Shares of software platform Porch Group (NASDAQ: PRCH) jumped more than 23% after the company's CEO announced plans to purchase up to $5 million worth of shares. Currently, Matt Ehrlichman has a $27 million ownership in the company, qualifying him as an over 10% owner. His most recent purchase was for 256,949 shares at $1.59 per share, equating to a total value of $408,390. Interestingly, Matt Ehrlichman isn't the only insider that has been buying. Indeed, insiders purchased more than $1.1 million worth of PRCH shares in the past three months. As a result, TipRanks' insider confidence signal is currently very positive.
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