Porch Group, Inc. (NASDAQ:PRCH - Get Free Report)'s stock price reached a new 52-week high on Monday . The stock traded as high as $12.89 and last traded at $12.47, with a volume of 558980 shares trading hands. The stock had previously closed at $12.28.
Analyst Upgrades and Downgrades
A number of analysts have recently commented on the company. Loop Capital reissued a "buy" rating and set a $13.00 price target (up from $6.00) on shares of Porch Group in a research note on Wednesday, May 14th. Oppenheimer boosted their target price on shares of Porch Group from $9.00 to $14.00 and gave the company an "outperform" rating in a research report on Wednesday, July 2nd. B. Riley initiated coverage on Porch Group in a report on Tuesday, July 1st. They set a "buy" rating and a $15.00 price objective for the company. Stephens raised their target price on Porch Group from $8.00 to $10.00 and gave the company an "overweight" rating in a report on Friday, March 21st. Finally, Benchmark upped their price objective on Porch Group from $10.00 to $12.00 and gave the company a "buy" rating in a research note on Wednesday, May 7th. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $10.28.
Get Our Latest Research Report on PRCH
Porch Group Price Performance
The company has a market cap of $1.52 billion, a PE ratio of -90.51 and a beta of 2.67. The company has a fifty day moving average price of $10.04 and a 200 day moving average price of $7.04.
Porch Group (NASDAQ:PRCH - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported $0.02 EPS for the quarter, beating analysts' consensus estimates of ($0.07) by $0.09. The firm had revenue of $104.75 million during the quarter, compared to the consensus estimate of $79.44 million. As a group, sell-side analysts predict that Porch Group, Inc. will post -0.63 EPS for the current fiscal year.
Insider Buying and Selling at Porch Group
In related news, COO Matthew Neagle sold 60,000 shares of Porch Group stock in a transaction on 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 owned 1,078,080 shares in the company, valued at $10,716,115.20. This trade represents a 5.27% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Alan R. Pickerill sold 40,000 shares of the firm's stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $11.26, for a total value of $450,400.00. Following the transaction, the director directly owned 182,416 shares in the company, valued at $2,054,004.16. This trade represents a 17.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 475,000 shares of company stock valued at $4,895,150. Insiders own 23.32% of the company's stock.
Hedge Funds Weigh In On Porch Group
A number of large investors have recently bought and sold shares of PRCH. Rhumbline Advisers increased its position in shares of Porch Group by 30.4% in the fourth quarter. Rhumbline Advisers now owns 77,277 shares of the company's stock valued at $380,000 after acquiring an additional 18,024 shares during the period. Jones Financial Companies Lllp bought a new stake in shares of Porch Group during the fourth quarter valued at approximately $35,000. Charles Schwab Investment Management Inc. lifted its position in Porch Group by 5.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 248,200 shares of the company's stock valued at $1,221,000 after buying an additional 11,849 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Porch Group in the 4th quarter worth about $50,000. Finally, Johnson Investment Counsel Inc. boosted its position in shares of Porch Group by 62.4% in the 4th quarter. Johnson Investment Counsel Inc. now owns 53,044 shares of the company's stock worth $261,000 after purchasing an additional 20,387 shares in the last quarter. 48.48% of the stock is owned by hedge funds and other institutional investors.
Porch Group Company Profile
(
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.
Further Reading
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