Porch Group, Inc. (NASDAQ:PRCH) COO Sells $374,400.00 in Stock

Porch Group, Inc. (NASDAQ:PRCH) COO Matthew Neagle sold 60,000 shares of the stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $6.24, for a total value of $374,400.00. Following the sale, the chief operating officer now owns 1,384,057 shares in the company, valued at approximately $8,636,515.68. This trade represents a 4.15 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Porch Group Price Performance

PRCH opened at $6.27 on Thursday. The firm has a 50 day simple moving average of $5.13 and a 200 day simple moving average of $3.71. Porch Group, Inc. has a fifty-two week low of $1.05 and a fifty-two week high of $7.30. The company has a market cap of $752.80 million, a price-to-earnings ratio of -8.96 and a beta of 2.04.

Analysts Set New Price Targets

PRCH has been the topic of several research analyst reports. Oppenheimer increased their target price on Porch Group from $7.00 to $8.00 and gave the stock an “outperform” rating in a report on Wednesday, February 26th. Craig Hallum increased their price objective on shares of Porch Group from $4.00 to $8.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Loop Capital raised shares of Porch Group from a “hold” rating to a “buy” rating and set a $6.00 target price for the company in a research note on Wednesday, February 26th. Benchmark increased their price target on shares of Porch Group from $7.00 to $10.00 and gave the company a “buy” rating 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 stock a “market perform” rating in a research report on Monday, March 3rd. One equities research 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 company. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $6.41.

Institutional Trading of Porch Group

A number of institutional investors have recently bought and sold shares of PRCH. Tower Research Capital LLC TRC lifted its stake in shares of Porch Group by 91.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 11,017 shares of the company’s stock valued at $54,000 after purchasing an additional 5,273 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in Porch Group by 22.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 30,524 shares of the company’s stock valued at $151,000 after buying an additional 5,557 shares during the period. Nisa Investment Advisors LLC boosted its holdings in Porch Group by 5,776.1% during the fourth 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 during the last quarter. Jones Financial Companies Lllp acquired a new position in shares of Porch Group during the 4th quarter worth about $35,000. Finally, ProShare Advisors LLC increased its stake in shares of Porch Group by 51.0% in the 4th quarter. ProShare Advisors LLC now owns 22,238 shares of the company’s stock valued at $109,000 after acquiring an additional 7,506 shares during the last quarter. Institutional investors and hedge funds own 48.48% of the company’s stock.

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.