Porch Group (NASDAQ:PRCH) Hits New 1-Year High – Still a Buy?

Porch Group, Inc. (NASDAQ:PRCH)’s share price hit a new 52-week high during trading on Tuesday . The stock traded as high as $5.50 and last traded at $4.70, with a volume of 3502662 shares trading hands. The stock had previously closed at $3.77.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on PRCH shares. Stephens upped their target price on shares of Porch Group from $4.00 to $5.00 and gave the company an “overweight” rating in a report on Monday, November 11th. Benchmark reaffirmed a “buy” rating and set a $7.00 price objective on shares of Porch Group in a report on Tuesday, October 29th. Craig Hallum boosted their target price on Porch Group from $3.00 to $4.00 and gave the company a “buy” rating in a report on Tuesday, October 29th. Oppenheimer dropped their price target on Porch Group from $4.50 to $3.50 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Finally, Cantor Fitzgerald upgraded shares of Porch Group to a “strong-buy” rating in a research report on Tuesday, August 13th. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $4.18.

Porch Group Price Performance

The firm has a market capitalization of $626.39 million, a PE ratio of -6.71 and a beta of 2.13. The company has a 50-day moving average price of $2.19 and a 200-day moving average price of $1.88.

Insider Buying and Selling

In other Porch Group news, CFO Shawn Tabak sold 15,000 shares of the business’s 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 sale, the chief financial officer now owns 278,298 shares of the company’s stock, valued at approximately $556,596. The trade was a 5.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 23.46% of the stock is owned by company insiders.

Institutional Trading of Porch Group

A number of institutional investors have recently modified their holdings of PRCH. Susquehanna Fundamental Investments LLC increased its position in shares of Porch Group by 34.5% in the second quarter. Susquehanna Fundamental Investments LLC now owns 37,489 shares of the company’s stock worth $57,000 after acquiring an additional 9,626 shares in the last quarter. Mackenzie Financial Corp increased its holdings in Porch Group by 102.4% in the 2nd quarter. Mackenzie Financial Corp now owns 23,908 shares of the company’s stock valued at $36,000 after purchasing an additional 12,097 shares in the last quarter. AE Wealth Management LLC raised its position in Porch Group by 7.5% in the second quarter. AE Wealth Management LLC now owns 241,879 shares of the company’s stock valued at $365,000 after purchasing an additional 16,793 shares during the period. Zacks Investment Management acquired a new position in shares of Porch Group during the third quarter worth about $32,000. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Porch Group by 9.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 236,351 shares of the company’s stock worth $363,000 after buying an additional 21,171 shares during the period. Hedge funds and other institutional investors 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.