Porch Group (NASDAQ:PRCH) Stock Price Up 4.8% – Still a Buy?

Shares of Porch Group, Inc. (NASDAQ:PRCH) rose 4.8% on Wednesday . The company traded as high as $6.06 and last traded at $5.88. Approximately 424,992 shares changed hands during mid-day trading, a decline of 80% from the average daily volume of 2,145,583 shares. The stock had previously closed at $5.61.

Wall Street Analyst Weigh In

PRCH has been the topic of a number of recent analyst reports. Loop Capital raised Porch Group from a “hold” rating to a “buy” rating and set a $6.00 price objective on the stock in a research note on Wednesday, February 26th. Craig Hallum raised 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, December 6th. Keefe, Bruyette & Woods raised their price objective on Porch Group from $3.50 to $6.00 and gave the company a “market perform” rating in a research note on Monday, March 3rd. Oppenheimer raised their price objective on Porch Group from $7.00 to $8.00 and gave the company an “outperform” rating in a research note on Wednesday, February 26th. Finally, Benchmark raised their price objective on Porch Group from $7.00 to $10.00 and gave the company a “buy” rating in a research note on Wednesday, February 26th. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $6.41.

Porch Group Trading Up 6.5 %

The stock has a market cap of $713.18 million, a price-to-earnings ratio of -8.49 and a beta of 2.04. The stock has a fifty day simple moving average of $5.03 and a 200-day simple moving average of $3.55.

Insider Buying and Selling at Porch Group

In other news, CFO Shawn Tabak sold 108,226 shares of Porch Group stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $6.05, for a total transaction of $654,767.30. Following the sale, the chief financial officer now owns 179,613 shares of the company’s stock, valued at approximately $1,086,658.65. This trade represents a 37.60 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 23.46% of the company’s stock.

Institutional Trading of Porch Group

Institutional investors have recently modified their holdings of the company. Nisa Investment Advisors LLC grew its holdings in shares of Porch Group by 5,776.1% during the 4th quarter. Nisa Investment Advisors LLC now owns 6,640 shares of the company’s stock worth $33,000 after purchasing an additional 6,527 shares in the last quarter. Jones Financial Companies Lllp acquired a new stake in shares of Porch Group during the 4th quarter worth approximately $35,000. Rik Saylor Financial Inc. acquired a new stake in shares of Porch Group during the 4th quarter worth approximately $49,000. Raymond James Financial Inc. acquired a new stake in shares of Porch Group during the 4th quarter worth approximately $50,000. Finally, GAMMA Investing LLC acquired a new stake in shares of Porch Group during the 4th quarter worth approximately $50,000. 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.