Porch Group (NASDAQ:PRCH) Raised to Buy at Loop Capital

Porch Group (NASDAQ:PRCH) was upgraded by analysts at Loop Capital from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday,Briefing.com Automated Import reports. The brokerage presently has a $6.00 price objective on the stock. Loop Capital’s price target suggests a potential upside of 58.31% from the stock’s current price.

Several other analysts have also recently commented on PRCH. Stephens raised their price target on Porch Group from $4.00 to $5.00 and gave the company an “overweight” rating in a report on Monday, November 11th. Benchmark restated a “buy” rating and set a $7.00 target price on shares of Porch Group in a research report on Tuesday, October 29th. Oppenheimer increased their price target on shares of Porch Group from $4.00 to $7.00 and gave the company an “outperform” rating in a report on Monday, December 9th. Finally, Craig Hallum boosted 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. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $5.34.

Porch Group Stock Down 3.6 %

Shares of Porch Group stock opened at $3.79 on Wednesday. The firm has a market cap of $453.07 million, a price-to-earnings ratio of -5.41 and a beta of 2.03. Porch Group has a 52-week low of $1.05 and a 52-week high of $6.03. The company’s 50-day simple moving average is $4.74 and its 200-day simple moving average is $3.16.

Insider Buying and Selling at Porch Group

In other Porch Group news, CFO Shawn Tabak sold 21,774 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $6.00, for a total transaction of $130,644.00. Following the sale, the chief financial officer now owns 287,839 shares in the company, valued at approximately $1,727,034. This represents a 7.03 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 23.46% of the company’s stock.

Institutional Investors Weigh In On Porch Group

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Zacks Investment Management purchased a new position in shares of Porch Group during the third quarter valued at approximately $32,000. Nisa Investment Advisors LLC raised its stake in Porch Group by 5,776.1% during the fourth quarter. Nisa Investment Advisors LLC now owns 6,640 shares of the company’s stock worth $33,000 after purchasing an additional 6,527 shares during the period. Jones Financial Companies Lllp acquired a new position in shares of Porch Group in the 4th quarter valued at $35,000. Caprock Group LLC purchased a new stake in shares of Porch Group during the 3rd quarter valued at $37,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Porch Group during the 3rd quarter worth $42,000. 48.48% of the stock is currently 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.