Porch Group, Inc. (NASDAQ:PRCH - Get Free Report)'s share price reached a new 52-week high during trading on Friday . The company traded as high as $13.63 and last traded at $13.48, with a volume of 2012275 shares changing hands. The stock had previously closed at $13.00.
Wall Street Analyst Weigh In
A number of research firms have commented on PRCH. Loop Capital reissued a "buy" rating and issued a $13.00 target price (up previously from $6.00) on shares of Porch Group in a report on Wednesday, May 14th. Keefe, Bruyette & Woods raised their price target on Porch Group from $6.00 to $7.00 and gave the company a "market perform" rating in a research report on Wednesday, May 7th. B. Riley began coverage on Porch Group in a research report on Tuesday, July 1st. They issued a "buy" rating and a $15.00 price target for the company. Oppenheimer raised their price target on Porch Group from $9.00 to $14.00 and gave the company an "outperform" rating in a research report on Wednesday, July 2nd. Finally, Benchmark raised their price target on Porch Group from $10.00 to $12.00 and gave the company a "buy" rating in a research report on Wednesday, May 7th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $10.28.
Read Our Latest Stock Report on PRCH
Porch Group Stock Performance
The firm has a market cap of $1.64 billion, a PE ratio of -96.29 and a beta of 2.67. The stock has a fifty day moving average price of $11.03 and a 200-day moving average price of $7.46.
Porch Group (NASDAQ:PRCH - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported $0.02 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.07) by $0.09. The business had revenue of $104.75 million during the quarter, compared to analyst estimates of $79.44 million. As a group, equities analysts predict that Porch Group, Inc. will post -0.63 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other news, CFO Shawn Tabak sold 30,000 shares of the business's stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $11.23, for a total value of $336,900.00. Following the completion of the sale, the chief financial officer directly owned 172,671 shares in the company, valued at approximately $1,939,095.33. The trade was a 14.80% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Matthew Neagle sold 250,000 shares of the business's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $10.23, for a total value of $2,557,500.00. Following the completion of the sale, the chief operating officer owned 1,198,080 shares of the company's stock, valued at $12,256,358.40. This trade represents a 17.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 465,000 shares of company stock valued at $4,841,750. Company insiders own 23.32% of the company's stock.
Institutional Inflows and Outflows
A number of institutional investors have recently added to or reduced their stakes in PRCH. FNY Investment Advisers LLC bought a new position in Porch Group during the 1st quarter worth $29,000. Jones Financial Companies Lllp bought a new position in shares of Porch Group in the fourth quarter worth $35,000. Raymond James Financial Inc. bought a new position in shares of Porch Group in the fourth quarter worth $50,000. Ameriprise Financial Inc. bought a new position in shares of Porch Group in the fourth quarter worth $51,000. Finally, Tower Research Capital LLC TRC grew its stake in shares of Porch Group by 91.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 11,017 shares of the company's stock worth $54,000 after purchasing an additional 5,273 shares in the last quarter. 48.48% of the stock is currently owned by 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.
See Also
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