Brokerages Set Porch Group, Inc. (NASDAQ:PRCH) Target Price at $4.18

Shares of Porch Group, Inc. (NASDAQ:PRCH) have received an average rating of “Buy” from the seven ratings firms that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $4.18.

PRCH has been the subject of several research reports. Craig Hallum upped their target price on Porch Group from $3.00 to $4.00 and gave the stock a “buy” rating in a report on Tuesday, October 29th. Keefe, Bruyette & Woods lowered their target price on Porch Group from $3.75 to $1.50 and set a “market perform” rating for the company in a report on Thursday, August 8th. Oppenheimer lowered their target price on Porch Group from $4.50 to $3.50 and set an “outperform” rating for the company in a report on Thursday, August 8th. Cantor Fitzgerald upgraded Porch Group to a “strong-buy” rating in a report on Tuesday, August 13th. Finally, Northland Securities lowered their target price on Porch Group from $5.00 to $3.25 and set an “outperform” rating for the company in a report on Wednesday, August 7th.

Insider Buying and Selling

In other Porch Group news, CFO Shawn Tabak sold 15,000 shares of the stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $2.00, for a total value of $30,000.00. Following the completion of the sale, the chief financial officer now directly owns 278,298 shares in the company, valued at approximately $556,596. This trade represents a 5.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 23.46% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Porch Group

Several institutional investors have recently added to or reduced their stakes in PRCH. Harbor Capital Advisors Inc. boosted its holdings in Porch Group by 186.6% in the third 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 in the last quarter. Acadian Asset Management LLC boosted its holdings in Porch Group by 444.5% in the second quarter. Acadian Asset Management LLC now owns 1,571,003 shares of the company’s stock worth $2,369,000 after acquiring an additional 1,282,500 shares in the last quarter. GSA Capital Partners LLP boosted its holdings in Porch Group by 223.4% in the third quarter. GSA Capital Partners LLP now owns 1,532,616 shares of the company’s stock worth $2,353,000 after acquiring an additional 1,058,653 shares in the last quarter. Natixis acquired a new stake in Porch Group in the first quarter worth about $3,906,000. Finally, Renaissance Technologies LLC lifted its holdings in shares of Porch Group by 53.8% during the second quarter. Renaissance Technologies LLC now owns 2,184,500 shares of the company’s stock worth $3,299,000 after purchasing an additional 763,800 shares during the period. Institutional investors and hedge funds own 48.48% of the company’s stock.

Porch Group Stock Down 4.2 %

Shares of Porch Group stock opened at $2.98 on Friday. The stock’s fifty day moving average is $1.78 and its two-hundred day moving average is $1.85. The company has a market capitalization of $353.93 million, a PE ratio of -4.26 and a beta of 1.98. Porch Group has a 52 week low of $1.05 and a 52 week high of $4.78.

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.