Privia Health Group, Inc. (NASDAQ:PRVA) Given Average Rating of “Moderate Buy” by Brokerages

Privia Health Group, Inc. (NASDAQ:PRVA) has earned an average recommendation of “Moderate Buy” from the fourteen ratings firms that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation and eleven have issued a buy recommendation on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $31.1538.

A number of research firms have recently weighed in on PRVA. Citigroup reaffirmed a “buy” rating on shares of Privia Health Group in a research note on Thursday, July 23rd. Barclays decreased 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. Canaccord Genuity Group lowered their target price on shares of Privia Health Group from $35.00 to $34.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. Evercore set a $26.00 target price on shares of Privia Health Group in a report on Wednesday, April 8th. Finally, Zacks Research downgraded shares of Privia Health Group from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 7th.

Insider Buying and Selling

In related news, Director Matthew Shawn Morris sold 53,722 shares of the company’s stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $27.24, for a total value of $1,463,387.28. Following the sale, the director owned 68,188 shares in the company, valued at $1,857,441.12. This represents a 44.07% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Parth Mehrotra sold 15,647 shares of Privia Health Group stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $22.64, for a total value of $354,248.08. Following the transaction, the chief executive officer directly owned 434,357 shares of the company’s stock, valued at approximately $9,833,842.48. This represents a 3.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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. Insiders have sold a total of 452,357 shares of company stock worth $11,436,655 in the last quarter. Company insiders own 5.70% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Bayban purchased a new stake in shares of Privia Health Group in the 4th quarter worth about $26,000. Hantz Financial Services Inc. increased its holdings in Privia Health Group by 456.2% during the 4th quarter. Hantz Financial Services Inc. now owns 1,129 shares of the company’s stock valued at $27,000 after acquiring an additional 926 shares in the last quarter. Global Retirement Partners LLC increased its holdings in Privia Health Group by 579.8% during the 4th quarter. Global Retirement Partners LLC now owns 1,584 shares of the company’s stock valued at $38,000 after acquiring an additional 1,351 shares in the last quarter. Harbor Investment Advisory LLC acquired a new position in Privia Health Group during the second quarter worth about $69,000. Finally, Canada Pension Plan Investment Board raised its position in Privia Health Group by 48.0% during the second quarter. Canada Pension Plan Investment Board now owns 3,700 shares of the company’s stock worth $85,000 after acquiring an additional 1,200 shares during the last quarter. Institutional investors and hedge funds own 94.48% of the company’s stock.

Privia Health Group Stock Performance

Privia Health Group stock opened at $23.96 on Thursday. Privia Health Group has a one year low of $19.08 and a one year high of $28.82. The business has a fifty day moving average of $24.61 and a two-hundred day moving average of $23.36. The company has a market cap of $3.02 billion, a P/E ratio of 149.76, a price-to-earnings-growth ratio of 1.88 and a beta of 0.85.

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.