Insider Selling: Porch Group, Inc. (NASDAQ:PRCH) COO Sells 60,000 Shares of Stock

Porch Group, Inc. (NASDAQ:PRCH) COO Matthew Neagle sold 60,000 shares of the company’s stock in a transaction on Monday, March 17th. The shares were 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 owns 1,384,057 shares of the company’s stock, valued at approximately $8,636,515.68. This trade represents a 4.15 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Porch Group Trading Up 0.3 %

Shares of NASDAQ:PRCH traded up $0.02 on Wednesday, reaching $6.27. 2,405,443 shares of the company were exchanged, compared to its average volume of 1,706,502. Porch Group, Inc. has a 1-year low of $1.05 and a 1-year high of $7.30. The firm has a market cap of $752.80 million, a price-to-earnings ratio of -8.96 and a beta of 2.04. The company has a 50-day moving average of $5.09 and a 200-day moving average of $3.70.

Institutional Investors Weigh In On Porch Group

Institutional investors and hedge funds have recently made changes to their positions in the business. Nisa Investment Advisors LLC boosted its position in shares of Porch Group by 5,776.1% in the 4th quarter. Nisa Investment Advisors LLC now owns 6,640 shares of the company’s stock worth $33,000 after buying an additional 6,527 shares in the last quarter. Jones Financial Companies Lllp purchased a new stake in shares of Porch Group in the 4th quarter worth about $35,000. Rik Saylor Financial Inc. purchased a new stake in shares of Porch Group in the 4th quarter worth about $49,000. Raymond James Financial Inc. purchased a new stake in shares of Porch Group in the 4th quarter worth about $50,000. Finally, GAMMA Investing LLC purchased a new stake in shares of Porch Group in the 4th quarter worth about $50,000. 48.48% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently commented on PRCH shares. Craig Hallum upped their price target on shares of Porch Group from $4.00 to $8.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Benchmark upped their price target on shares of Porch Group from $7.00 to $10.00 and gave the company a “buy” rating in a research report on Wednesday, February 26th. Oppenheimer boosted their price objective on shares of Porch Group from $7.00 to $8.00 and gave the company an “outperform” 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 objective on the stock in a research note on Wednesday, February 26th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Porch Group from $3.50 to $6.00 and gave the company a “market perform” rating in a research note on Monday, March 3rd. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $6.41.

About Porch Group

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.