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

Porch Group, Inc. (NASDAQ:PRCH - Get Free Report) COO Matthew Neagle sold 60,000 shares of the firm's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $9.94, for a total transaction of $596,400.00. Following the sale, the chief operating officer now owns 1,078,080 shares in the company, valued at approximately $10,716,115.20. This represents a 5.27% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

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

• On Monday, May 19th, Matthew Neagle sold 60,000 shares of Porch Group stock. The shares were sold at an average price of $10.53, for a total transaction of $631,800.00.
• On Monday, May 12th, Matthew Neagle sold 250,000 shares of Porch Group stock. The shares were sold at an average price of $10.23, for a total transaction of $2,557,500.00.
• On Monday, March 24th, Matthew Neagle sold 27,328 shares of Porch Group stock. The stock was sold at an average price of $6.99, for a total transaction of $191,022.72.
• 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 value of $374,400.00.

Porch Group Trading Up 0.7%

Shares of PRCH stock traded up $0.07 during trading hours on Tuesday, hitting $9.42. 1,057,196 shares of the company were exchanged, compared to its average volume of 2,112,939. The business has a 50 day moving average of $7.50 and a two-hundred day moving average of $5.92. The company has a market capitalization of $1.14 billion, a PE ratio of -13.46 and a beta of 2.44. Porch Group, Inc. has a 52 week low of $1.05 and a 52 week high of $12.20.

Porch Group (NASDAQ:PRCH - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $0.02 earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.09. The firm had revenue of $104.75 million for the quarter, compared to the consensus estimate of $79.44 million. On average, research analysts forecast that Porch Group, Inc. will post -0.63 EPS for the current year.

Institutional Trading of Porch Group

Several institutional investors and hedge funds have recently modified their holdings of PRCH. FNY Investment Advisers LLC purchased a new stake in shares of Porch Group during the 1st quarter valued at approximately $29,000. Nisa Investment Advisors LLC boosted its holdings in shares of Porch Group by 5,776.1% during the fourth quarter. Nisa Investment Advisors LLC now owns 6,640 shares of the company's stock worth $33,000 after purchasing an additional 6,527 shares during the period. Jones Financial Companies Lllp purchased a new position in Porch Group during the 4th quarter valued at $35,000. Rik Saylor Financial Inc. purchased a new stake in shares of Porch Group in the 4th quarter worth about $49,000. Finally, Raymond James Financial Inc. purchased a new position in shares of Porch Group in the 4th quarter worth about $50,000. 48.48% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have weighed in on PRCH shares. Keefe, Bruyette & Woods raised their price target on Porch Group from $6.00 to $7.00 and gave the stock a "market perform" rating in a research report on Wednesday, May 7th. Stephens boosted their price target on Porch Group from $8.00 to $10.00 and gave the company an "overweight" rating in a research report on Friday, March 21st. Oppenheimer raised their target price on shares of Porch Group from $8.00 to $9.00 and gave the company an "outperform" rating in a research note on Wednesday, May 7th. Loop Capital reaffirmed a "buy" rating and issued a $13.00 price objective (up previously from $6.00) on shares of Porch Group in a research report on Wednesday, May 14th. Finally, Benchmark lifted their target price on Porch Group from $10.00 to $12.00 and gave the stock a "buy" rating in a research report on Wednesday, May 7th. One equities 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 stock. According to MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $8.89.

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.