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 $219,760 were purchased by Neagle Matthew on Aug 22. At $2.20 per share, Neagle Matthew acquired 100,000 shares. The insider’s holdings grew to 763,825 shares worth approximately $1.71 million following the completion of this transaction.
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Also, Kell Sean Davis purchased 16,100 shares, netting a total of over 50,457 in proceeds. Following the buying of shares at $3.13 each, the insider now holds 55,840 shares.
Before that, Kell Sean Davis had added 10,820 shares to its account. In a trade valued at $49,988, the Director bought Porch Group Inc. shares for $4.62 each. Upon closing the transaction, the insider’s holdings increased to 10,820 shares, worth approximately $24236.800000000003.
Analysts at Keefe Bruyette downgraded the stock from ‘”an Outperform”‘ to ‘”a Mkt perform”‘ outlook in a report released in late July. As of May 25, 2022, Compass Point has initiated its “Buy” rating for PRCH. Earlier on May 23, 2022, JP Morgan initiated its rating. Their recommendation was “an Overweight” for PRCH stock.
Analyzing PRCH’s Price Performance
On Wednesday, Porch Group Inc. [NASDAQ: PRCH] plunged -4.27% to $2.24. The stock’s lowest price that day was $2.1999, but it reached a high of $2.38 in the same session. During the last five days, there has been a drop of approximately -11.46%. Over the course of the year, Porch Group Inc. shares have dropped approximately -85.63%. Shares of the company reached a 52-week high of $16.26 on 01/03/22 and a 52-week low of $1.80 on 08/01/22. A 50-day SMA is recorded $2.42, while a 200-day SMA reached $6.46. Nevertheless, trading volume fell to 1.46 million shares from 0.87 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 2.17, which, if violated, would cause prices to drop to 2.09. In the upper region, resistance lies at 2.35. The next price resistance is at 2.45. RSI (Relative Strength Index) is 44.39 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.16, which suggests the price will decrease in the coming days. Percent R is at 69.85%, indicating low price movement. Stochastics %K at holding 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 10,027,757 shares, which is about 10.05% of the total PRCH shares outstanding. The investor’s shares have plunged by -2,843,888 from its previous 13-F filing of 12871645.0 shares. With the completion of the buy transaction, Granahan Investment Management, L’s stake is now worth $21,495,825. Park West Asset Management LLC reduced a -4.10% interest valued at $20.1 million while Capital Research & Management Co purchased a 1,412,748 stake. A total of 3,740,525 shares of Porch Group Inc. were bought by St. Denis J. Villere & Co. LLC during the quarter, and 527,227 were bought by BlackRock Fund Advisors. In its current portfolio, Fidelity Management & Research Co holds 3,947,344 shares valued at $8.49 million.