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

Porch Group, Inc. (NASDAQ:PRCH) COO Matthew Neagle sold 60,000 shares of Porch Group stock in a transaction dated 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 directly owns 1,384,057 shares in the company, valued at $8,636,515.68. This represents a 4.15 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Porch Group Stock Performance

Shares of NASDAQ PRCH opened at $6.40 on Friday. The stock has a market cap of $768.41 million, a price-to-earnings ratio of -9.14 and a beta of 2.04. The business has a 50 day simple moving average of $5.16 and a 200 day simple moving average of $3.73. Porch Group, Inc. has a 52 week low of $1.05 and a 52 week high of $7.30.

Institutional Investors Weigh In On Porch Group

Several large investors have recently made changes to their positions in the company. Jefferies Financial Group Inc. acquired a new stake in Porch Group in the 4th quarter worth approximately $4,135,000. Squarepoint Ops LLC acquired a new stake in Porch Group in the 4th quarter worth approximately $57,000. Two Sigma Advisers LP lifted its holdings in Porch Group by 44.1% in the 4th quarter. Two Sigma Advisers LP now owns 123,600 shares of the company’s stock worth $608,000 after purchasing an additional 37,800 shares during the last quarter. Two Sigma Investments LP lifted its holdings in Porch Group by 1,564.1% in the 4th quarter. Two Sigma Investments LP now owns 197,127 shares of the company’s stock worth $970,000 after purchasing an additional 185,281 shares during the last quarter. Finally, ProShare Advisors LLC lifted its holdings in Porch Group by 51.0% in the 4th quarter. ProShare Advisors LLC now owns 22,238 shares of the company’s stock worth $109,000 after purchasing an additional 7,506 shares during the last quarter. Institutional investors own 48.48% of the company’s stock.

Analysts Set New Price Targets

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

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.