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

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

A number of equities analysts have recently weighed in on the stock. Northland Securities reduced their price target on shares of Porch Group from $5.00 to $3.25 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th. Stephens lifted their target price on Porch Group from $4.00 to $5.00 and gave the stock an “overweight” rating in a report on Monday. Oppenheimer decreased their target price on Porch Group from $4.50 to $3.50 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Keefe, Bruyette & Woods dropped their price target on Porch Group from $3.75 to $1.50 and set a “market perform” rating on the stock in a research report on Thursday, August 8th. Finally, Cantor Fitzgerald upgraded Porch Group to a “strong-buy” rating in a research report on Tuesday, August 13th.

Insider Buying and Selling

In related news, CFO Shawn Tabak sold 15,000 shares of the 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 completion of the transaction, the chief financial officer now directly owns 278,298 shares of the company’s stock, valued at approximately $556,596. This represents a 5.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 23.46% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Porch Group

Several large investors have recently made changes to their positions in PRCH. Charles Schwab Investment Management Inc. increased its holdings in Porch Group by 9.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 236,351 shares of the company’s stock worth $363,000 after buying an additional 21,171 shares during the last quarter. Citizens Financial Group Inc. RI increased its stake in shares of Porch Group by 128.6% during the 3rd 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. Caprock Group LLC bought a new stake in shares of Porch Group in the 3rd quarter valued at about $37,000. GSA Capital Partners LLP raised its holdings in shares of 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 purchasing an additional 1,058,653 shares during the period. Finally, Los Angeles Capital Management LLC acquired a new stake in Porch Group in the 3rd quarter valued at about $46,000. Institutional investors and hedge funds own 48.48% of the company’s stock.

Porch Group Price Performance

Shares of NASDAQ:PRCH opened at $3.11 on Friday. The company has a market capitalization of $369.37 million, a price-to-earnings ratio of -4.44 and a beta of 1.98. The firm’s 50 day simple moving average is $1.75 and its 200 day simple moving average is $1.88. Porch Group has a fifty-two week low of $1.05 and a fifty-two week high of $4.78.

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.