Porch Group (NASDAQ:PRCH) Trading Up 5.5% – Time to Buy?

Porch Group, Inc. (NASDAQ:PRCH) rose 5.5% on Friday . The stock traded as high as $5.25 and last traded at $5.22. Approximately 81,043 shares traded hands during mid-day trading, a decline of 91% from the average daily volume of 902,343 shares. The stock had previously closed at $4.95.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on PRCH shares. Benchmark reaffirmed a “buy” rating and set a $7.00 price target on shares of Porch Group in a research report on Tuesday, October 29th. Loop Capital reaffirmed a “hold” rating and set a $6.00 price target on shares of Porch Group in a report on Monday, December 9th. Oppenheimer boosted their price objective on shares of Porch Group from $4.00 to $7.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. Craig Hallum lifted their target price on Porch Group from $4.00 to $8.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Finally, Stephens increased their price target on Porch Group from $4.00 to $5.00 and gave the company 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $5.34.

Porch Group Stock Up 7.5 %

The firm’s 50 day moving average is $3.98 and its two-hundred day moving average is $2.38. The stock has a market cap of $635.97 million, a price-to-earnings ratio of -7.60 and a beta of 2.14.

Insider Buying and Selling at Porch Group

In other news, CFO Shawn Tabak sold 21,774 shares of the stock in a transaction 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 completion of the sale, the chief financial officer now owns 287,839 shares in the company, valued at approximately $1,727,034. This represents a 7.03 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 23.46% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Porch Group

Institutional investors and hedge funds have recently modified their holdings of the stock. Harbor Capital Advisors Inc. increased its stake in Porch Group by 186.6% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 3,774,909 shares of the company’s stock worth $5,794,000 after purchasing an additional 2,457,915 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of Porch Group by 53.8% in the second quarter. Renaissance Technologies LLC now owns 2,184,500 shares of the company’s stock worth $3,299,000 after acquiring an additional 763,800 shares in the last quarter. Franklin Resources Inc. acquired a new position in Porch Group in the 3rd quarter worth approximately $238,000. GSA Capital Partners LLP boosted its position in shares of Porch Group by 223.4% in the third quarter. GSA Capital Partners LLP now owns 1,532,616 shares of the company’s stock worth $2,353,000 after buying an additional 1,058,653 shares during the period. Finally, Citizens Financial Group Inc. RI lifted its position in shares of Porch Group by 128.6% in the third quarter. Citizens Financial Group Inc. RI now owns 400,000 shares of the company’s stock worth $614,000 after purchasing an additional 225,000 shares in the last quarter. 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.