Porch Group (NASDAQ:PRCH) Lowered to Hold at Loop Capital

Loop Capital downgraded shares of Porch Group (NASDAQ:PRCH – Get Rating) from a buy rating to a hold rating in a report released on Wednesday, MarketBeat Ratings reports. Loop Capital currently has $2.00 price target on the stock, down from their prior price target of $4.00.

Separately, Benchmark reissued a buy rating and issued a $14.00 target price on shares of Porch Group in a research report on Monday, March 13th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average price target of $7.03.

Porch Group Trading Down 8.8 %

Porch Group stock opened at $1.24 on Wednesday. The stock has a market capitalization of $124.69 million, a PE ratio of -0.79 and a beta of 1.00. The company has a debt-to-equity ratio of 3.69, a current ratio of 1.28 and a quick ratio of 1.28. The business’s fifty day moving average is $2.64 and its 200 day moving average is $2.17. Porch Group has a one year low of $0.94 and a one year high of $8.33.

Insider Transactions at Porch Group

In related news, major shareholder Park West Asset Management Llc acquired 530,750 shares of the firm’s stock in a transaction dated Monday, January 23rd. The shares were purchased at an average price of $2.60 per share, with a total value of $1,379,950.00. Following the completion of the purchase, the insider now directly owns 11,099,833 shares of the company’s stock, valued at $28,859,565.80. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have purchased 1,412,844 shares of company stock valued at $3,488,720 over the last quarter. 18.64% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Graham Capital Management L.P. bought a new stake in Porch Group during the 1st quarter valued at approximately $69,000. Centiva Capital LP bought a new stake in Porch Group during the 2nd quarter valued at approximately $29,000. Synovus Financial Corp bought a new stake in Porch Group during the 1st quarter valued at approximately $81,000. Dfpg Investments LLC bought a new stake in Porch Group during the 4th quarter valued at approximately $26,000. Finally, Bridgefront Capital LLC bought a new stake in Porch Group during the 1st quarter valued at approximately $92,000.

About Porch Group

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Porch Group, Inc operates a software platform in the United States and Canada. The company operates through two segments, Vertical Software and Insurance. The Vertical Software segment provides software and services to home services companies and gives early access to homebuyers and homeowners. It offers services to home services companies, such as home inspectors, consumers, such as homebuyers and homeowners, service providers, such as moving, insurance, warranty, and security companies, and TV/Internet providers.