Insider Selling: Porch Group, Inc. (NASDAQ:PRCH) COO Sells 60,000 Shares of 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 value of $374,400.00. Following the sale, the chief operating officer now directly owns 1,384,057 shares in the company, valued at $8,636,515.68. This trade represents a 4.15 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Porch Group Price Performance

Shares of NASDAQ:PRCH opened at $6.80 on Friday. The stock has a market cap of $816.44 million, a P/E ratio of -9.71 and a beta of 2.04. The firm has a fifty day moving average price of $5.21 and a 200 day moving average price of $3.77. Porch Group, Inc. has a 1-year low of $1.05 and a 1-year high of $7.30.

Institutional Trading of Porch Group

A number of large investors have recently bought and sold shares of the business. Granahan Investment Management LLC boosted its stake in Porch Group by 19.0% during the 4th quarter. Granahan Investment Management LLC now owns 11,891,581 shares of the company’s stock worth $58,507,000 after purchasing an additional 1,897,816 shares during the period. Vanguard Group Inc. boosted its stake in Porch Group by 24.9% during the 4th quarter. Vanguard Group Inc. now owns 5,511,591 shares of the company’s stock worth $27,117,000 after purchasing an additional 1,100,224 shares during the period. Portolan Capital Management LLC boosted its stake in Porch Group by 476.0% during the 4th quarter. Portolan Capital Management LLC now owns 2,299,635 shares of the company’s stock worth $11,314,000 after purchasing an additional 1,900,416 shares during the period. Geode Capital Management LLC boosted its stake in Porch Group by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 2,012,705 shares of the company’s stock worth $9,905,000 after purchasing an additional 24,824 shares during the period. Finally, Renaissance Technologies LLC boosted its stake in Porch Group by 4.2% during the 4th quarter. Renaissance Technologies LLC now owns 1,910,102 shares of the company’s stock worth $9,398,000 after purchasing an additional 76,701 shares during the period. Institutional investors and hedge funds own 48.48% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on PRCH shares. Benchmark raised their price objective on shares of Porch Group from $7.00 to $10.00 and gave the stock a “buy” rating in a report on Wednesday, February 26th. Stephens upped their target price on shares of Porch Group from $8.00 to $10.00 and gave the company an “overweight” rating in a report on Friday. Keefe, Bruyette & Woods upped their target price 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. Oppenheimer upped their target price 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. Finally, Loop Capital upgraded shares of Porch Group from a “hold” rating to a “buy” rating and set a $6.00 target price for the company in a report on Wednesday, February 26th. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average 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.