Stephens Issues Positive Forecast for Porch Group (NASDAQ:PRCH) Stock Price

Porch Group (NASDAQ:PRCH) had its target price boosted by Stephens from $4.00 to $5.00 in a report issued on Monday,Benzinga reports. They currently have an overweight rating on the stock.

Several other brokerages also recently issued reports on PRCH. Oppenheimer reduced their price target on shares of 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 research report on Tuesday, August 13th. Northland Securities reduced their price target on shares of Porch Group from $5.00 to $3.25 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. Craig Hallum raised their price target on shares of Porch Group from $3.00 to $4.00 and gave the stock a “buy” rating in a report on Tuesday, October 29th. Finally, Keefe, Bruyette & Woods lowered their price target on shares of Porch Group from $3.75 to $1.50 and set a “market perform” rating on the stock in a report on Thursday, August 8th. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Porch Group currently has a consensus rating of “Buy” and a consensus price target of $4.18.

Porch Group Price Performance

PRCH stock opened at $3.11 on Monday. The firm has a 50 day simple moving average of $1.75 and a 200-day simple moving average of $1.88. Porch Group has a twelve month low of $1.05 and a twelve month high of $4.78.

Insider Buying and Selling at Porch Group

In other news, CFO Shawn Tabak sold 15,000 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $556,596. This represents a 5.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 23.46% of the company’s stock.

Hedge Funds Weigh In On Porch Group

Large investors have recently bought and sold shares of the stock. Harbor Capital Advisors Inc. grew its holdings in shares of Porch Group by 186.6% during the 3rd 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. Acadian Asset Management LLC boosted its stake in Porch Group by 444.5% during the second quarter. Acadian Asset Management LLC now owns 1,571,003 shares of the company’s stock worth $2,369,000 after buying an additional 1,282,500 shares in the last quarter. GSA Capital Partners LLP increased its holdings in 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 buying an additional 1,058,653 shares during the period. Natixis acquired a new position in shares of Porch Group in the 1st quarter valued at $3,906,000. Finally, Renaissance Technologies LLC lifted its holdings in shares of Porch Group by 53.8% during the 2nd quarter. Renaissance Technologies LLC now owns 2,184,500 shares of the company’s stock worth $3,299,000 after acquiring an additional 763,800 shares during the period. 48.48% of the stock is currently owned by institutional investors and hedge funds.

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.