Porch Group, Inc. (NASDAQ:PRCH) Receives $5.34 Consensus Target Price from Analysts

Porch Group, Inc. (NASDAQ:PRCH) has been given a consensus recommendation of “Buy” by the eight analysts that are presently covering the stock, Marketbeat Ratings reports. One investment 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 updated their coverage on the stock in the last year is $5.84.

Several research analysts have weighed in on PRCH shares. Stephens increased their target price on shares of 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 raised shares of Porch Group from a “hold” rating to a “buy” rating and set a $6.00 target price for the company in a research note on Wednesday. Benchmark increased their target price on shares of Porch Group from $7.00 to $10.00 and gave the stock a “buy” rating in a research note on Wednesday. Craig Hallum increased their target price on shares of Porch Group from $4.00 to $8.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Finally, Oppenheimer increased 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.

Porch Group Trading Up 1.5 %

Shares of PRCH opened at $6.70 on Friday. Porch Group has a 12-month low of $1.05 and a 12-month high of $7.19. The firm has a 50-day moving average price of $4.82 and a 200 day moving average price of $3.21. The firm has a market capitalization of $800.94 million, a P/E ratio of -9.57 and a beta of 2.03.

Insider Activity at Porch Group

In related news, CFO Shawn Tabak sold 21,774 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $6.00, for a total value of $130,644.00. Following the sale, the chief financial officer now owns 287,839 shares of the company’s stock, valued at $1,727,034. This trade represents a 7.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 23.46% of the stock is owned by corporate insiders.

Institutional Trading of Porch Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Harbor Capital Advisors Inc. raised its holdings 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 worth $5,794,000 after purchasing an additional 2,457,915 shares in the last quarter. Franklin Resources Inc. acquired a new position in shares of Porch Group in the 3rd quarter valued at $238,000. Barclays PLC increased its holdings in shares of Porch Group by 415.5% in the 3rd 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 increased its holdings in shares of 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 acquiring an additional 1,058,653 shares during the period. Finally, Citizens Financial Group Inc. RI increased its holdings in shares of Porch Group by 128.6% in the 3rd 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. Institutional investors and hedge funds 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.