Porch Group, Inc. (NASDAQ:PRCH) COO Sells $191,022.72 in Stock

Porch Group, Inc. (NASDAQ:PRCH) COO Matthew Neagle sold 27,328 shares of the company’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $6.99, for a total transaction of $191,022.72. Following the completion of the transaction, the chief operating officer now owns 1,356,729 shares in the company, valued at approximately $9,483,535.71. This trade represents a 1.97 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Matthew Neagle also recently made the following trade(s):

• On Monday, March 17th, Matthew Neagle sold 60,000 shares of Porch Group stock. The stock was sold at an average price of $6.24, for a total value of $374,400.00.

Porch Group Stock Down 2.9 %

Porch Group stock opened at $7.36 on Friday. The stock has a market cap of $883.67 million, a PE ratio of -10.51 and a beta of 2.04. Porch Group, Inc. has a 12-month low of $1.05 and a 12-month high of $8.49. The business’s 50-day moving average price is $5.43 and its two-hundred day moving average price is $3.94.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on PRCH. Craig Hallum increased their target price on Porch Group from $4.00 to $8.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Loop Capital upgraded Porch Group from a “hold” rating to a “buy” rating and set a $6.00 price objective on the stock in a research report on Wednesday, February 26th. Stephens boosted their target price on shares of Porch Group from $8.00 to $10.00 and gave the company an “overweight” rating in a research report on Friday, March 21st. Benchmark raised their price target 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, 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 report on Monday, March 3rd. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $7.03.

Institutional Investors Weigh In On Porch Group

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Caprock Group LLC bought a new position in Porch Group in the 3rd quarter valued at approximately $37,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Porch Group by 9.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 236,351 shares of the company’s stock valued at $363,000 after acquiring an additional 21,171 shares during the last quarter. Portolan Capital Management LLC acquired a new stake in shares of Porch Group during the 3rd quarter valued at $613,000. State Street Corp grew its position in Porch Group by 7.4% during the 3rd quarter. State Street Corp now owns 1,667,493 shares of the company’s stock worth $2,560,000 after acquiring an additional 115,176 shares during the last quarter. Finally, Zacks Investment Management acquired a new position in Porch Group in the 3rd quarter worth about $32,000. 48.48% of the stock is owned by institutional investors.

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.