Insider Selling: Porch Group Inc. (NASDAQ:PRCH) Director Sells 180,279 Shares of Stock

Porch Group Inc. (NASDAQ:PRCH) Director Asha Sharma sold 180,279 shares of the firm’s stock in a transaction on Monday, April 5th. The shares were sold at an average price of $17.37, for a total value of $3,131,446.23. Following the completion of the sale, the director now owns 59,941 shares in the company, valued at $1,041,175.17. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Shares of PRCH traded down $0.12 during midday trading on Wednesday, reaching $17.34. 3,283,899 shares of the stock were exchanged, compared to its average volume of 2,116,646. The firm has a 50-day simple moving average of $18.44. Porch Group Inc. has a twelve month low of $9.75 and a twelve month high of $24.41.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Penserra Capital Management LLC purchased a new position in shares of Porch Group during the fourth quarter worth about $203,000. Walleye Trading LLC purchased a new position in shares of Porch Group during the fourth quarter worth about $377,000. Walleye Capital LLC purchased a new position in shares of Porch Group during the fourth quarter worth about $497,000. CIBC World Markets Inc. purchased a new position in shares of Porch Group during the fourth quarter worth about $714,000. Finally, Garde Capital Inc. purchased a new position in shares of Porch Group during the fourth quarter worth about $715,000. Institutional investors and hedge funds own 97.76% of the company’s stock.

PRCH has been the topic of a number of research analyst reports. Craig Hallum initiated coverage on Porch Group in a research report on Thursday, April 1st. They set a “buy” rating and a $27.00 target price on the stock. Zacks Investment Research upgraded Porch Group from a “sell” rating to a “hold” rating in a research report on Thursday, March 18th. Northland Securities reiterated a “buy” rating on shares of Porch Group in a research report on Thursday, April 1st. Finally, Benchmark initiated coverage on Porch Group in a research report on Tuesday, December 29th. They set a “buy” rating and a $24.00 target price on the stock.

About Porch Group

Porch Group, Inc operates a software platform for home service companies. It provides moving concierge services that helps homebuyers to save time and make decisions on critical services, including insurance, moving, security, TV/internet, home repair and improvement, and others. The company was founded in 2011 and is based in Seattle, Washington.

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