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

Porch Group, Inc. (NASDAQ:PRCH - Get Free Report) 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 transaction of $191,022.72. Following the completion of the sale, the chief operating officer now directly owns 1,356,729 shares in the company, valued at $9,483,535.71. This represents a 1.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available 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 stock was sold at an average price of $6.24, for a total transaction of $374,400.00.

Porch Group Trading Up 0.4 %

NASDAQ PRCH traded up $0.03 on Friday, hitting $7.39. The company's stock had a trading volume of 2,747,164 shares, compared to its average volume of 1,770,532. Porch Group, Inc. has a 52-week low of $1.05 and a 52-week high of $8.49. The firm has a market cap of $887.27 million, a P/E ratio of -10.56 and a beta of 2.04. The company's 50-day simple moving average is $5.49 and its 200 day simple moving average is $4.02.

Wall Street Analysts Forecast Growth

PRCH has been the subject of a number of recent research reports. Craig Hallum boosted their price objective on shares of Porch Group from $4.00 to $8.00 and gave the stock a "buy" rating in a report on Friday, December 6th. Benchmark boosted their price target on shares of Porch Group from $7.00 to $10.00 and gave the stock a "buy" rating in a research note on Wednesday, February 26th. Oppenheimer raised their price objective 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 boosted 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. Finally, Loop Capital upgraded 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 issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $7.03.

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Institutional Trading of Porch Group

Several large investors have recently added to or reduced their stakes in the stock. Granahan Investment Management LLC lifted its position in shares of Porch Group by 19.0% in 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. lifted its holdings in Porch Group by 24.9% in the fourth quarter. Vanguard Group Inc. now owns 5,511,591 shares of the company's stock worth $27,117,000 after buying an additional 1,100,224 shares during the period. Portolan Capital Management LLC boosted its position 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 valued at $11,314,000 after acquiring an additional 1,900,416 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of 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 acquiring an additional 24,824 shares during the period. Finally, Renaissance Technologies LLC raised its position in shares of Porch Group by 4.2% in the 4th quarter. Renaissance Technologies LLC now owns 1,910,102 shares of the company's stock worth $9,398,000 after acquiring an additional 76,701 shares in the last quarter. 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.