Porch Group, Inc. (NASDAQ:PRCH) Receives $4.18 Consensus Price Target from Analysts

Porch Group, Inc. (NASDAQ:PRCH) has been given an average rating of “Buy” by the seven analysts that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a hold recommendation, five have issued a buy recommendation and one has assigned a strong buy recommendation 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 topic of a number of research reports. Oppenheimer dropped their price objective on Porch Group from $4.50 to $3.50 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Craig Hallum raised their price target on shares of Porch Group from $3.00 to $4.00 and gave the company a “buy” rating in a report on Tuesday, October 29th. Northland Securities lowered their target price on shares of Porch Group from $5.00 to $3.25 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th. Stephens boosted their price target on Porch Group from $4.00 to $5.00 and gave the stock an “overweight” rating in a research report on Monday, November 11th. Finally, Benchmark reissued a “buy” rating and set a $7.00 price objective on shares of Porch Group in a report on Tuesday, October 29th.

Insider Buying and Selling at Porch Group

In related news, CFO Shawn Tabak sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $2.00, for a total transaction of $30,000.00. Following the completion of the transaction, the chief financial officer now owns 278,298 shares in the company, valued at $556,596. This trade represents a 5.11 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 23.46% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Harbor Capital Advisors Inc. boosted its holdings in shares of Porch Group by 186.6% in the 3rd 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. Renaissance Technologies LLC raised its position in Porch Group by 53.8% in the 2nd 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 during the last quarter. Marshall Wace LLP boosted its stake in Porch Group by 11.8% in the second quarter. Marshall Wace LLP now owns 2,152,174 shares of the company’s stock worth $3,250,000 after purchasing an additional 226,721 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Porch Group by 8.9% during the third quarter. Geode Capital Management LLC now owns 1,987,881 shares of the company’s stock worth $3,052,000 after purchasing an additional 163,133 shares during the last quarter. Finally, State Street Corp increased its stake in shares of Porch Group by 7.4% in the third quarter. State Street Corp now owns 1,667,493 shares of the company’s stock valued at $2,560,000 after buying an additional 115,176 shares in the last quarter. 48.48% of the stock is owned by institutional investors.

Porch Group Price Performance

Shares of PRCH stock opened at $3.56 on Friday. Porch Group has a fifty-two week low of $1.05 and a fifty-two week high of $4.78. The stock’s 50-day moving average is $1.94 and its two-hundred day moving average is $1.87. The firm has a market cap of $425.56 million, a P/E ratio of -5.09 and a beta of 1.98.

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.