Privia Health Group, Inc. (NASDAQ:PRVA) Receives $31.15 Average PT from Analysts

Privia Health Group, Inc. (NASDAQ:PRVA) has been assigned an average rating of “Moderate Buy” from the fourteen research firms that are currently covering the company, MarketBeat reports. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $31.1538.

Several equities analysts have issued reports on the stock. Jefferies Financial Group reaffirmed a “buy” rating and issued a $32.00 price target on shares of Privia Health Group in a report on Thursday, February 26th. Citigroup cut their price target on shares of Privia Health Group from $34.00 to $32.00 and set a “buy” rating on the stock in a report on Tuesday, March 3rd. Weiss Ratings lowered shares of Privia Health Group from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday, May 8th. Truist Financial lifted their price target on shares of Privia Health Group from $31.00 to $33.00 and gave the stock a “buy” rating in a report on Monday, March 2nd. Finally, Barclays dropped their price objective on shares of Privia Health Group from $25.00 to $24.00 and set an “equal weight” rating on the stock in a report on Tuesday, May 26th.

Insider Activity

In other news, CEO Parth Mehrotra sold 15,647 shares of the business’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $22.64, for a total transaction of $354,248.08. Following the sale, the chief executive officer directly owned 434,357 shares of the company’s stock, valued at $9,833,842.48. The trade was a 3.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO David Mountcastle sold 3,385 shares of the business’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $22.60, for a total transaction of $76,501.00. Following the sale, the chief financial officer directly owned 211,462 shares in the company, valued at $4,779,041.20. This trade represents a 1.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 156,535 shares of company stock valued at $3,586,903 over the last ninety days. 5.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Privia Health Group

Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in Privia Health Group by 5.3% in the third quarter. Vanguard Group Inc. now owns 12,098,933 shares of the company’s stock valued at $301,263,000 after purchasing an additional 607,447 shares during the last quarter. ArrowMark Colorado Holdings LLC boosted its holdings in Privia Health Group by 139.4% in the fourth quarter. ArrowMark Colorado Holdings LLC now owns 841,266 shares of the company’s stock valued at $19,946,000 after purchasing an additional 489,866 shares during the last quarter. Algert Global LLC boosted its holdings in Privia Health Group by 277.4% in the third quarter. Algert Global LLC now owns 484,304 shares of the company’s stock valued at $12,059,000 after purchasing an additional 355,966 shares during the last quarter. Freestone Grove Partners LP boosted its holdings in Privia Health Group by 40.6% in the fourth quarter. Freestone Grove Partners LP now owns 1,213,342 shares of the company’s stock valued at $28,768,000 after purchasing an additional 350,194 shares during the last quarter. Finally, Renaissance Group LLC purchased a new stake in Privia Health Group in the fourth quarter valued at $7,776,000. 94.48% of the stock is owned by hedge funds and other institutional investors.

Privia Health Group Stock Performance

NASDAQ PRVA opened at $23.67 on Wednesday. The firm’s fifty day simple moving average is $23.03 and its two-hundred day simple moving average is $22.92. Privia Health Group has a 12-month low of $18.77 and a 12-month high of $26.51. The firm has a market capitalization of $2.98 billion, a P/E ratio of 147.95, a P/E/G ratio of 1.71 and a beta of 0.90.

Privia Health Group (NASDAQ:PRVA) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.11. Privia Health Group had a net margin of 0.97% and a return on equity of 2.81%. The business had revenue of $603.85 million for the quarter, compared to analyst estimates of $560.99 million. During the same period in the previous year, the company earned $0.22 earnings per share. The business’s revenue for the quarter was up 25.8% on a year-over-year basis. As a group, sell-side analysts predict that Privia Health Group will post 0.29 earnings per share for the current fiscal year.

Privia Health Group Company Profile

Privia Health Group (NASDAQ: PRVA) is a physician enablement company that partners with independent physicians, medical groups and health systems to transform the delivery of patient care. Through a clinically integrated network and a proprietary technology platform, the company supports providers in managing population health, delivering coordinated care and optimizing financial performance under both fee-for-service and value-based reimbursement models.

Founded in 2016 and headquartered in McLean, Virginia, Privia Health has rapidly expanded its footprint to serve multiple metropolitan markets across the United States.