Porch Group (NASDAQ:PRCH) Shares Down 5.3% – Should You Sell?

Porch Group, Inc. (NASDAQ:PRCH)’s share price fell 5.3% during mid-day trading on Wednesday . The company traded as low as $5.04 and last traded at $5.15. 457,782 shares were traded during mid-day trading, a decline of 75% from the average session volume of 1,812,678 shares. The stock had previously closed at $5.44.

Wall Street Analyst Weigh In

PRCH has been the subject of several recent analyst reports. Oppenheimer lifted their target price 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. Loop Capital upgraded shares of Porch Group from a “hold” rating to a “buy” rating and set a $6.00 price objective for the company in a report on Wednesday, February 26th. Keefe, Bruyette & Woods lifted their target price on Porch Group from $3.50 to $6.00 and gave the stock a “market perform” rating in a report on Monday, March 3rd. Benchmark upped their price target on Porch Group from $7.00 to $10.00 and gave the company a “buy” rating in a report on Wednesday, February 26th. Finally, Stephens lifted their price objective on Porch Group from $8.00 to $10.00 and gave the stock an “overweight” rating in a report on Friday, March 21st. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $7.32.

Porch Group Price Performance

The business has a 50-day moving average of $5.94 and a 200 day moving average of $4.45. The company has a market cap of $635.14 million, a PE ratio of -7.56 and a beta of 2.15.

Insider Transactions at Porch Group

In other Porch Group news, CFO Shawn Tabak sold 108,226 shares of the company’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $6.05, for a total value of $654,767.30. Following the completion of the sale, the chief financial officer now owns 179,613 shares in the company, valued at $1,086,658.65. This represents a 37.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO Matthew Neagle sold 60,000 shares of Porch Group stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $6.24, for a total value of $374,400.00. Following the transaction, the chief operating officer now directly owns 1,384,057 shares in the company, valued at approximately $8,636,515.68. The trade was a 4.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 205,554 shares of company stock worth $1,273,590 in the last three months. Corporate insiders own 23.46% of the company’s stock.

Hedge Funds Weigh In On Porch Group

A number of hedge funds have recently modified their holdings of PRCH. FNY Investment Advisers LLC purchased a new position in shares of Porch Group during the 1st quarter valued at $29,000. Nisa Investment Advisors LLC lifted 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 acquiring an additional 6,527 shares in the last quarter. Jones Financial Companies Lllp bought a new position in shares of Porch Group in the fourth quarter worth about $35,000. Rik Saylor Financial Inc. bought a new position in shares of Porch Group in the fourth quarter worth about $49,000. Finally, GAMMA Investing LLC purchased a new stake in shares of Porch Group during the fourth quarter worth about $50,000. 48.48% of the stock is currently owned by institutional investors.

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.