Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Porch Group Inc shares valued at $30,305 were sold by Tabak Shawn on Jun 06 ’24. At $2.02 per share, Tabak Shawn sold 15,000 shares. The insider’s holdings dropped to 295,142 shares worth approximately $0.38 million following the completion of this transaction.
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Also, Tabak Shawn sold 19,040 shares, netting a total of over 76,956 in proceeds. Following the sale of shares at $4.04 each, the insider now holds 292,311 shares.
Before that, Tabak Shawn had sold 30,282 shares from its account. In a trade valued at $116,796, the CHIEF FINANCIAL OFFICER traded Porch Group Inc shares for $3.86 each. Upon closing the transaction, the insider’s holdings decreased to 30,282 shares, worth approximately $0.44 million.
As published in a research note from Loop Capital on March 15, 2023, Porch Group Inc [PRCH] has been rated down from a Buy to a Hold and the price target has been revised to $2 from $4. Analysts at JP Morgan downgraded the stock from ‘”an Overweight”‘ to ‘”a Neutral”‘ outlook in a report released in early November. Earlier on July 25, 2022, Keefe Bruyette downgraded its rating. Their new recommendation was “a Mkt perform” for PRCH stock which previously was a “an Outperform”.
Analyzing PRCH Stock Performance
During the last five days, there has been a surge of approximately 11.11%. Over the course of the year, Porch Group Inc shares have dropped approximately -57.79%. Shares of the company reached a 52-week high of $4.7800 on 04/04/24 and a 52-week low of $1.0500 on 08/08/24. A 50-day SMA is recorded $1.7355, while a 200-day SMA reached $2.4496. Nevertheless, trading volume fell to 1.31 million shares from 1.06 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 1.2200, which, if violated, would cause prices to drop to 1.1400. In the upper region, resistance lies at 1.3400. The next price resistance is at 1.3800. RSI (Relative Strength Index) is 39.27 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.4065, which suggests the price will decrease in the coming days. Percent R is at 77.48%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
