Porch Group (NASDAQ:PRCH) Upgraded at Loop Capital

Porch Group (NASDAQ:PRCH) was upgraded by stock analysts at Loop Capital from a “hold” rating to a “buy” rating in a report released on Wednesday, MarketBeat Ratings reports. The firm currently has a $6.00 price objective on the stock. Loop Capital’s price objective suggests a potential downside of 10.45% from the company’s current price.

A number of other equities analysts have also recently weighed in on PRCH. Craig Hallum upped their price objective on shares of Porch Group from $4.00 to $8.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Stephens upped their price target on shares of Porch Group from $4.00 to $5.00 and gave the stock an “overweight” rating in a research report on Monday, November 11th. Benchmark reaffirmed a “buy” rating and issued a $7.00 price target on shares of Porch Group in a research note on Tuesday, October 29th. Finally, Oppenheimer boosted their price objective on Porch Group from $4.00 to $7.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Porch Group currently has a consensus rating of “Buy” and a consensus price target of $5.84.

Porch Group Price Performance

Porch Group stock opened at $6.70 on Wednesday. Porch Group has a 12 month low of $1.05 and a 12 month high of $7.19. The stock has a market capitalization of $800.94 million, a PE ratio of -9.57 and a beta of 2.03. The business has a 50 day simple moving average of $4.82 and a 200-day simple moving average of $3.21.

Insider Buying and Selling at Porch Group

In other Porch Group news, CFO Shawn Tabak sold 21,774 shares of the business’s 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 transaction, the chief financial officer now owns 287,839 shares of the company’s stock, valued at approximately $1,727,034. The trade was a 7.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 23.46% of the stock is owned by insiders.

Institutional Trading of Porch Group

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