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

Porch Group, Inc. (NASDAQ:PRCH) has received an average recommendation of “Buy” from the eight research firms that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $5.84.

PRCH has been the subject of a number of recent research reports. Craig Hallum boosted their price objective on shares of Porch Group from $4.00 to $8.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Oppenheimer upped their target price on Porch Group from $7.00 to $8.00 and gave the company an “outperform” rating in a report on Wednesday. Stephens raised their price target on Porch Group from $4.00 to $5.00 and gave the stock an “overweight” rating in a report on Monday, November 11th. Loop Capital upgraded Porch Group from a “hold” rating to a “buy” rating and set a $6.00 price objective for the company in a research note on Wednesday. Finally, Benchmark raised their target price on Porch Group from $7.00 to $10.00 and gave the company a “buy” rating in a research note on Wednesday.

Insider Buying and Selling

In related news, CFO Shawn Tabak sold 108,226 shares of the firm’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $6.05, for a total value of $654,767.30. Following the completion of the transaction, the chief financial officer now owns 179,613 shares of the company’s stock, valued at approximately $1,086,658.65. This trade represents a 37.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 23.46% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of PRCH. Harbor Capital Advisors Inc. increased its holdings in shares of 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. Franklin Resources Inc. acquired a new position in Porch Group in the 3rd quarter valued at $238,000. Barclays PLC increased its position 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 acquiring an additional 108,748 shares during the period. GSA Capital Partners LLP raised its stake 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 worth $2,353,000 after purchasing an additional 1,058,653 shares in the last quarter. Finally, Citizens Financial Group Inc. RI boosted its holdings in Porch Group by 128.6% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 400,000 shares of the company’s stock valued at $614,000 after purchasing an additional 225,000 shares during the period. Institutional investors own 48.48% of the company’s stock.

Porch Group Stock Performance

Shares of PRCH stock opened at $6.99 on Friday. The stock has a market capitalization of $835.61 million, a price-to-earnings ratio of -9.99 and a beta of 2.03. Porch Group has a one year low of $1.05 and a one year high of $7.19. The company’s 50-day simple moving average is $4.85 and its 200-day simple moving average is $3.26.

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.