Shares of Porch Group, Inc. (NASDAQ:PRCH) traded down 7.1% on Friday after an insider sold shares in the company. The stock traded as low as $16.83 and last traded at $16.94. 26,373 shares traded hands during trading, a decline of 98% from the average session volume of 1,639,801 shares. The stock had previously closed at $18.24.Specifically, COO Matthew Neagle sold 1,500 shares of the business’s stock in a transaction on Wednesday, September 15th. The stock was sold at an average price of $18.46, for a total value of $27,690.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Asha Sharma sold 103,360 shares of the business’s stock in a transaction on Friday, November 5th. The stock was sold at an average price of $22.58, for a total value of $2,333,868.80. The disclosure for this sale can be found here. Insiders have sold a total of 166,147 shares of company stock worth $3,613,300 in the last ninety days. 19.20% of the stock is owned by company insiders.
A number of equities research analysts have recently issued reports on PRCH shares. Guggenheim reaffirmed a “buy” rating on shares of Porch Group in a research report on Sunday, October 31st. Loop Capital started coverage on Porch Group in a research report on Monday, November 1st. They set a “buy” rating and a $30.00 target price on the stock. Benchmark boosted their target price on Porch Group from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Tuesday, November 16th. Northland Securities boosted their target price on Porch Group from $25.00 to $30.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 16th. Finally, Oppenheimer lifted their price target on Porch Group from $28.00 to $30.00 and gave the company an “outperform” rating in a report on Tuesday, November 16th. One research analyst has rated the stock with a sell rating and eight have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $26.44.
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The business has a 50 day simple moving average of $20.10 and a 200 day simple moving average of $19.24. The company has a debt-to-equity ratio of 2.17, a current ratio of 1.89 and a quick ratio of 1.89.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. FMR LLC grew its stake in Porch Group by 191.8% in the second quarter. FMR LLC now owns 14,429,155 shares of the company’s stock valued at $279,059,000 after purchasing an additional 9,485,106 shares in the last quarter. Southpoint Capital Advisors LP grew its stake in Porch Group by 25.5% in the third quarter. Southpoint Capital Advisors LP now owns 6,900,000 shares of the company’s stock valued at $121,992,000 after purchasing an additional 1,400,000 shares in the last quarter. Granahan Investment Management Inc. MA grew its stake in Porch Group by 10.6% in the third quarter. Granahan Investment Management Inc. MA now owns 5,354,138 shares of the company’s stock valued at $94,661,000 after purchasing an additional 512,102 shares in the last quarter. BlackRock Inc. grew its stake in Porch Group by 146.8% in the third quarter. BlackRock Inc. now owns 4,994,833 shares of the company’s stock valued at $88,311,000 after purchasing an additional 2,970,655 shares in the last quarter. Finally, Washington Harbour Partners LP grew its stake in Porch Group by 53.5% in the third quarter. Washington Harbour Partners LP now owns 3,751,491 shares of the company’s stock valued at $66,326,000 after purchasing an additional 1,307,466 shares in the last quarter. Hedge funds and other institutional investors own 68.46% of the company’s stock.
Porch Group Company Profile (NASDAQ:PRCH)
Porch Group, Inc operates a software platform in the United States and Canada. It provides software and services under the ISN, HireAHelper, and Kandela brands to home services companies, such as home inspectors, homebuyers and homeowners, insurance carriers, moving companies, security companies, and TV/internet providers, as well as offers moving concierge services.
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Read More: Porch Group (NASDAQ:PRCH) Stock Price Down 7.1% After Insider Selling