Porch Group (NASDAQ:PRCH) Earns Market Perform Rating from Keefe, Bruyette & Woods

Porch Group (NASDAQ:PRCH)‘s stock had its “market perform” rating reissued by research analysts at Keefe, Bruyette & Woods in a research report issued to clients and investors on Tuesday, Benzinga reports. They presently have a $3.75 target price on the stock. Keefe, Bruyette & Woods’ price target suggests a potential upside of 141.94% from the company’s previous close.

Other equities research analysts also recently issued reports about the stock. Stephens reiterated an “overweight” rating and set a $6.00 price objective on shares of Porch Group in a research note on Thursday, April 11th. Cantor Fitzgerald lifted their price target on shares of Porch Group from $3.00 to $5.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 3rd.

Porch Group Price Performance

Shares of NASDAQ PRCH traded up $0.04 during trading on Tuesday, hitting $1.55. 306,905 shares of the company were exchanged, compared to its average volume of 1,448,787. The firm’s fifty day moving average price is $2.37 and its 200 day moving average price is $2.87. Porch Group has a 1 year low of $0.50 and a 1 year high of $4.78. The company has a market cap of $153.74 million, a price-to-earnings ratio of -1.39 and a beta of 2.06.

Porch Group (NASDAQ:PRCH) last issued its quarterly earnings data on Wednesday, May 8th. The company reported ($0.21) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.33) by $0.12. The company had revenue of $115.44 million during the quarter, compared to analysts’ expectations of $102.60 million. On average, research analysts forecast that Porch Group will post -0.65 earnings per share for the current year.

Insider Activity

In other news, CFO Shawn Tabak sold 15,000 shares of the stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $2.02, for a total value of $30,300.00. Following the completion of the sale, the chief financial officer now owns 295,142 shares in the company, valued at $596,186.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 23.46% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Acadian Asset Management LLC raised its holdings in Porch Group by 28.1% in the 3rd quarter. Acadian Asset Management LLC now owns 68,870 shares of the company’s stock valued at $54,000 after acquiring an additional 15,101 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in Porch Group by 128.5% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 103,590 shares of the company’s stock valued at $83,000 after acquiring an additional 58,249 shares during the period. Moody National Bank Trust Division grew its position in Porch Group by 62.1% in the fourth quarter. Moody National Bank Trust Division now owns 317,377 shares of the company’s stock valued at $978,000 after acquiring an additional 121,629 shares during the period. SG Americas Securities LLC acquired a new position in Porch Group in the fourth quarter worth $53,000. Finally, Capital Advisors Inc. OK acquired a new position in Porch Group in the fourth quarter worth $232,000. 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.