Porch Group, Inc. (NASDAQ:PRCH) shares were down 13.3% during mid-day trading on Monday . The company traded as low as $19.14 and last traded at $19.26. Approximately 14,545 shares traded hands during trading, a decline of 99% from the average daily volume of 1,619,847 shares. The stock had previously closed at $22.22.
A number of equities analysts have recently issued reports on PRCH shares. Oppenheimer started coverage on Porch Group in a research report on Monday, June 28th. They set an “outperform” rating and a $28.00 price target on the stock. Zacks Investment Research cut Porch Group from a “buy” rating to a “hold” rating in a research note on Saturday, August 21st. Finally, Benchmark upped their price objective on Porch Group from $26.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, September 10th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $25.14.
The business has a 50 day simple moving average of $18.84 and a 200 day simple moving average of $17.67. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $1.79 billion, a PE ratio of -9.75 and a beta of 0.12.
In other news, COO Matthew Neagle sold 5,500 shares of the firm’s stock in a transaction dated Friday, August 27th. The stock was sold at an average price of $19.49, for a total value of $107,195.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last 90 days, insiders sold 24,800 shares of company stock valued at $532,392. Company insiders own 19.20% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. The PNC Financial Services Group Inc. acquired a new stake in Porch Group during the first quarter worth about $27,000. Macquarie Group Ltd. acquired a new stake in Porch Group during the second quarter worth about $38,000. Fifth Third Bancorp acquired a new stake in Porch Group in the second quarter valued at approximately $68,000. Cypress Point Wealth Management LLC acquired a new stake in Porch Group in the first quarter valued at approximately $69,000. Finally, Shell Asset Management Co. acquired a new stake in Porch Group in the second quarter valued at approximately $71,000. 67.04% of the stock is currently owned by hedge funds and other institutional investors.
About Porch Group (NASDAQ:PRCH)
Porch Group, Inc operates a software platform in the United States and Canada. It provides software and services under the ISN, HireAHelper, and Kandela brands to home services companies, such as home inspectors, homebuyers and homeowners, insurance carriers, moving companies, security companies, and TV/internet providers, as well as offers moving concierge services.
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