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

Porch Group, Inc. (NASDAQ:PRCH) COO Matthew Neagle sold 27,328 shares of the company’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 transaction of $191,022.72. Following the completion of the transaction, the chief operating officer now owns 1,356,729 shares of the company’s stock, valued at $9,483,535.71. This trade represents a 1.97 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Matthew Neagle also recently made the following trade(s):

• On Monday, March 17th, Matthew Neagle sold 60,000 shares of Porch Group stock. The shares were sold at an average price of $6.24, for a total transaction of $374,400.00.

Porch Group Trading Down 2.9 %

NASDAQ PRCH opened at $7.36 on Friday. Porch Group, Inc. has a 12 month low of $1.05 and a 12 month high of $8.49. The stock has a 50 day moving average of $5.43 and a 200-day moving average of $3.94. The company has a market cap of $883.67 million, a PE ratio of -10.51 and a beta of 2.04.

Analyst Ratings Changes

Several analysts have issued reports on the company. Keefe, Bruyette & Woods lifted their price target 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. 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 report on Wednesday, February 26th. Benchmark upped their price target on Porch Group from $7.00 to $10.00 and gave the stock a “buy” rating in a research report on Wednesday, February 26th. 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. Finally, Stephens increased their target price on shares of Porch Group from $8.00 to $10.00 and gave the stock an “overweight” rating in a report on Friday, March 21st. One 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 company presently has a consensus rating of “Buy” and an average target price of $7.03.

Institutional Trading of Porch Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Caprock Group LLC acquired a new position in shares of Porch Group during the 3rd quarter worth about $37,000. Charles Schwab Investment Management Inc. raised its stake in Porch Group by 9.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 236,351 shares of the company’s stock valued at $363,000 after buying an additional 21,171 shares during the period. Portolan Capital Management LLC acquired a new stake in shares of Porch Group in the third quarter valued at approximately $613,000. State Street Corp boosted its stake in shares of Porch Group by 7.4% during the 3rd quarter. State Street Corp now owns 1,667,493 shares of the company’s stock worth $2,560,000 after acquiring an additional 115,176 shares during the period. Finally, Zacks Investment Management acquired a new position in shares of Porch Group during the 3rd quarter worth approximately $32,000. 48.48% of the stock is owned by institutional investors.

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.