Buying Buzz: Porch Group Inc. [PRCH] Director Kell Sean Davis acquires 10,820 shares of the company

The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Porch Group Inc. shares valued at $49,988 were purchased by Kell Sean Davis on May 16. At $4.62 per share, Kell Sean Davis acquired 10,820 shares. The insider’s holdings grew to 10,820 shares worth approximately $20990.8 following the completion of this transaction.


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Also, Lam Rachel purchased 5,000 shares, netting a total of over 18,500 in proceeds. Following the buying of shares at $3.70 each, the insider now holds 9,630 shares.

Before that, Ehrlichman Matt had added 273,128 shares to its account. In a trade valued at $999,648, the CEO, CHAIRMAN AND FOUNDER bought Porch Group Inc. shares for $3.66 each. Upon closing the transaction, the insider’s holdings increased to 273,128 shares, worth approximately $18.61 million.

As published in a research note from Keefe Bruyette on July 25, 2022, Porch Group Inc. [PRCH] has been rated down from an Outperform to a Mkt perform and the price target has been revised to $3.25 from $5.25. This represents a 40.31% premium over Thursday’s closing price. Analysts at Compass Point started covering the stock with ‘”a Buy”‘ outlook in a report released in late May. As of May 23, 2022, JP Morgan has initiated its “an Overweight” rating for PRCH. Earlier on March 02, 2022, Oppenheimer resumed its rating. Their recommendation was “an Outperform” for PRCH stock.

Analyzing PRCH’s Price Performance

On Thursday, Porch Group Inc. [NASDAQ: PRCH] rose 6.59% to $1.94. The stock’s lowest price that day was $1.82, but it reached a high of $1.97 in the same session. During the last five days, there has been a drop of approximately -3.00%. Over the course of the year, Porch Group Inc. shares have dropped approximately -87.56%. Shares of the company reached a 52-week high of $16.2600 on 01/03/22 and a 52-week low of $1.8000 on 08/01/22. A 50-day SMA is recorded $2.8192, while a 200-day SMA reached $9.5900. Nevertheless, trading volume fell to 4.69 million shares from 2.21 million shares the previous day.

Support And Resistance Levels for Porch Group Inc. (PRCH)

According to the 24-hour chart, there is a support level at 1.8500, which, if violated, would cause prices to drop to 1.7600. In the upper region, resistance lies at 2.0000. The next price resistance is at 2.0600. RSI (Relative Strength Index) is 36.15 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.3155, which suggests the price will decrease in the coming days. Percent R is at 84.95%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

Is Porch Group Inc. subject to short interest?

Stocks of Porch Group Inc. saw a sharp rise in short interest on Jul 14, 2022 jumping by 0.93 million shares to 16.56 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 15.63 million shares. A jump of 5.62% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 7.42 of the overall float, the days-to-cover ratio (short ratio) jumped to 7.42.

Which companies own the most shares of Porch Group Inc. (PRCH)?

According to Vulcan Value Partners LLC filings, the company currently owns 12,871,645 shares, which is about 12.98% of the total PRCH shares outstanding. The investor’s shares have appreciated by 6,805,350 from its previous 13-F filing of 6066295.0 shares. With the completion of the buy transaction, Granahan Investment Management, L’s stake is now worth $25,595,028. Park West Asset Management LLC acquire a 88.89% interest valued at $24.96 million while Fidelity Management & Research Co sold a -5,855,847 stake. A total of 3,740,525 shares of Porch Group Inc. were sold by St. Denis J. Villere & Co. LLC during the quarter, and -715,000 were sold by Capital Research & Management Co. In its current portfolio, Southpoint Capital Advisors LP holds 4,750,000 shares valued at $12.16 million.

In terms of Porch Group Inc. share price expectations, FactSet research, analysts set an average price target of $11.16 in the next 12 months, up nearly 449.45% from the previous closing price of $1.82. Analysts anticipate Porch Group Inc. stock to reach $20.00 by 2022, with the lowest price target being $3.25. In spite of this, 11 analysts ranked Porch Group Inc. stock as a Buy at the end of 2022. On March 02, 2022, Northland Capital assigned a price target of “an Outperform” to the stock and reiterated coverage with a $25.

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