Porch Group (NASDAQ:PRCH) Given New $5.00 Price Target at Stephens

Porch Group (NASDAQ:PRCH) had its target price boosted by Stephens from $4.00 to $5.00 in a report issued on Monday morning,Benzinga reports. They currently have an overweight rating on the stock.

A number of other research analysts have also commented on the stock. Oppenheimer reduced their price target on shares of Porch Group from $4.50 to $3.50 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Keefe, Bruyette & Woods reduced their price target on shares of Porch Group from $3.75 to $1.50 and set a “market perform” rating for the company in a research report on Thursday, August 8th. Cantor Fitzgerald upgraded shares of Porch Group to a “strong-buy” rating in a research report on Tuesday, August 13th. Benchmark reiterated a “buy” rating and issued a $7.00 target price on shares of Porch Group in a research report on Tuesday, October 29th. Finally, Northland Securities cut their target price on shares of Porch Group from $5.00 to $3.25 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $4.18.

Porch Group Price Performance

PRCH opened at $2.89 on Monday. The company has a fifty day moving average price of $1.71 and a 200-day moving average price of $1.87. The firm has a market capitalization of $343.25 million, a P/E ratio of -4.13 and a beta of 1.98. Porch Group has a one year low of $1.05 and a one year high of $4.78.

Insider Buying and Selling

In other Porch Group news, CFO Shawn Tabak sold 15,000 shares of the company’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $2.00, for a total transaction 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 represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 23.46% of the stock is owned by company insiders.

Hedge Funds Weigh In On Porch Group

Hedge funds and other institutional investors have recently modified their holdings of the company. Mackenzie Financial Corp raised its stake in shares of Porch Group by 102.4% during the second quarter. Mackenzie Financial Corp now owns 23,908 shares of the company’s stock valued at $36,000 after acquiring an additional 12,097 shares during the last quarter. Caprock Group LLC purchased a new stake in shares of Porch Group during the third quarter valued at approximately $37,000. SG Americas Securities LLC purchased a new stake in shares of Porch Group during the third quarter valued at approximately $42,000. Alpine Global Management LLC purchased a new stake in shares of Porch Group during the first quarter valued at approximately $43,000. Finally, Los Angeles Capital Management LLC purchased a new stake in shares of Porch Group during the third quarter valued at approximately $46,000. 48.48% of the stock is owned by institutional investors.

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.