Porch Group (NASDAQ:PRCH) Trading Down 5.3% - Time to Sell?

Shares of Porch Group, Inc. (NASDAQ:PRCH - Get Free Report) traded down 5.3% during trading on Wednesday . The company traded as low as $5.04 and last traded at $5.15. 457,782 shares were traded during mid-day trading, a decline of 75% from the average session volume of 1,812,678 shares. The stock had previously closed at $5.44.

Analyst Upgrades and Downgrades

PRCH has been the subject of several research reports. Stephens boosted their price objective on shares of Porch Group from $8.00 to $10.00 and gave the company an "overweight" rating in a report on Friday, March 21st. Loop Capital upgraded Porch Group from a "hold" rating to a "buy" rating and set a $6.00 price objective for the company in a research note on Wednesday, February 26th. Benchmark lifted their price target on shares of Porch Group from $7.00 to $10.00 and gave the company a "buy" rating in a report on Wednesday, February 26th. Keefe, Bruyette & Woods upped 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 report on Monday, March 3rd. Finally, Oppenheimer raised their price objective on shares of Porch Group from $7.00 to $8.00 and gave the company an "outperform" rating in a research report on Wednesday, February 26th. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $7.32.

Porch Group Price Performance

The business has a 50-day moving average of $5.95 and a 200 day moving average of $4.50. The company has a market capitalization of $635.14 million, a PE ratio of -7.56 and a beta of 2.15.

Insider Transactions at Porch Group

In other news, CFO Shawn Tabak sold 10,000 shares of the company's stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $5.34, for a total transaction of $53,400.00. Following the sale, the chief financial officer now directly owns 218,580 shares in the company, valued at approximately $1,167,217.20. This represents a 4.37 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Matthew Neagle sold 27,328 shares of the stock in a transaction dated 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 directly owns 1,356,729 shares of the company's stock, valued at approximately $9,483,535.71. The trade was a 1.97 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 205,554 shares of company stock valued at $1,273,590 in the last ninety days. Corporate insiders own 23.46% of the company's stock.

Hedge Funds Weigh In On Porch Group

Several large investors have recently modified their holdings of the stock. FNY Investment Advisers LLC bought a new stake in Porch Group in the first quarter worth $29,000. Nisa Investment Advisors LLC lifted its holdings in shares of Porch Group by 5,776.1% in the 4th quarter. Nisa Investment Advisors LLC now owns 6,640 shares of the company's stock worth $33,000 after acquiring an additional 6,527 shares during the last quarter. Jones Financial Companies Lllp purchased a new position in shares of Porch Group during the 4th quarter worth about $35,000. Rik Saylor Financial Inc. bought a new position in Porch Group during the 4th quarter valued at about $49,000. Finally, GAMMA Investing LLC bought a new position in Porch Group during the 4th quarter valued at about $50,000. 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.