Porch Group (NASDAQ:PRCH) Stock Price 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 were traded during trading, a decline of 91% from the average session volume of 2,195,291 shares. The stock had previously closed at $13.31.

Wall Street Analysts Forecast Growth

Several research analysts have commented on PRCH shares. Loop Capital reiterated a "buy" rating and issued a $13.00 target price (up from $6.00) on shares of Porch Group in a report on Wednesday, May 14th. Benchmark raised their price objective 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. B. Riley began coverage on Porch Group in a report on Tuesday, July 1st. They issued a "buy" rating and a $15.00 target price for the company. Stephens lifted their price target on Porch Group from $8.00 to $10.00 and gave the company an "overweight" rating in a report on Friday, March 21st. Finally, Keefe, Bruyette & Woods increased their price objective on 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 given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Buy" and an average price target of $10.28.

Porch Group Trading Up 0.8%

The firm has a market capitalization of $1.50 billion, a price-to-earnings ratio of -88.43 and a beta of 2.67. The company has a fifty day moving average price of $10.70 and a 200-day moving average price of $7.29.

Porch Group (NASDAQ:PRCH - Get Free Report) last posted 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, sell-side analysts predict that Porch Group, Inc. will post -0.63 EPS for the current fiscal year.

Insider Activity

In other Porch Group news, COO Matthew Neagle sold 250,000 shares of the company's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $10.23, for a total transaction of $2,557,500.00. Following the completion of the sale, the chief operating officer directly owned 1,198,080 shares in the company, valued at $12,256,358.40. This 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 available at the SEC website. Also, Director Alan R. Pickerill sold 40,000 shares of Porch Group stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $11.26, for a total value of $450,400.00. Following the completion of the transaction, the director owned 182,416 shares in the company, valued at $2,054,004.16. The trade was a 17.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have 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 hedge funds and other institutional investors have recently modified their holdings of the stock. FNY Investment Advisers LLC bought a new stake in Porch Group in the 1st quarter valued at $29,000. Jones Financial Companies Lllp bought a new stake in shares of Porch Group in the fourth quarter valued at about $35,000. Raymond James Financial Inc. acquired a new stake in Porch Group during the fourth quarter worth about $50,000. Ameriprise Financial Inc. bought a new position in Porch Group during the fourth quarter valued at about $51,000. Finally, Tower Research Capital LLC TRC raised 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 valued at $54,000 after acquiring an additional 5,273 shares in the last quarter. Institutional investors and hedge funds own 48.48% of the company's stock.

Porch Group Company Profile

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.