By otakuyassine3@gmail.com 
Porch Group, Inc. (NASDAQ:PRCH – Get Free Report) was up 6.7% during trading on Monday . The stock traded as high as $4.63 and last traded at $4.75. Approximately 331,474 shares changed hands during trading, a decline of 70% from the average daily volume of 1,089,829 shares. The stock had previously closed at $4.45.
Wall Street Analysts Forecast Growth
Several research analysts have recently issued reports on PRCH shares. Stephens upped their price objective on Porch Group from $4.00 to $5.00 and gave the company an “overweight” rating in a research note on Monday, November 11th. Loop Capital restated a “hold” rating and set a $6.00 price target on shares of Porch Group in a report on Monday, December 9th. Craig Hallum increased their target price on Porch Group from $4.00 to $8.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Benchmark reissued a “buy” rating and issued a $7.00 price target on shares of Porch Group in a research report on Tuesday, October 29th. Finally, Oppenheimer raised their target price on Porch Group from $4.00 to $7.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. Two analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $5.34.
Read Our Latest Stock Analysis on Porch Group
Porch Group Price Performance
The company has a market cap of $541.52 million, a PE ratio of -6.47 and a beta of 2.03. The business has a 50-day moving average of $4.82 and a 200 day moving average of $2.86.
Porch Group (NASDAQ:PRCH – Get Free Report) last released its quarterly earnings data on Thursday, November 7th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.01). The business had revenue of $111.20 million during the quarter. During the same period in the prior year, the business posted ($0.12) EPS. On average, equities analysts predict that Porch Group, Inc. will post -0.63 EPS for the current fiscal year.
Insider Buying and Selling at Porch Group
In related news, CFO Shawn Tabak sold 21,774 shares of Porch Group stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $6.00, for a total transaction of $130,644.00. Following the transaction, the chief financial officer now owns 287,839 shares in the company, valued at approximately $1,727,034. This trade represents a 7.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 23.46% of the company’s stock.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the business. Zacks Investment Management purchased a new stake in shares of Porch Group in the 3rd quarter valued at about $32,000. Nisa Investment Advisors LLC lifted its stake in shares of Porch Group by 5,776.1% during the 4th quarter. Nisa Investment Advisors LLC now owns 6,640 shares of the company’s stock worth $33,000 after purchasing an additional 6,527 shares during the period. Mackenzie Financial Corp lifted its stake in shares of Porch Group by 102.4% during the 2nd quarter. Mackenzie Financial Corp now owns 23,908 shares of the company’s stock worth $36,000 after purchasing an additional 12,097 shares during the period. Caprock Group LLC purchased a new position in shares of Porch Group in the 3rd quarter worth $37,000. Finally, SG Americas Securities LLC purchased a new position in shares of Porch Group in the 3rd quarter worth $42,000. 48.48% of the stock is 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.
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