Analysts Set Porch Group, Inc. (NASDAQ:PRCH) Target Price at $5.34

Shares of Porch Group, Inc. (NASDAQ:PRCH) have been given an average recommendation of “Moderate Buy” by the eight research firms that are presently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation, five have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $5.34.

A number of research analysts recently weighed in on PRCH shares. Loop Capital reissued a “hold” rating and set a $6.00 price target on shares of Porch Group in a research report on Monday, December 9th. Craig Hallum boosted their target price on Porch Group from $4.00 to $8.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Stephens increased their price target on Porch Group from $4.00 to $5.00 and gave the company an “overweight” rating in a research report on Monday, November 11th. Benchmark reissued a “buy” rating and issued a $7.00 price objective on shares of Porch Group in a research report on Tuesday, October 29th. Finally, Oppenheimer raised their target price on Porch Group from $4.00 to $7.00 and gave the company an “outperform” rating in a research report on Monday, December 9th.

Insider Activity

In other Porch Group news, CFO Shawn Tabak sold 15,000 shares of the company’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $2.00, for a total transaction of $30,000.00. Following the sale, the chief financial officer now directly owns 278,298 shares of the company’s stock, valued at $556,596. This represents a 5.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 23.46% of the company’s stock.

Institutional Trading of Porch Group

Several hedge funds and other institutional investors have recently modified their holdings of PRCH. 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 valued at $5,794,000 after buying an additional 2,457,915 shares in the last quarter. Renaissance Technologies LLC grew its position in shares of Porch Group by 53.8% in the second quarter. Renaissance Technologies LLC now owns 2,184,500 shares of the company’s stock valued at $3,299,000 after purchasing an additional 763,800 shares in the last quarter. Marshall Wace LLP grew its position in shares of Porch Group by 11.8% in the second quarter. Marshall Wace LLP now owns 2,152,174 shares of the company’s stock valued at $3,250,000 after purchasing an additional 226,721 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Porch Group by 8.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,987,881 shares of the company’s stock valued at $3,052,000 after purchasing an additional 163,133 shares during the period. Finally, State Street Corp lifted its holdings in Porch Group by 7.4% during the 3rd quarter. State Street Corp now owns 1,667,493 shares of the company’s stock worth $2,560,000 after purchasing an additional 115,176 shares in the last quarter. Institutional investors own 48.48% of the company’s stock.

Porch Group Trading Down 3.6 %

Shares of NASDAQ:PRCH opened at $4.51 on Friday. The stock has a market cap of $539.14 million, a PE ratio of -6.44 and a beta of 2.05. The stock’s fifty day simple moving average is $4.33 and its two-hundred day simple moving average is $2.53. Porch Group has a 1-year low of $1.05 and a 1-year high of $6.03.

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.