQ:PRCH opened at $2.98 on Friday. Porch Group has a 1-year low of $1.05 and a 1-year high of $4.78. The business has a fifty day moving average price of $1.78 and a 200-day moving average price of $1.85. The company has a market capitalization of $353.93 million, a PE ratio of -4.26 and a beta of 1.98.

Insider Transactions at Porch Group

In other news, CFO Shawn Tabak sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $2.00, for a total transaction of $30,000.00. Following the sale, the chief financial officer now directly owns 278,298 shares of the company’s stock, valued at $556,596. This represents a 5.11 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 23.46% of the company’s stock.

Hedge Funds Weigh In On Porch Group

Large investors have recently modified their holdings of the stock. Zacks Investment Management bought a new position in shares of Porch Group during the 3rd quarter valued at approximately $32,000. Mackenzie Financial Corp grew its position in Porch Group by 102.4% in the 2nd quarter. Mackenzie Financial Corp now owns 23,908 shares of the company’s stock valued at $36,000 after acquiring an additional 12,097 shares during the last quarter. Caprock Group LLC bought a new position in Porch Group in the 3rd quarter valued at $37,000. SG Americas Securities LLC bought a new position in Porch Group in the 3rd quarter valued at $42,000. Finally, Alpine Global Management LLC bought a new position in Porch Group in the 1st quarter valued at $43,000. Institutional investors 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.