Porch Group’s (PRCH) Hold Rating Reaffirmed at Loop Capital

Porch Group (NASDAQ:PRCH)‘s stock had its “hold” rating reissued by analysts at Loop Capital in a research note issued to investors on Monday,Benzinga reports. They currently have a $6.00 target price on the stock. Loop Capital’s price objective would indicate a potential upside of 8.89% from the company’s current price.

A number of other equities research analysts have also recently issued reports on PRCH. Benchmark reaffirmed a “buy” rating and issued a $7.00 target price on shares of Porch Group in a report on Tuesday, October 29th. Craig Hallum upped their price objective on Porch Group from $4.00 to $8.00 and gave the company a “buy” rating in a research note on Friday. Cantor Fitzgerald raised Porch Group to a “strong-buy” rating in a research report on Tuesday, August 13th. Finally, Stephens boosted 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. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $4.91.

Porch Group Trading Up 15.8 %

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

Insider Buying and Selling

In other news, CFO Shawn Tabak sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $2.00, for a total value 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. The trade was a 5.11 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 23.46% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Susquehanna Fundamental Investments LLC lifted its stake in Porch Group by 34.5% during the second quarter. Susquehanna Fundamental Investments LLC now owns 37,489 shares of the company’s stock worth $57,000 after purchasing an additional 9,626 shares during the last quarter. Mackenzie Financial Corp lifted its position 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 buying an additional 12,097 shares during the last quarter. AE Wealth Management LLC lifted its position in shares of Porch Group by 7.5% during the 2nd quarter. AE Wealth Management LLC now owns 241,879 shares of the company’s stock worth $365,000 after buying an additional 16,793 shares during the last quarter. Zacks Investment Management acquired a new stake in Porch Group in the third quarter valued at about $32,000. Finally, Charles Schwab Investment Management Inc. grew its position in Porch Group by 9.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 236,351 shares of the company’s stock valued at $363,000 after acquiring an additional 21,171 shares during the last quarter. 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.