Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Porch Group Inc shares valued at $30,032 were sold by Tabak Shawn on Oct 28 ’24. At $2.00 per share, Tabak Shawn sold 15,000 shares. The insider’s holdings dropped to 278,298 shares worth approximately $1.32 million following the completion of this transaction.
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Also, Tabak Shawn purchased 15,000 shares, netting a total of over 29,380 in proceeds.
Before that, Tabak Shawn had sold 15,000 shares from its account. In a trade valued at $30,305, the CHIEF FINANCIAL OFFICER traded Porch Group Inc shares for $2.02 each. Upon closing the transaction, the insider’s holdings decreased to 15,000 shares, worth approximately $1.4 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 27.61%. Over the course of the year, Porch Group Inc shares have jumped approximately 54.55%. Shares of the company reached a 52-week high of $5.70 on 12/03/24 and a 52-week low of $1.05 on 08/08/24. A 50-day SMA is recorded $2.41, while a 200-day SMA reached $2.41. Nevertheless, trading volume fell to 2.42 million shares from 2.85 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 4.43, which, if violated, would cause prices to drop to 4.10. In the upper region, resistance lies at 5.31. The next price resistance is at 5.86. RSI (Relative Strength Index) is 66.58 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.38, which suggests the price will increase in the coming days. Percent R is at 31.76%, indicating low price movement. Stochastics %K at selling indicates that the stock is to be held.
