Porch Group (NASDAQ:PRCH) Shares Down 6.3% - Time to Sell?

Porch Group, Inc. (NASDAQ:PRCH - Get Free Report)'s share price fell 6.3% during trading on Monday . The company traded as low as $6.10 and last traded at $5.98. 262,859 shares changed hands during trading, a decline of 86% from the average session volume of 1,875,168 shares. The stock had previously closed at $6.38.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Keefe, Bruyette & Woods upped their target price on Porch Group from $3.50 to $6.00 and gave the company a "market perform" rating in a research report on Monday, March 3rd. Stephens upped their price objective on shares of Porch Group from $8.00 to $10.00 and gave the stock an "overweight" rating in a research report on Friday, March 21st. Oppenheimer raised their target price on shares of Porch Group from $7.00 to $8.00 and gave the company an "outperform" rating in a report on Wednesday, February 26th. Benchmark upped their price target on shares of Porch Group from $7.00 to $10.00 and gave the stock a "buy" rating in a report on Wednesday, February 26th. Finally, Loop Capital raised shares of Porch Group from a "hold" rating to a "buy" rating and set a $6.00 price objective on the stock in a research note on Wednesday, February 26th. One analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $7.32.

Porch Group Stock Performance

The firm has a market cap of $728.91 million, a P/E ratio of -8.74 and a beta of 2.44. The company's 50 day moving average is $6.15 and its 200 day moving average is $4.81.

Insider Activity at Porch Group

In related news, 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 value of $191,022.72. Following the completion of the transaction, the chief operating officer now owns 1,356,729 shares in the company, valued at $9,483,535.71. This trade represents a 1.97 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Shawn Tabak sold 108,226 shares of Porch Group stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $6.05, for a total transaction of $654,767.30. Following the sale, the chief financial officer now owns 179,613 shares in the company, valued at approximately $1,086,658.65. This represents a 37.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 205,554 shares of company stock valued at $1,273,590 in the last 90 days. 23.46% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Porch Group

Institutional investors have recently made changes to their positions in the stock. FNY Investment Advisers LLC acquired a new position in shares of Porch Group in the first quarter worth approximately $29,000. Nisa Investment Advisors LLC lifted its position 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 purchasing an additional 6,527 shares during the period. Jones Financial Companies Lllp bought a new stake in shares of Porch Group in the 4th quarter valued at $35,000. Rik Saylor Financial Inc. acquired a new stake in shares of Porch Group during the fourth quarter worth $49,000. Finally, GAMMA Investing LLC bought a new position in Porch Group during the fourth quarter worth $50,000. Institutional investors own 48.48% of the company's stock.

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.

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