Loop Capital Reiterates Hold Rating for Porch Group (NASDAQ:PRCH)

Porch Group (NASDAQ:PRCH)‘s stock had its “hold” rating reaffirmed by equities research analysts at Loop Capital in a research report issued on Monday,Benzinga reports. They presently have a $6.00 price target on the stock. Loop Capital’s price objective points to a potential upside of 8.89% from the company’s previous close.

Several other research analysts have also weighed in on the stock. Cantor Fitzgerald raised shares of Porch Group to a “strong-buy” rating in a research note on Tuesday, August 13th. Stephens increased their target price on shares of Porch Group from $4.00 to $5.00 and gave the stock an “overweight” rating in a report on Monday, November 11th. Craig Hallum boosted their price target on shares of Porch Group from $4.00 to $8.00 and gave the company a “buy” rating in a report on Friday. Finally, Benchmark restated a “buy” rating and issued a $7.00 price objective on shares of Porch Group in a research report on Tuesday, October 29th. Two equities research 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. Based on data from MarketBeat, Porch Group has an average rating of “Moderate Buy” and an average price target of $4.91.

Porch Group Trading Up 15.8 %

NASDAQ:PRCH opened at $5.51 on Monday. Porch Group has a 1-year low of $1.05 and a 1-year high of $5.70. The firm has a market capitalization of $658.67 million, a price-to-earnings ratio of -7.87 and a beta of 2.13. The business’s 50-day moving average price is $2.53 and its two-hundred day moving average price is $1.96.

Insider Activity

In related news, CFO Shawn Tabak sold 15,000 shares of the stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $2.00, for a total transaction of $30,000.00. Following the completion of the transaction, the chief financial officer now directly owns 278,298 shares in the company, valued at approximately $556,596. This trade represents a 5.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 23.46% of the company’s stock.

Hedge Funds Weigh In On Porch Group

A number of large investors have recently bought and sold shares of PRCH. Franklin Resources Inc. acquired a new stake in shares of Porch Group in the third quarter valued at approximately $238,000. Barclays PLC lifted its position in Porch Group by 415.5% during the 3rd quarter. Barclays PLC now owns 134,919 shares of the company’s stock worth $207,000 after buying an additional 108,748 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Porch Group by 8.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,987,881 shares of the company’s stock worth $3,052,000 after buying an additional 163,133 shares during the last quarter. Zacks Investment Management bought a new position in shares of Porch Group in the 3rd quarter valued at about $32,000. Finally, State Street Corp grew its holdings in shares of Porch Group by 7.4% in the 3rd quarter. State Street Corp now owns 1,667,493 shares of the company’s stock valued at $2,560,000 after acquiring an additional 115,176 shares in the last quarter. Institutional investors and hedge funds own 48.48% of the company’s stock.

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.