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 firm’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $6.24, for a total transaction of $374,400.00. Following the sale, the chief operating officer now owns 1,384,057 shares of the company’s stock, valued at approximately $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 NASDAQ:PRCH traded up $0.02 during trading on Wednesday, hitting $6.27. 2,405,443 shares of the company were exchanged, compared to its average volume of 1,706,502. The stock has a market capitalization of $752.80 million, a P/E ratio of -8.96 and a beta of 2.04. Porch Group, Inc. has a 12-month low of $1.05 and a 12-month high of $7.30. The firm’s 50 day moving average price is $5.09 and its 200-day moving average price is $3.70.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on PRCH. Loop Capital upgraded 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. Benchmark lifted their price target on shares of Porch Group from $7.00 to $10.00 and gave the company a “buy” rating in a research report on Wednesday, February 26th. Keefe, Bruyette & Woods lifted their price target on shares of Porch Group from $3.50 to $6.00 and gave the company a “market perform” rating in a research report on Monday, March 3rd. Craig Hallum lifted their price target on shares of Porch Group from $4.00 to $8.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Finally, Oppenheimer lifted their price objective 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 equities 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 company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $6.41.

Institutional Trading of Porch Group

Institutional investors have recently modified their holdings of the stock. Zacks Investment Management purchased a new stake in shares of Porch Group during the 3rd quarter worth approximately $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 last quarter. Jones Financial Companies Lllp purchased a new stake in shares of Porch Group during the 4th quarter worth approximately $35,000. Caprock Group LLC purchased a new stake in shares of Porch Group during the 3rd quarter worth approximately $37,000. Finally, Los Angeles Capital Management LLC purchased a new stake in shares of Porch Group during the 3rd quarter worth approximately $46,000. Hedge funds and other 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.