Privia Health Group (NASDAQ:PRVA) CEO Parth Mehrotra Sells 41,999 Shares of Stock

Privia Health Group, Inc. (NASDAQ:PRVA) CEO Parth Mehrotra sold 41,999 shares of the stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $22.86, for a total transaction of $960,097.14. Following the sale, the chief executive officer directly owned 343,795 shares of the company’s stock, valued at approximately $7,859,153.70. This trade represents a 10.89% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Parth Mehrotra also recently made the following trade(s):

• On Friday, March 6th, Parth Mehrotra sold 21,440 shares of Privia Health Group stock. The stock was sold at an average price of $23.15, for a total transaction of $496,336.00.

Privia Health Group Trading Down 3.6%

Shares of PRVA stock opened at $22.47 on Wednesday. The company has a market cap of $2.78 billion, a PE ratio of 132.18, a P/E/G ratio of 1.52 and a beta of 0.82. The company’s fifty day simple moving average is $23.00 and its 200-day simple moving average is $23.61. Privia Health Group, Inc. has a 52 week low of $18.77 and a 52 week high of $26.51.

Privia Health Group (NASDAQ:PRVA) last announced its quarterly earnings results on Thursday, February 26th. The company reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.21. Privia Health Group had a net margin of 1.08% and a return on equity of 3.06%. The firm had revenue of $541.17 million during the quarter, compared to analysts’ expectations of $516.61 million. During the same period in the prior year, the company earned $0.21 EPS. The firm’s revenue was up 17.4% on a year-over-year basis. Equities research analysts expect that Privia Health Group, Inc. will post 0.14 EPS for the current fiscal year.

Wall Street Analyst Weigh In

PRVA has been the topic of several recent research reports. BMO Capital Markets assumed coverage on Privia Health Group in a research report on Thursday, November 13th. They set an “outperform” rating and a $30.00 price target on the stock. Jefferies Financial Group reaffirmed a “buy” rating and set a $32.00 price target on shares of Privia Health Group in a report on Thursday, February 26th. Canaccord Genuity Group boosted their price objective on shares of Privia Health Group from $34.00 to $35.00 and gave the stock a “buy” rating in a report on Friday, February 27th. Wolfe Research set a $31.00 target price on Privia Health Group in a research note on Tuesday, January 6th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $36.00 target price on shares of Privia Health Group in a research report on Thursday, February 26th. Thirteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $31.00.

Trending Headlines about Privia Health Group

Here are the key news stories impacting Privia Health Group this week:

• Negative Sentiment: CEO Parth Mehrotra sold 21,440 shares on March 6 at $23.15 and 41,999 shares on March 9 at $22.86 (total ≈63,439 shares, ≈$1.46M). His holdings fell to 343,795 shares after the sales. CEO Form 4
• Negative Sentiment: CFO David Mountcastle completed two sales (5,177 shares on March 6 at $23.15 and 5,829 shares on March 9 at $22.84), totaling 11,006 shares (~$253k) and reducing his stake to ~161,903 shares. CFO Form 4
• Negative Sentiment: EVP Edward C. Fargis sold 4,394 shares on March 6 at $23.15 and 4,949 shares on March 9 at $22.84 (total 9,343 shares, ~ $215k), lowering his holding to ~83,711 shares. EVP Form 4

Institutional Investors Weigh In On Privia Health Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. Bayban bought a new position in shares of Privia Health Group during the fourth quarter worth about $26,000. Invesco Ltd. raised its stake in Privia Health Group by 5.1% during the fourth quarter. Invesco Ltd. now owns 427,615 shares of the company’s stock valued at $10,139,000 after buying an additional 20,652 shares in the last quarter. Wellington Management Group LLP lifted its holdings in Privia Health Group by 3.8% during the 4th quarter. Wellington Management Group LLP now owns 233,446 shares of the company’s stock worth $5,535,000 after buying an additional 8,531 shares during the last quarter. Millennium Management LLC lifted its holdings in Privia Health Group by 19.0% during the 4th quarter. Millennium Management LLC now owns 702,744 shares of the company’s stock worth $16,662,000 after buying an additional 112,428 shares during the last quarter. Finally, Gotham Asset Management LLC grew its position in shares of Privia Health Group by 22.4% in the 4th quarter. Gotham Asset Management LLC now owns 36,995 shares of the company’s stock worth $877,000 after acquiring an additional 6,773 shares in the last quarter. Institutional investors own 94.48% of the company’s stock.

About Privia Health Group

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.