Porch Group (NASDAQ:PRCH) Price Target Raised to $10.00 at Stephens

Porch Group (NASDAQ:PRCH) had its price objective raised by Stephens from $8.00 to $10.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an overweight rating on the stock.

Several other research analysts have also weighed in on PRCH. Craig Hallum lifted their price objective on Porch Group from $4.00 to $8.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Oppenheimer boosted their price target on Porch Group from $7.00 to $8.00 and gave the company an “outperform” rating in a research note on Wednesday, February 26th. Loop Capital raised shares of Porch Group from a “hold” rating to a “buy” rating and set a $6.00 price objective for the company in a research report on Wednesday, February 26th. Keefe, Bruyette & Woods boosted their target price on shares of Porch Group from $3.50 to $6.00 and gave the company a “market perform” rating in a research report on Monday, March 3rd. Finally, Benchmark raised their price target 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. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $7.03.

Porch Group Stock Performance

NASDAQ:PRCH opened at $6.80 on Friday. Porch Group has a 52 week low of $1.05 and a 52 week high of $7.30. The firm’s fifty day moving average is $5.21 and its 200-day moving average is $3.80. The firm has a market cap of $816.44 million, a P/E ratio of -9.71 and a beta of 2.04.

Insider Transactions at Porch Group

In other news, CFO Shawn Tabak sold 108,226 shares of the firm’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $6.05, for a total value of $654,767.30. Following the transaction, the chief financial officer now owns 179,613 shares in the company, valued at $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 available through this hyperlink. Also, COO Matthew Neagle sold 60,000 shares of Porch Group stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $6.24, for a total value of $374,400.00. Following the transaction, the chief operating officer now directly owns 1,384,057 shares in the company, valued at approximately $8,636,515.68. The trade was a 4.15 % decrease in their position. The disclosure for this sale can be found here. 23.46% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Porch Group

A number of institutional investors and hedge funds have recently bought and sold shares of PRCH. Caprock Group LLC bought a new stake in shares of Porch Group in the 3rd quarter worth $37,000. Citizens Financial Group Inc. RI grew its position 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 worth $614,000 after purchasing an additional 225,000 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Porch Group by 9.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 236,351 shares of the company’s stock worth $363,000 after purchasing an additional 21,171 shares in the last quarter. Portolan Capital Management LLC purchased a new stake in Porch Group in the 3rd quarter valued at about $613,000. Finally, State Street Corp lifted its position in shares of Porch Group by 7.4% during the 3rd quarter. State Street Corp now owns 1,667,493 shares of the company’s stock worth $2,560,000 after buying an additional 115,176 shares in the last quarter. 48.48% of the stock is owned by hedge funds and other institutional investors.

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.