Porch Group (NASDAQ:PRCH) Given New $10.00 Price Target at Benchmark

Porch Group (NASDAQ:PRCH) had its target price boosted by Benchmark from $7.00 to $10.00 in a research report released on Wednesday,Benzinga reports. Benchmark currently has a buy rating on the stock.

Several other research firms also recently weighed in on PRCH. Loop Capital raised Porch Group from a “hold” rating to a “buy” rating and set a $6.00 target price for the company in a research report on Wednesday. Craig Hallum raised their price objective on shares of Porch Group from $4.00 to $8.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Oppenheimer lifted their price target on Porch Group from $4.00 to $7.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. Finally, Stephens lifted their target price on Porch Group from $4.00 to $5.00 and gave the company an “overweight” rating in a research note on Monday, November 11th. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $5.84.

Porch Group Trading Up 4.3 %

Shares of NASDAQ:PRCH opened at $6.99 on Wednesday. The business has a 50-day moving average price of $4.85 and a 200 day moving average price of $3.25. The company 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 12-month low of $1.05 and a 12-month high of $7.19.

Insider Transactions at Porch Group

In related news, CFO Shawn Tabak sold 108,226 shares of the business’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 sale, the chief financial officer now directly owns 179,613 shares in the company, valued at $1,086,658.65. The trade was a 37.60 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 23.46% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Harbor Capital Advisors Inc. grew its stake in Porch Group by 186.6% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 3,774,909 shares of the company’s stock worth $5,794,000 after acquiring an additional 2,457,915 shares during the period. Portolan Capital Management LLC lifted its holdings in Porch Group by 476.0% in the 4th quarter. Portolan Capital Management LLC now owns 2,299,635 shares of the company’s stock worth $11,314,000 after buying an additional 1,900,416 shares in the last quarter. Granahan Investment Management LLC grew its stake in Porch Group by 19.0% during the 4th quarter. Granahan Investment Management LLC now owns 11,891,581 shares of the company’s stock valued at $58,507,000 after purchasing an additional 1,897,816 shares in the last quarter. Driehaus Capital Management LLC bought a new stake in shares of Porch Group in the fourth quarter worth $8,550,000. Finally, Invesco Ltd. lifted its position in shares of Porch Group by 4,365.6% during the fourth quarter. Invesco Ltd. now owns 1,682,286 shares of the company’s stock worth $8,277,000 after purchasing an additional 1,644,614 shares during the last quarter. 48.48% of the stock is currently owned by institutional investors and hedge funds.

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.