Porch Group (NASDAQ:PRCH) Trading Up 7.4% - Still a Buy?

Porch Group, Inc. (NASDAQ:PRCH - Get Free Report) shares traded up 7.4% during trading on Tuesday . The stock traded as high as $4.99 and last traded at $5.01. 160,580 shares were traded during mid-day trading, a decline of 91% from the average session volume of 1,827,620 shares. The stock had previously closed at $4.66.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Keefe, Bruyette & Woods boosted their price target on Porch Group from $3.50 to $6.00 and gave the stock a "market perform" rating in a research report on Monday, March 3rd. Oppenheimer upped their price objective on shares of Porch Group from $7.00 to $8.00 and gave the stock an "outperform" rating in a report on Wednesday, February 26th. Benchmark raised their target price on shares of Porch Group from $7.00 to $10.00 and gave the company a "buy" rating in a research note on Wednesday, February 26th. Loop Capital raised shares of Porch Group from a "hold" rating to a "buy" rating and set a $6.00 price target for the company in a research note on Wednesday, February 26th. Finally, Stephens raised their price objective 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 investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $7.32.

Porch Group Stock Performance

The company's 50 day moving average price is $5.98 and its 200-day moving average price is $4.63. The company has a market cap of $709.58 million, a price-to-earnings ratio of -8.44 and a beta of 2.15.

Insiders Place Their Bets

In other news, COO Matthew Neagle sold 60,000 shares of Porch Group stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $6.24, for a total transaction of $374,400.00. Following the completion of the sale, the chief operating officer now directly owns 1,384,057 shares in the company, valued at $8,636,515.68. The trade was a 4.15 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Shawn Tabak sold 108,226 shares of the firm's stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $6.05, for a total transaction of $654,767.30. Following the transaction, the chief financial officer now directly owns 179,613 shares in the company, valued at approximately $1,086,658.65. The trade was a 37.60 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 205,554 shares of company stock worth $1,273,590. Company insiders own 23.46% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. GAMMA Investing LLC boosted its holdings in Porch Group by 23.7% in the first quarter. GAMMA Investing LLC now owns 12,522 shares of the company's stock worth $91,000 after purchasing an additional 2,397 shares in the last quarter. FNY Investment Advisers LLC bought a new stake in shares of Porch Group during the 1st quarter worth about $29,000. Tower Research Capital LLC TRC lifted 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 purchasing an additional 5,273 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Porch Group by 22.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 30,524 shares of the company's stock valued at $151,000 after purchasing an additional 5,557 shares during the last quarter. Finally, Nisa Investment Advisors LLC raised its position in shares of Porch Group by 5,776.1% in the fourth quarter. Nisa Investment Advisors LLC now owns 6,640 shares of the company's stock valued at $33,000 after purchasing an additional 6,527 shares during the period. 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.