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

Porch Group (NASDAQ:PRCH) had its price target lifted by Benchmark from $7.00 to $10.00 in a research note published on Wednesday morning,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other equities research analysts also recently commented on the company. Craig Hallum increased their price objective on Porch Group from $4.00 to $8.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Stephens increased their target price on Porch Group from $4.00 to $5.00 and gave the company an “overweight” rating in a report on Monday, November 11th. Oppenheimer increased 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. Finally, Loop Capital upgraded Porch Group from a “hold” rating to a “buy” rating and set a $6.00 target price for the company in a report on Wednesday. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $5.84.

Porch Group Stock Performance

Shares of NASDAQ:PRCH opened at $6.60 on Wednesday. Porch Group has a one year low of $1.05 and a one year high of $6.92. The stock has a fifty day moving average of $4.77 and a 200-day moving average of $3.18. The company has a market capitalization of $788.99 million, a PE ratio of -9.43 and a beta of 2.03.

Insider Transactions at Porch Group

In other news, CFO Shawn Tabak sold 21,774 shares of the company’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $6.00, for a total value of $130,644.00. Following the transaction, the chief financial officer now directly owns 287,839 shares of the company’s stock, valued at approximately $1,727,034. This represents a 7.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 23.46% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Porch Group

A number of hedge funds have recently modified their holdings of PRCH. Nisa Investment Advisors LLC increased its position in Porch Group by 5,776.1% during the fourth quarter. Nisa Investment Advisors LLC now owns 6,640 shares of the company’s stock worth $33,000 after buying an additional 6,527 shares during the last quarter. Jones Financial Companies Lllp acquired a new position in Porch Group during the fourth quarter worth $35,000. Rik Saylor Financial Inc. acquired a new position in Porch Group during the fourth quarter worth $49,000. Raymond James Financial Inc. acquired a new position in Porch Group during the fourth quarter worth $50,000. Finally, GAMMA Investing LLC acquired a new position in Porch Group during the fourth quarter worth $50,000. 48.48% of the stock is owned by institutional investors and hedge funds.

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.