Porch Group (NASDAQ:PRCH) Given New $6.00 Price Target at Keefe, Bruyette & Woods

Porch Group (NASDAQ:PRCH) had its price target lifted by stock analysts at Keefe, Bruyette & Woods from $3.50 to $6.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ price target would suggest a potential downside of 15.18% from the company’s current price.

A number of other equities analysts have also commented on PRCH. Stephens boosted their price objective on Porch Group from $4.00 to $5.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. Loop Capital upgraded shares of Porch Group from a “hold” rating to a “buy” rating and set a $6.00 price target on the stock in a research report on Wednesday, February 26th. Benchmark increased their price objective on shares of Porch Group from $7.00 to $10.00 and gave the stock a “buy” rating in a report on Wednesday, February 26th. Oppenheimer boosted their target price on shares of Porch Group from $7.00 to $8.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 26th. Finally, Craig Hallum increased their price target on shares of Porch Group from $4.00 to $8.00 and gave the company a “buy” rating in a research note on Friday, December 6th. One analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Porch Group presently has a consensus rating of “Buy” and a consensus price target of $6.41.

Porch Group Stock Performance

Shares of NASDAQ PRCH traded up $0.08 during mid-day trading on Monday, hitting $7.07. 969,362 shares of the stock were exchanged, compared to its average volume of 2,164,385. The company has a market cap of $845.65 million, a P/E ratio of -10.03 and a beta of 2.03. Porch Group has a twelve month low of $1.05 and a twelve month high of $7.19. The stock’s fifty day simple moving average is $4.85 and its two-hundred day simple moving average is $3.28.

Insider Activity at Porch Group

In other Porch Group news, CFO Shawn Tabak sold 108,226 shares of Porch Group stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $6.05, for a total value of $654,767.30. Following the sale, the chief financial officer now owns 179,613 shares of the company’s stock, valued at $1,086,658.65. This trade represents a 37.60 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 23.46% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. Harbor Capital Advisors Inc. grew its stake in 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 in the last quarter. Franklin Resources Inc. bought a new stake in Porch Group in the 3rd quarter valued at $238,000. Barclays PLC increased its position in Porch Group by 415.5% during the 3rd quarter. Barclays PLC now owns 134,919 shares of the company’s stock worth $207,000 after buying an additional 108,748 shares during the period. GSA Capital Partners LLP boosted its holdings 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 purchasing an additional 1,058,653 shares during the period. Finally, Citizens Financial Group Inc. RI grew its position 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 in the last quarter. Institutional investors own 48.48% of the company’s stock.

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.