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

Porch Group, Inc. (NASDAQ:PRCH) COO Matthew Neagle sold 60,000 shares of the firm’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 transaction, the chief operating officer now owns 1,384,057 shares in the company, valued at $8,636,515.68. The trade was a 4.15 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Porch Group Price Performance

Shares of Porch Group stock opened at $6.27 on Thursday. Porch Group, Inc. has a 52-week low of $1.05 and a 52-week high of $7.30. The firm has a market capitalization of $752.80 million, a PE ratio of -8.96 and a beta of 2.04. The company’s fifty day moving average price is $5.13 and its two-hundred day moving average price is $3.71.

Analyst Ratings Changes

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

Institutional Trading of Porch Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Zacks Investment Management bought a new position in Porch Group during the third quarter worth about $32,000. Nisa Investment Advisors LLC lifted its position in shares of Porch Group by 5,776.1% during 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 during the period. Jones Financial Companies Lllp acquired a new stake in Porch Group in the 4th quarter valued at $35,000. Caprock Group LLC bought a new stake in Porch Group in the third quarter valued at $37,000. Finally, Los Angeles Capital Management LLC acquired a new position in Porch Group during the third quarter worth $46,000. Institutional investors 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.