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

Porch Group, Inc. (NASDAQ:PRCH - Get Free Report) COO Matthew Neagle sold 60,000 shares of the company's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $6.24, for a total transaction of $374,400.00. Following the completion of the sale, the chief operating officer now owns 1,384,057 shares in the company, valued at approximately $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 available at the SEC website.

Porch Group Stock Up 6.2 %

PRCH stock traded up $0.40 during mid-day trading on Friday, reaching $6.80. The company had a trading volume of 4,357,449 shares, compared to its average volume of 1,724,231. Porch Group, Inc. has a one year low of $1.05 and a one year high of $7.30. The stock has a market capitalization of $816.44 million, a P/E ratio of -9.71 and a beta of 2.04. The stock's 50-day simple moving average is $5.21 and its two-hundred day simple moving average is $3.79.

Institutional Trading of Porch Group

Several hedge funds have recently bought and sold shares of PRCH. Granahan Investment Management LLC increased its stake in shares of Porch Group by 19.0% in the fourth quarter. Granahan Investment Management LLC now owns 11,891,581 shares of the company's stock valued at $58,507,000 after purchasing an additional 1,897,816 shares during the period. Vanguard Group Inc. grew its holdings in Porch Group by 24.9% in the 4th 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 in the last quarter. Portolan Capital Management LLC increased its position in Porch Group by 476.0% in 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 during the period. Geode Capital Management LLC boosted its position 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 acquiring an additional 24,824 shares during the period. Finally, Renaissance Technologies LLC boosted its position 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 acquiring an additional 76,701 shares during the period. 48.48% of the stock is currently owned by institutional investors.

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Analysts Set New Price Targets

PRCH has been the topic of several research reports. Keefe, Bruyette & Woods upped their price objective 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. Benchmark upped their price target on Porch Group from $7.00 to $10.00 and gave the company a "buy" rating in a research report on Wednesday, February 26th. Craig Hallum lifted 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. 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 research note on Wednesday, February 26th. Finally, Oppenheimer raised their price target on shares of Porch Group from $7.00 to $8.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 26th. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Porch Group currently has an average rating of "Buy" and an average target price 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.