Porch Group, Inc. (NASDAQ:PRCH) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Porch Group, Inc. (NASDAQ:PRCH) have been given an average rating of “Moderate Buy” by the eight brokerages that are currently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $5.34.

PRCH has been the subject of a number of analyst reports. Loop Capital reissued a “hold” rating and issued a $6.00 price target on shares of Porch Group in a report on Monday, December 9th. Oppenheimer boosted their price target on Porch Group from $4.00 to $7.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. Stephens boosted 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. Craig Hallum boosted their price target on Porch Group from $4.00 to $8.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Finally, Benchmark reissued a “buy” rating and issued a $7.00 price target on shares of Porch Group in a report on Tuesday, October 29th.

Insider Activity

In other news, CFO Shawn Tabak sold 21,774 shares of Porch Group stock in a transaction on Monday, December 16th. The stock was sold at an average price of $6.00, for a total value of $130,644.00. Following the completion of the sale, the chief financial officer now owns 287,839 shares of the company’s stock, valued at $1,727,034. The trade was a 7.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 23.46% of the company’s stock.

Institutional Investors Weigh In On Porch Group

Institutional investors have recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. grew its position in Porch Group by 186.6% during the third quarter. Harbor Capital Advisors Inc. now owns 3,774,909 shares of the company’s stock valued at $5,794,000 after acquiring an additional 2,457,915 shares during the period. Franklin Resources Inc. purchased a new stake in Porch Group during the third quarter valued at about $238,000. Barclays PLC grew its position in Porch Group by 415.5% during the third quarter. Barclays PLC now owns 134,919 shares of the company’s stock valued at $207,000 after acquiring an additional 108,748 shares during the period. GSA Capital Partners LLP grew its position in Porch Group by 223.4% during the third quarter. GSA Capital Partners LLP now owns 1,532,616 shares of the company’s stock valued at $2,353,000 after acquiring an additional 1,058,653 shares during the period. Finally, Citizens Financial Group Inc. RI grew its position in Porch Group by 128.6% during the third quarter. Citizens Financial Group Inc. RI now owns 400,000 shares of the company’s stock valued at $614,000 after acquiring an additional 225,000 shares during the period. Hedge funds and other institutional investors own 48.48% of the company’s stock.

Porch Group Stock Down 10.0 %

NASDAQ PRCH opened at $4.33 on Friday. Porch Group has a fifty-two week low of $1.05 and a fifty-two week high of $6.03. The stock has a market cap of $517.61 million, a price-to-earnings ratio of -6.19 and a beta of 2.03. The business has a fifty day moving average of $4.81 and a 200-day moving average of $3.11.

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.