Porch Group, Inc. (NASDAQ:PRCH) Receives $6.41 Consensus PT from Brokerages

Shares of Porch Group, Inc. (NASDAQ:PRCH) have earned a consensus recommendation of “Buy” from the eight ratings firms that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation, six have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $7.03.

PRCH has been the topic of several analyst reports. Stephens increased their price target on Porch Group from $8.00 to $10.00 and gave the stock an “overweight” rating in a research report on Friday. Oppenheimer increased their price target on Porch Group from $7.00 to $8.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 26th. Loop Capital raised 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 target on Porch Group from $7.00 to $10.00 and gave the stock a “buy” rating in a research report on Wednesday, February 26th. Finally, Keefe, Bruyette & Woods increased their price target on Porch Group from $3.50 to $6.00 and gave the stock a “market perform” rating in a research report on Monday, March 3rd.

Insider Activity

In related news, CFO Shawn Tabak sold 108,226 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $6.05, for a total value of $654,767.30. Following the transaction, the chief financial officer now directly 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Matthew Neagle sold 60,000 shares of the firm’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $6.24, for a total transaction of $374,400.00. Following the completion of the transaction, the chief operating officer now directly owns 1,384,057 shares in the company, valued at $8,636,515.68. This represents a 4.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 23.46% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Nisa Investment Advisors LLC lifted its stake in Porch Group by 5,776.1% in the 4th quarter. Nisa Investment Advisors LLC now owns 6,640 shares of the company’s stock valued at $33,000 after buying an additional 6,527 shares in the last quarter. Jones Financial Companies Lllp purchased a new position in Porch Group in the 4th quarter valued at about $35,000. Rik Saylor Financial Inc. purchased a new position in Porch Group in the 4th quarter valued at about $49,000. Raymond James Financial Inc. purchased a new position in Porch Group in the 4th quarter valued at about $50,000. Finally, GAMMA Investing LLC purchased a new position in Porch Group in the 4th quarter valued at about $50,000. 48.48% of the stock is owned by hedge funds and other institutional investors.

Porch Group Price Performance

Shares of PRCH stock opened at $6.80 on Thursday. The firm has a market capitalization of $816.44 million, a price-to-earnings ratio of -9.71 and a beta of 2.04. The business has a fifty day moving average of $5.21 and a 200 day moving average of $3.79. Porch Group has a 1 year low of $1.05 and a 1 year high of $7.30.

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.