Porch Group, Inc. (NASDAQ:PRCH - Get Free Report) shares reached a new 52-week high during trading on Monday . The stock traded as high as $12.89 and last traded at $12.47, with a volume of 558980 shares. The stock had previously closed at $12.28.
Analyst Upgrades and Downgrades
A number of research analysts have recently issued reports on PRCH shares. Loop Capital reiterated a "buy" rating and issued a $13.00 price target (up from $6.00) on shares of Porch Group in a report on Wednesday, May 14th. Stephens raised their price target on Porch Group from $8.00 to $10.00 and gave the stock an "overweight" rating in a report on Friday, March 21st. Oppenheimer lifted their price objective on Porch Group from $9.00 to $14.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 2nd. Benchmark lifted their target price on shares of Porch Group from $10.00 to $12.00 and gave the stock a "buy" rating in a research note on Wednesday, May 7th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Porch Group from $6.00 to $7.00 and gave the stock a "market perform" rating in a research note on Wednesday, May 7th. One analyst has rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $10.28.
View Our Latest Report on PRCH
Porch Group Stock Performance
The firm's 50 day moving average is $10.44 and its 200-day moving average is $7.17. The firm has a market cap of $1.62 billion, a price-to-earnings ratio of -95.07 and a beta of 2.67.
Porch Group (NASDAQ:PRCH - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported $0.02 earnings per share for the quarter, topping analysts' consensus estimates of ($0.07) by $0.09. The firm had revenue of $104.75 million for the quarter, compared to analyst estimates of $79.44 million. As a group, research analysts predict that Porch Group, Inc. will post -0.63 EPS for the current year.
Insider Buying and Selling at Porch Group
In other Porch Group news, COO Matthew Neagle sold 60,000 shares of the business's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $9.94, for a total value of $596,400.00. Following the transaction, the chief operating officer directly owned 1,078,080 shares in the company, valued at $10,716,115.20. The trade was a 5.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Shawn Tabak sold 30,000 shares of the stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $11.23, for a total transaction of $336,900.00. Following the completion of the transaction, the chief financial officer owned 172,671 shares in the company, valued at $1,939,095.33. This represents a 14.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 475,000 shares of company stock worth $4,895,150. Insiders own 23.32% of the company's stock.
Institutional Investors Weigh In On Porch Group
Several large investors have recently made changes to their positions in the stock. Arrowstreet Capital Limited Partnership bought a new position in Porch Group in the fourth quarter valued at $176,000. Rhumbline Advisers grew its position in shares of Porch Group by 28.7% in the 1st quarter. Rhumbline Advisers now owns 99,436 shares of the company's stock valued at $725,000 after acquiring an additional 22,159 shares during the period. GAMMA Investing LLC grew its position in shares of Porch Group by 801.6% in the 1st quarter. GAMMA Investing LLC now owns 91,285 shares of the company's stock valued at $665,000 after acquiring an additional 81,160 shares during the period. Ameriprise Financial Inc. bought a new position in shares of Porch Group in the 4th quarter valued at about $51,000. Finally, JPMorgan Chase & Co. lifted its stake in shares of Porch Group by 225.1% during the 4th quarter. JPMorgan Chase & Co. now owns 730,340 shares of the company's stock worth $3,593,000 after buying an additional 505,660 shares during the last quarter. Institutional investors own 48.48% of the company's stock.
About Porch Group
(
Get Free Report)
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.
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