Porch Group (NASDAQ:PRCH) Given New $10.00 Price Target at Stephens

Porch Group (NASDAQ:PRCH) had its price target increased by analysts at Stephens from $8.00 to $10.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Stephens’ price target indicates a potential upside of 50.76% from the company’s current price.

Several other brokerages have also issued reports on PRCH. Benchmark lifted their price target on shares of Porch Group from $7.00 to $10.00 and gave the company a “buy” rating in a report on Wednesday, February 26th. Craig Hallum lifted their price target on shares of Porch Group from $4.00 to $8.00 and gave the company a “buy” rating in a report on Friday, December 6th. Keefe, Bruyette & Woods lifted their price target on shares of Porch Group from $3.50 to $6.00 and gave the company a “market perform” rating in a report on Monday, March 3rd. Oppenheimer lifted their price target on shares of Porch Group from $7.00 to $8.00 and gave the company an “outperform” rating in a report on Wednesday, February 26th. Finally, Loop Capital raised shares of Porch Group from a “hold” rating to a “buy” rating and set a $6.00 target price on the stock in a report on Wednesday, February 26th. One analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $7.03.

Porch Group Trading Up 3.6 %

Shares of Porch Group stock opened at $6.63 on Friday. The firm has a market capitalization of $796.38 million, a PE ratio of -9.36 and a beta of 2.04. The firm’s 50 day moving average is $5.16 and its 200 day moving average is $3.73. Porch Group has a 1 year low of $1.05 and a 1 year high of $7.30.

Insider Transactions at Porch Group

In other news, CFO Shawn Tabak sold 108,226 shares of the business’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $6.05, for a total value of $654,767.30. Following the transaction, the chief financial officer now owns 179,613 shares in the company, valued at approximately $1,086,658.65. The trade was a 37.60 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Matthew Neagle sold 60,000 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $6.24, for a total transaction of $374,400.00. Following the completion of the transaction, the chief operating officer now owns 1,384,057 shares in the company, valued at $8,636,515.68. This trade represents a 4.15 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 23.46% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of PRCH. Caprock Group LLC acquired a new position in shares of Porch Group during the 3rd quarter valued at $37,000. Citizens Financial Group Inc. RI lifted its position in shares of Porch Group by 128.6% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 400,000 shares of the company’s stock valued at $614,000 after acquiring an additional 225,000 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of 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 acquiring an additional 21,171 shares during the period. Portolan Capital Management LLC acquired a new position in shares of Porch Group during the 3rd quarter valued at $613,000. Finally, State Street Corp lifted its position in shares of Porch Group by 7.4% during the 3rd quarter. State Street Corp now owns 1,667,493 shares of the company’s stock valued at $2,560,000 after acquiring an additional 115,176 shares during the period. Institutional investors and hedge funds own 48.48% of the company’s stock.

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.