Trust Point Inc. Makes New Investment in Privia Health Group, Inc. (NASDAQ:PRVA)

Trust Point Inc. purchased a new position in Privia Health Group, Inc. (NASDAQ:PRVA) in the fourth quarter, HoldingsChannel.com reports. The firm purchased 25,397 shares of the company’s stock, valued at approximately $585,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PRVA. C M Bidwell & Associates Ltd. purchased a new position in shares of Privia Health Group during the 2nd quarter valued at approximately $38,000. Tower Research Capital LLC TRC raised its position in shares of Privia Health Group by 171.1% during the 1st quarter. Tower Research Capital LLC TRC now owns 1,578 shares of the company’s stock valued at $44,000 after acquiring an additional 996 shares in the last quarter. Point72 Hong Kong Ltd acquired a new stake in shares of Privia Health Group during the 1st quarter valued at approximately $47,000. Neo Ivy Capital Management acquired a new stake in shares of Privia Health Group during the 2nd quarter valued at approximately $53,000. Finally, Benjamin Edwards Inc. acquired a new stake in shares of Privia Health Group during the 2nd quarter valued at approximately $58,000. Hedge funds and other institutional investors own 94.48% of the company’s stock.

Privia Health Group Price Performance

PRVA opened at $18.38 on Friday. Privia Health Group, Inc. has a fifty-two week low of $17.54 and a fifty-two week high of $30.15. The business has a 50-day moving average of $20.59 and a 200-day moving average of $21.71. The company has a market capitalization of $2.18 billion, a PE ratio of 96.74, a price-to-earnings-growth ratio of 2.49 and a beta of 0.81.

Privia Health Group (NASDAQ:PRVA) last posted its quarterly earnings results on Tuesday, February 27th. The company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.02). Privia Health Group had a return on equity of 3.97% and a net margin of 1.39%. The firm had revenue of $440.80 million for the quarter, compared to analysts’ expectations of $425.81 million. During the same period last year, the business earned $0.14 earnings per share. The firm’s revenue for the quarter was up 21.0% on a year-over-year basis. On average, equities research analysts expect that Privia Health Group, Inc. will post 0.26 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Bank of America lowered Privia Health Group from a “buy” rating to a “neutral” rating and dropped their price target for the company from $27.00 to $21.00 in a research report on Thursday, February 22nd. Barclays initiated coverage on Privia Health Group in a research report on Wednesday, March 6th. They issued an “equal weight” rating and a $22.00 target price on the stock. Evercore ISI lowered their price target on Privia Health Group from $26.00 to $25.00 and set an “outperform” rating on the stock in a report on Wednesday, February 28th. Canaccord Genuity Group lowered their price target on Privia Health Group from $41.00 to $37.00 and set a “buy” rating on the stock in a report on Tuesday, March 19th. Finally, Truist Financial lowered their price target on Privia Health Group from $32.00 to $28.00 and set a “buy” rating on the stock in a report on Thursday, February 29th. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Privia Health Group has an average rating of “Moderate Buy” and a consensus target price of $28.58.

Insider Transactions at Privia Health Group

In related news, Director William M. Sullivan sold 9,951 shares of the firm’s stock in a transaction that occurred on Wednesday, January 24th. The stock was sold at an average price of $23.03, for a total value of $229,171.53. Following the transaction, the director now directly owns 5,464,533 shares of the company’s stock, valued at approximately $125,848,194.99. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO David Mountcastle sold 3,933 shares of the firm’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $17.77, for a total value of $69,889.41. Following the transaction, the chief financial officer now directly owns 262,279 shares of the company’s stock, valued at approximately $4,660,697.83. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director William M. Sullivan sold 9,951 shares of the firm’s stock in a transaction that occurred on Wednesday, January 24th. The shares were sold at an average price of $23.03, for a total value of $229,171.53. Following the completion of the sale, the director now directly owns 5,464,533 shares in the company, valued at approximately $125,848,194.99. The disclosure for this sale can be found here. Company insiders own 57.60% of the company’s stock.

Privia Health Group Profile

Privia Health Group, Inc operates as a national physician-enablement company in the United States. The company collaborates with medical groups, health plans, and health systems to optimize physician practices, enhance patient experiences, and reward doctors for delivering care in-person and virtual settings.