Porch Group (NASDAQ:PRCH) Rating Increased to Outperform at Keefe, Bruyette & Woods

Porch Group (NASDAQ:PRCH) was upgraded by research analysts at Keefe, Bruyette & Woods from a “market perform” rating to an “outperform” rating in a research report issued to clients and investors on Wednesday. The brokerage currently has a $10.50 price target on the stock. Keefe, Bruyette & Woods’ price objective would suggest a potential upside of 42.08% from the company’s current price.

A number of other research analysts also recently weighed in on the stock. Oppenheimer set a $20.00 price target on shares of Porch Group in a report on Thursday, November 6th. Benchmark reiterated a “buy” rating on shares of Porch Group in a report on Friday, January 16th. B. Riley Financial reissued a “buy” rating on shares of Porch Group in a research report on Thursday, November 6th. Zacks Research downgraded shares of Porch Group from a “hold” rating to a “strong sell” rating in a report on Monday, January 19th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Porch Group in a research note on Monday, December 29th. Eight analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $16.31.

Porch Group Stock Up 0.4%

Shares of Porch Group stock opened at $7.39 on Wednesday. The company has a market cap of $914.00 million, a P/E ratio of 25.48 and a beta of 3.08. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 36.18. The stock has a 50-day moving average price of $8.77 and a 200 day moving average price of $12.67. Porch Group has a 1 year low of $3.72 and a 1 year high of $19.44.

Insider Activity

In related news, CFO Shawn Tabak sold 24,294 shares of the business’s stock in a transaction on Monday, December 15th. The shares were sold at an average price of $9.66, for a total transaction of $234,680.04. Following the transaction, the chief financial officer owned 118,130 shares of the company’s stock, valued at approximately $1,141,135.80. The trade was a 17.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders have sold a total of 57,216 shares of company stock valued at $553,129 in the last 90 days. Company insiders own 23.32% of the company’s stock.

Institutional Trading of Porch Group

A number of hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in shares of Porch Group by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 7,314,207 shares of the company’s stock worth $66,779,000 after purchasing an additional 62,073 shares during the period. Invesco Ltd. grew its position in Porch Group by 448.4% during the third quarter. Invesco Ltd. now owns 3,795,064 shares of the company’s stock worth $63,681,000 after buying an additional 3,103,018 shares in the last quarter. Marshall Wace LLP grew its position in Porch Group by 55.2% during the second quarter. Marshall Wace LLP now owns 3,341,484 shares of the company’s stock worth $39,396,000 after buying an additional 1,188,273 shares in the last quarter. Divisadero Street Capital Management LP increased its stake in Porch Group by 6.7% during the third quarter. Divisadero Street Capital Management LP now owns 2,606,883 shares of the company’s stock valued at $43,743,000 after acquiring an additional 163,271 shares during the period. Finally, Gilder Gagnon Howe & Co. LLC raised its holdings in Porch Group by 41.3% in the 2nd quarter. Gilder Gagnon Howe & Co. LLC now owns 2,459,623 shares of the company’s stock valued at $28,999,000 after acquiring an additional 719,412 shares in the last quarter. 48.48% of the stock is owned by institutional investors.

About Porch Group

Porch Group, Inc operates a technology-driven home services platform designed to connect homeowners with professional contractors, maintenance providers and home improvement specialists. Through its online marketplace and proprietary software solutions, Porch enables users to research, compare and book services ranging from home repairs and remodeling to maintenance and renovations. The company’s platform integrates detailed provider profiles, customer reviews and real-time appointment scheduling to streamline the process of sourcing and managing home projects.

In addition to its core marketplace, Porch offers software products tailored for service professionals.