Shares of Porch Group, Inc. (NASDAQ:PRCH) have received a consensus recommendation of “Buy” from the seven analysts that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $26.40.
Several equities research analysts have issued reports on the company. Zacks Investment Research downgraded Porch Group from a “buy” rating to a “hold” rating in a report on Saturday, August 21st. Oppenheimer initiated coverage on Porch Group in a report on Monday, June 28th. They issued an “outperform” rating and a $28.00 price target for the company. Finally, Benchmark boosted their price target on Porch Group from $26.00 to $30.00 and gave the company a “buy” rating in a report on Friday, September 10th.
Shares of NASDAQ:PRCH traded down $0.91 during mid-day trading on Thursday, hitting $18.21. 28,499 shares of the company traded hands, compared to its average volume of 1,737,081. The firm has a market cap of $1.76 billion, a P/E ratio of -9.76 and a beta of 0.12. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.20 and a current ratio of 1.20. Porch Group has a 52-week low of $10.03 and a 52-week high of $24.41. The firm’s 50 day simple moving average is $18.82 and its 200 day simple moving average is $17.69.
In other Porch Group news, COO Matthew Neagle sold 1,500 shares of the business’s stock in a transaction on Friday, July 9th. The stock was sold at an average price of $19.49, for a total transaction of $29,235.00. Following the completion of the transaction, the chief operating officer now owns 322,250 shares in the company, valued at approximately $6,280,652.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold a total of 26,300 shares of company stock valued at $560,082 in the last quarter. 19.20% of the stock is currently owned by insiders.
Several institutional investors have recently made changes to their positions in PRCH. FMR LLC lifted its holdings in shares of Porch Group by 191.8% in the second quarter. FMR LLC now owns 14,429,155 shares of the company’s stock valued at $279,059,000 after buying an additional 9,485,106 shares during the period. Southpoint Capital Advisors LP acquired a new stake in shares of Porch Group during the first quarter worth $67,260,000. Sachem Head Capital Management LP acquired a new stake in shares of Porch Group during the first quarter worth $55,755,000. Polar Asset Management Partners Inc. acquired a new stake in shares of Porch Group during the first quarter worth $34,388,000. Finally, Washington Harbour Partners LP acquired a new stake in shares of Porch Group during the first quarter worth $31,234,000. Institutional investors and hedge funds own 67.04% of the company’s stock.
About Porch Group
Porch Group, Inc operates a software platform in the United States and Canada. It provides software and services under the ISN, HireAHelper, and Kandela brands to home services companies, such as home inspectors, homebuyers and homeowners, insurance carriers, moving companies, security companies, and TV/internet providers, as well as offers moving concierge services.
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