Porch Group (NASDAQ:PRCH) Trading Down 4.9% - Time to Sell?

Porch Group, Inc. (NASDAQ:PRCH - Get Free Report)'s stock price fell 4.9% on Friday . The company traded as low as $12.83 and last traded at $12.65. 194,079 shares traded hands during trading, a decline of 91% from the average session volume of 2,195,291 shares. The stock had previously closed at $13.31.

Analyst Ratings Changes

Several research analysts have issued reports on PRCH shares. 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 report on Wednesday, May 7th. Keefe, Bruyette & Woods boosted their price objective on shares of Porch Group from $6.00 to $7.00 and gave the stock a "market perform" rating in a report on Wednesday, May 7th. Oppenheimer boosted their price target on Porch Group from $9.00 to $14.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 2nd. Loop Capital reiterated a "buy" rating and issued a $13.00 price objective (up from $6.00) on shares of Porch Group in a report on Wednesday, May 14th. Finally, Stephens upped their target price on shares of Porch Group from $8.00 to $10.00 and gave the company an "overweight" rating in a research note on Friday, March 21st. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average target price of $10.28.

Porch Group Trading Down 7.7%

The stock has a market capitalization of $1.49 billion, a PE ratio of -87.71 and a beta of 2.67. The stock has a 50 day moving average price of $10.70 and a 200-day moving average price of $7.27.

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, topping the consensus estimate of ($0.07) by $0.09. The firm had revenue of $104.75 million during the quarter, compared to analysts' expectations of $79.44 million. Research analysts forecast that Porch Group, Inc. will post -0.63 earnings per share for the current year.

Insider Buying and Selling at Porch Group

In other Porch Group news, COO Matthew Neagle sold 250,000 shares of the 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 transaction, the chief operating officer directly owned 1,198,080 shares in the company, valued at approximately $12,256,358.40. This trade represents a 17.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Shawn Tabak sold 30,000 shares of the business's stock in a transaction 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 sale, the chief financial officer directly owned 172,671 shares of the company's stock, valued at approximately $1,939,095.33. The trade was a 14.80% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 475,000 shares of company stock worth $4,895,150 over the last quarter. Company insiders own 23.32% of the company's stock.

Hedge Funds Weigh In On Porch Group

A number of institutional investors have recently bought and sold shares of PRCH. FNY Investment Advisers LLC bought a new position in shares of Porch Group in the first quarter worth about $29,000. Jones Financial Companies Lllp bought a new stake in Porch Group during the 4th quarter worth approximately $35,000. Raymond James Financial Inc. bought a new position in shares of Porch Group in the fourth quarter worth approximately $50,000. Ameriprise Financial Inc. bought a new stake in shares of Porch Group during the 4th quarter valued at $51,000. Finally, Tower Research Capital LLC TRC boosted its holdings in Porch Group by 91.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 11,017 shares of the company's stock worth $54,000 after buying an additional 5,273 shares during the period. 48.48% of the stock is owned by institutional investors.

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.