Stephens Issues Positive Forecast for Porch Group (NASDAQ:PRCH) Stock Price

Porch Group (NASDAQ:PRCH) had its target price boosted by Stephens from $8.00 to $10.00 in a report issued on Friday,Benzinga reports. They currently have an overweight rating on the stock.

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

Porch Group Stock Performance

Porch Group stock opened at $6.80 on Friday. The stock’s 50 day moving average price is $5.21 and its 200 day moving average price is $3.77. The firm has a market capitalization of $816.44 million, a PE ratio of -9.71 and a beta of 2.04. Porch Group has a one year low of $1.05 and a one year high of $7.30.

Insider Buying and Selling

In other Porch Group news, COO Matthew Neagle sold 60,000 shares of the business’s stock in a transaction 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 approximately $8,636,515.68. The trade was a 4.15 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Shawn Tabak sold 108,226 shares of the business’s stock in a transaction on Wednesday, February 26th. The stock was 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 of the company’s stock, valued at $1,086,658.65. This trade represents a 37.60 % decrease in their position. The disclosure for this sale can be found here. 23.46% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Zacks Investment Management acquired a new position in Porch Group during the 3rd quarter worth $32,000. Nisa Investment Advisors LLC lifted its holdings in shares of Porch Group by 5,776.1% in the fourth quarter. Nisa Investment Advisors LLC now owns 6,640 shares of the company’s stock valued at $33,000 after buying an additional 6,527 shares during the period. Jones Financial Companies Lllp acquired a new stake in shares of Porch Group in the fourth quarter valued at $35,000. Caprock Group LLC acquired a new stake in shares of Porch Group in the third quarter valued at $37,000. Finally, Rik Saylor Financial Inc. acquired a new stake in shares of Porch Group in the fourth quarter valued at $49,000. Institutional investors and hedge funds own 48.48% of the company’s stock.

Porch Group Company Profile

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.