Porch Group (NASDAQ:PRCH) Shares Down 4.2% – Should You Sell?

Porch Group, Inc. (NASDAQ:PRCH) shares traded down 4.2% on Thursday . The company traded as low as $4.34 and last traded at $4.34. 208,421 shares changed hands during trading, a decline of 83% from the average session volume of 1,193,907 shares. The stock had previously closed at $4.53.

Wall Street Analyst Weigh In

PRCH has been the topic of a number of recent research reports. Benchmark reiterated a “buy” rating and set a $7.00 price target on shares of Porch Group in a report on Tuesday, October 29th. Stephens lifted their target price on Porch Group from $4.00 to $5.00 and gave the stock an “overweight” rating in a report on Monday, November 11th. Craig Hallum increased their price target on Porch Group from $4.00 to $8.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Loop Capital reaffirmed a “hold” rating and issued a $6.00 price objective on shares of Porch Group in a research note on Monday, December 9th. Finally, Oppenheimer upped their target price on Porch Group from $4.00 to $7.00 and gave the company an “outperform” rating in a report on Monday, December 9th. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Porch Group has a consensus rating of “Moderate Buy” and an average price target of $5.34.

Porch Group Price Performance

The firm has a market cap of $527.17 million, a price-to-earnings ratio of -6.30 and a beta of 2.05. The firm has a 50 day moving average of $4.68 and a 200 day moving average of $2.73.

Porch Group (NASDAQ:PRCH) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.02) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.01). The firm had revenue of $111.20 million for the quarter. During the same quarter in the prior year, the business posted ($0.12) earnings per share. Equities analysts expect that Porch Group, Inc. will post -0.63 EPS for the current year.

Insider Transactions at Porch Group

In related news, CFO Shawn Tabak sold 15,000 shares of the firm’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $2.00, for a total value of $30,000.00. Following the transaction, the chief financial officer now owns 278,298 shares of the company’s stock, valued at approximately $556,596. This trade represents a 5.11 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 23.46% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Zacks Investment Management purchased a new stake in Porch Group in the 3rd quarter valued at $32,000. Nisa Investment Advisors LLC grew its stake in shares of Porch Group by 5,776.1% in the 4th quarter. Nisa Investment Advisors LLC now owns 6,640 shares of the company’s stock worth $33,000 after acquiring an additional 6,527 shares in the last quarter. Mackenzie Financial Corp raised its holdings in shares of Porch Group by 102.4% in the second quarter. Mackenzie Financial Corp now owns 23,908 shares of the company’s stock valued at $36,000 after purchasing an additional 12,097 shares during the last quarter. Caprock Group LLC bought a new position in shares of Porch Group during the third quarter valued at about $37,000. Finally, SG Americas Securities LLC purchased a new position in Porch Group during the third quarter worth about $42,000. Institutional investors 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.