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 the firm’s stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $6.99, for a total value of $191,022.72. Following the completion of the transaction, the chief operating officer now directly owns 1,356,729 shares in the company, valued at $9,483,535.71. The trade was a 1.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

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 Stock Performance

NASDAQ PRCH opened at $7.58 on Thursday. The stock has a market capitalization of $910.09 million, a P/E ratio of -10.83 and a beta of 2.04. Porch Group, Inc. has a 52 week low of $1.05 and a 52 week high of $8.49. The stock has a fifty day moving average of $5.38 and a 200-day moving average of $3.92.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Stephens lifted 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. Benchmark boosted their price objective on Porch Group from $7.00 to $10.00 and gave the company a “buy” rating in a research report on Wednesday, February 26th. Oppenheimer upped 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. Keefe, Bruyette & Woods lifted their price target on shares of Porch Group from $3.50 to $6.00 and gave the stock a “market perform” rating in a research note on Monday, March 3rd. Finally, Loop Capital raised shares of Porch Group from a “hold” rating to a “buy” rating and set a $6.00 price objective for the company in a report on Wednesday, February 26th. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $7.03.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in PRCH. Zacks Investment Management bought a new stake in shares of Porch Group during the 3rd quarter valued at $32,000. Nisa Investment Advisors LLC increased its holdings in 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 purchasing an additional 6,527 shares during the last quarter. Jones Financial Companies Lllp acquired a new position in Porch Group in the fourth quarter valued at about $35,000. Caprock Group LLC bought a new position in Porch Group during the third quarter worth about $37,000. Finally, Rik Saylor Financial Inc. acquired a new position in shares of Porch Group during the 4th quarter worth about $49,000. 48.48% of the stock is currently owned by institutional investors and hedge funds.

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.