Porch Group (NASDAQ:PRCH) Price Target Raised to $5.00

Porch Group (NASDAQ:PRCH) had its price objective hoisted by Stephens from $4.00 to $5.00 in a research report sent to investors on Monday,Benzinga reports. The firm currently has an overweight rating on the stock.

Several other analysts have also issued reports on PRCH. Benchmark restated a “buy” rating and issued a $7.00 price objective on shares of Porch Group in a research note on Tuesday, October 29th. Cantor Fitzgerald raised Porch Group to a “strong-buy” rating in a report on Tuesday, August 13th. Craig Hallum raised their target price on Porch Group from $3.00 to $4.00 and gave the company a “buy” rating in a report on Tuesday, October 29th. Keefe, Bruyette & Woods dropped their price target on Porch Group from $3.75 to $1.50 and set a “market perform” rating for the company in a research note on Thursday, August 8th. Finally, Oppenheimer dropped their price target on Porch Group from $4.50 to $3.50 and set an “outperform” rating for the company in a research note on Thursday, August 8th. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $4.18.

Porch Group Stock Down 14.2 %

NASDAQ:PRCH opened at $2.89 on Monday. The stock’s 50 day moving average price is $1.71 and its two-hundred day moving average price is $1.87. The firm has a market capitalization of $343.25 million, a price-to-earnings ratio of -4.13 and a beta of 1.98. Porch Group has a 12-month low of $1.05 and a 12-month high of $4.78.

Insider Transactions at Porch Group

In other news, CFO Shawn Tabak sold 15,000 shares of the firm’s stock in a transaction dated 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 in the company, valued at $556,596. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 23.46% of the company’s stock.

Institutional Trading of Porch Group

Large investors have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. boosted its stake in Porch Group by 9.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 236,351 shares of the company’s stock valued at $363,000 after purchasing an additional 21,171 shares during the last quarter. Citizens Financial Group Inc. RI raised its holdings in shares of Porch Group by 128.6% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 400,000 shares of the company’s stock worth $614,000 after purchasing an additional 225,000 shares during the period. Caprock Group LLC bought a new stake in shares of Porch Group in the 3rd quarter worth approximately $37,000. GSA Capital Partners LLP raised its holdings in shares of Porch Group by 223.4% in the 3rd quarter. GSA Capital Partners LLP now owns 1,532,616 shares of the company’s stock worth $2,353,000 after purchasing an additional 1,058,653 shares during the period. Finally, Los Angeles Capital Management LLC bought a new stake in shares of Porch Group in the 3rd quarter worth approximately $46,000. 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.