Privia Health Group (NASDAQ:PRVA) Hits New 12-Month High – Should You Buy?

Privia Health Group, Inc. (NASDAQ:PRVA) shares reached a new 52-week high during trading on Tuesday . The company traded as high as $27.70 and last traded at $27.32, with a volume of 22161 shares trading hands. The stock had previously closed at $27.19.

Analyst Ratings Changes

Several research firms recently weighed in on PRVA. Barclays dropped their price target on Privia Health Group from $25.00 to $24.00 and set an “equal weight” rating on the stock in a research report on Tuesday, May 26th. Evercore set a $26.00 price objective on Privia Health Group in a research report on Wednesday, April 8th. Canaccord Genuity Group dropped 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 report on Friday, May 8th. Finally, Weiss Ratings raised shares of Privia Health Group from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, July 2nd. Eleven investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $31.15.

Privia Health Group Price Performance

The business has a 50 day moving average price of $23.65 and a 200 day moving average price of $23.08. The stock has a market capitalization of $3.43 billion, a PE ratio of 170.07, a PEG ratio of 2.15 and a beta of 0.83.

Insiders Place Their Bets

In other news, CEO Parth Mehrotra sold 15,647 shares of the business’s 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 completion of the transaction, the chief executive officer owned 434,357 shares in the company, valued at $9,833,842.48. The trade was a 3.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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, Director Matthew Shawn Morris sold 53,722 shares of the stock in a transaction on Monday, July 6th. The shares were sold at an average price of $27.24, for a total value of $1,463,387.28. Following the sale, the director directly owned 68,188 shares in the company, valued at $1,857,441.12. This trade represents a 44.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 456,980 shares of company stock valued at $11,493,887. Corporate insiders own 5.70% of the company’s stock.

Hedge Funds Weigh In On Privia Health Group

Several hedge funds and other institutional investors have recently modified their holdings of PRVA. Bayban bought a new stake in shares of Privia Health Group in the fourth quarter worth $26,000. Hantz Financial Services Inc. grew its stake in shares of 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 purchasing an additional 926 shares during the period. Global Retirement Partners LLC lifted its stake in shares of Privia Health Group by 579.8% in the 4th quarter. Global Retirement Partners LLC now owns 1,584 shares of the company’s stock worth $38,000 after purchasing an additional 1,351 shares during the period. Harbor Investment Advisory LLC purchased a new position in shares of Privia Health Group in the second quarter worth approximately $69,000. Finally, Canada Pension Plan Investment Board increased its holdings 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 valued at $85,000 after buying an additional 1,200 shares during the last quarter. 94.48% of the stock is owned by institutional investors.

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.