Investors Purchase Large Volume of Porch Group Call Options (NASDAQ:PRCH)

Porch Group, Inc. (NASDAQ:PRCH - Get Free Report) was the recipient of some unusual options trading activity on Wednesday. Stock investors purchased 9,845 call options on the company. This is an increase of approximately 945% compared to the average daily volume of 942 call options.

Insider Activity

In other news, COO Matthew Neagle sold 27,328 shares of Porch Group stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $6.99, for a total transaction of $191,022.72. Following the transaction, the chief operating officer now directly owns 1,356,729 shares of the company's stock, valued at $9,483,535.71. The trade was a 1.97 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Shawn Tabak sold 10,000 shares of the stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $5.34, for a total transaction of $53,400.00. Following the completion of the sale, the chief financial officer now directly owns 218,580 shares of the company's stock, valued at $1,167,217.20. This represents a 4.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 205,554 shares of company stock valued at $1,273,590 in the last 90 days. Company insiders own 23.46% of the company's stock.

Institutional Investors Weigh In On Porch Group

Several institutional investors have recently made changes to their positions in PRCH. Barclays PLC increased its stake in Porch Group by 415.5% in the third quarter. Barclays PLC now owns 134,919 shares of the company's stock worth $207,000 after purchasing an additional 108,748 shares during the period. Geode Capital Management LLC raised its stake in Porch Group by 8.9% in the third quarter. Geode Capital Management LLC now owns 1,987,881 shares of the company's stock valued at $3,052,000 after buying an additional 163,133 shares during the last quarter. GAMMA Investing LLC acquired a new stake in Porch Group in the 4th quarter worth approximately $50,000. Moody National Bank Trust Division lifted its stake in shares of Porch Group by 11.5% during the fourth quarter. Moody National Bank Trust Division now owns 441,800 shares of the company's stock worth $2,174,000 after buying an additional 45,639 shares during the period. Finally, Nisa Investment Advisors LLC grew its stake in Porch Group by 5,776.1% during the 4th quarter. Nisa Investment Advisors LLC now owns 6,640 shares of the company's stock valued at $33,000 after purchasing an additional 6,527 shares during the last quarter. Institutional investors own 48.48% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on PRCH. Benchmark lifted their target price on shares of Porch Group from $10.00 to $12.00 and gave the company a "buy" rating in a research note on Wednesday. Oppenheimer upped their price objective on Porch Group from $8.00 to $9.00 and gave the stock an "outperform" rating in a research note on Wednesday. Keefe, Bruyette & Woods lifted 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. Stephens upped their price target on Porch Group from $8.00 to $10.00 and gave the stock an "overweight" rating in a research note on Friday, March 21st. Finally, Loop Capital raised shares of Porch Group from a "hold" rating to a "buy" rating and set a $6.00 price objective for the company in a report on Wednesday, February 26th. One equities research 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 company. According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $7.75.

Porch Group Stock Up 51.0 %

Porch Group stock traded up $3.23 during midday trading on Wednesday, reaching $9.57. 9,293,936 shares of the stock traded hands, compared to its average volume of 1,922,742. The stock has a market cap of $1.15 billion, a P/E ratio of -13.60 and a beta of 2.44. Porch Group has a 12 month low of $1.05 and a 12 month high of $9.90. The stock's fifty day moving average is $6.13 and its 200-day moving average is $4.86.

Porch Group (NASDAQ:PRCH - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.09. The business had revenue of $104.75 million for the quarter, compared to analysts' expectations of $79.44 million. On average, equities analysts predict that Porch Group will post -0.63 EPS for the current fiscal year.

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.

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