Porch Group, Inc. (NASDAQ:PRCH) COO Matthew Neagle Sells 27,328 Shares

Porch Group, Inc. (NASDAQ:PRCH) COO Matthew Neagle sold 27,328 shares of Porch Group stock in a transaction on 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 sale, the chief operating officer now owns 1,356,729 shares of the company’s stock, valued at $9,483,535.71. This represents a 1.97 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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 transaction of $374,400.00.

Porch Group Price Performance

Shares of PRCH stock traded down $0.38 during trading hours on Wednesday, reaching $7.58. The company had a trading volume of 3,522,669 shares, compared to its average volume of 1,747,841. The business has a fifty day simple moving average of $5.32 and a 200-day simple moving average of $3.89. Porch Group, Inc. has a 12 month low of $1.05 and a 12 month high of $8.06. The company has a market cap of $910.09 million, a price-to-earnings ratio of -10.83 and a beta of 2.04.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Caprock Group LLC bought a new position in shares of Porch Group during the 3rd quarter worth approximately $37,000. Charles Schwab Investment Management Inc. increased its position in shares of Porch Group by 9.8% during the third 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 bought a new stake in Porch Group during the third quarter worth $613,000. State Street Corp boosted its position in Porch Group by 7.4% in the third quarter. State Street Corp now owns 1,667,493 shares of the company’s stock worth $2,560,000 after purchasing an additional 115,176 shares during the last quarter. Finally, Zacks Investment Management bought a new position in Porch Group in the 3rd quarter valued at $32,000. 48.48% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on PRCH. Keefe, Bruyette & Woods upped 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. Craig Hallum increased their price target on Porch Group from $4.00 to $8.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Benchmark raised their price objective on Porch Group from $7.00 to $10.00 and gave the company a “buy” rating in a research note on Wednesday, February 26th. Stephens upped their target price on Porch Group from $8.00 to $10.00 and gave the stock an “overweight” rating in a research report on Friday, March 21st. Finally, Loop Capital raised shares of Porch Group from a “hold” rating to a “buy” rating and set a $6.00 price target for the company in a research report on Wednesday, February 26th. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $7.03.

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.