Insider Selling: 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 completion of the transaction, the chief operating officer now owns 1,384,057 shares of the company’s stock, valued at $8,636,515.68. The trade was a 4.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Porch Group Stock Up 6.2 %

PRCH opened at $6.80 on Friday. Porch Group, Inc. has a 52 week low of $1.05 and a 52 week high of $7.30. The business has a fifty day simple moving average of $5.21 and a 200-day simple moving average of $3.77. The firm has a market cap of $816.44 million, a P/E ratio of -9.71 and a beta of 2.04.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on PRCH shares. Stephens increased their price objective on Porch Group from $8.00 to $10.00 and gave the stock an “overweight” rating in a research report on Friday. Benchmark increased their price objective on Porch Group from $7.00 to $10.00 and gave the stock a “buy” rating in a research report on Wednesday, February 26th. Loop Capital upgraded Porch Group from a “hold” rating to a “buy” rating and set a $6.00 price objective for the company in a research report on Wednesday, February 26th. Keefe, Bruyette & Woods increased their price objective on Porch Group from $3.50 to $6.00 and gave the stock a “market perform” rating in a research report on Monday, March 3rd. Finally, Craig Hallum raised their price target on Porch Group from $4.00 to $8.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. One research 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 stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $7.03.

Institutional Trading of Porch Group

Hedge funds have recently modified their holdings of the stock. Zacks Investment Management acquired a new stake in shares of Porch Group in the third quarter valued at $32,000. Nisa Investment Advisors LLC raised its stake in shares of Porch Group by 5,776.1% in the fourth quarter. Nisa Investment Advisors LLC now owns 6,640 shares of the company’s stock valued at $33,000 after acquiring an additional 6,527 shares in the last quarter. Jones Financial Companies Lllp acquired a new stake in shares of Porch Group in the fourth quarter valued at $35,000. Caprock Group LLC acquired a new stake in shares of Porch Group in the third quarter valued at $37,000. Finally, Los Angeles Capital Management LLC acquired a new stake in shares of Porch Group in the third quarter valued at $46,000. 48.48% of the stock is currently owned by institutional investors and hedge funds.

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.