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

Shares of Porch Group, Inc. (NASDAQ:PRCH) have been given an average recommendation of “Moderate Buy” by the eight brokerages that are covering the stock, Marketbeat reports. Two analysts have rated the stock with a hold recommendation, five have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $5.34.

PRCH has been the subject of several analyst reports. Loop Capital reaffirmed a “hold” rating and set a $6.00 price objective on shares of Porch Group in a research note on Monday, December 9th. Stephens upped their price objective on 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 upped their price objective 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 reaffirmed a “buy” rating and set a $7.00 price objective on shares of Porch Group in a research note on Tuesday, October 29th. Finally, Oppenheimer upped their price objective on Porch Group from $4.00 to $7.00 and gave the company an “outperform” rating in a research note on Monday, December 9th.

Porch Group Stock Down 10.0 %

Shares of NASDAQ PRCH opened at $4.33 on Friday. The stock has a market cap of $517.61 million, a PE ratio of -6.19 and a beta of 2.03. Porch Group has a 52-week low of $1.05 and a 52-week high of $6.03. The business has a 50-day moving average price of $4.81 and a 200 day moving average price of $3.11.

Insider Activity

In other news, CFO Shawn Tabak sold 21,774 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $6.00, for a total value of $130,644.00. Following the completion of the sale, the chief financial officer now directly owns 287,839 shares of the company’s stock, valued at $1,727,034. This trade represents a 7.03 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 23.46% of the company’s stock.

Hedge Funds Weigh In On Porch Group

Hedge funds and other institutional investors have recently bought and sold shares of the company. Harbor Capital Advisors Inc. raised its holdings in 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 purchasing an additional 2,457,915 shares during the last quarter. Franklin Resources Inc. acquired a new position in Porch Group during the third quarter worth $238,000. Barclays PLC raised its holdings in Porch Group by 415.5% during the third quarter. Barclays PLC now owns 134,919 shares of the company’s stock worth $207,000 after purchasing an additional 108,748 shares during the last quarter. GSA Capital Partners LLP raised its holdings in Porch Group by 223.4% during the third quarter. GSA Capital Partners LLP now owns 1,532,616 shares of the company’s stock worth $2,353,000 after purchasing an additional 1,058,653 shares during the last quarter. Finally, Citizens Financial Group Inc. RI raised its holdings 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 last quarter. 48.48% of the stock is owned by institutional investors and hedge funds.

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.