Privia Health Group (NASDAQ:PRVA) EVP Sells $101,721.10 in Stock

Privia Health Group, Inc. (NASDAQ:PRVA) EVP Edward Fargis sold 4,394 shares of the stock in a transaction on Friday, March 6th. The shares were sold at an average price of $23.15, for a total value of $101,721.10. Following the sale, the executive vice president owned 88,660 shares in the company, valued at approximately $2,052,479. This represents a 4.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Privia Health Group Stock Performance

Shares of PRVA opened at $21.73 on Friday. The company has a market cap of $2.69 billion, a price-to-earnings ratio of 127.82, a PEG ratio of 1.39 and a beta of 0.82. Privia Health Group, Inc. has a 52-week low of $18.77 and a 52-week high of $26.51. The stock has a fifty day moving average price of $22.93 and a two-hundred day moving average price of $23.58.

Privia Health Group (NASDAQ:PRVA) last issued its quarterly earnings data on Thursday, February 26th. The company reported $0.25 earnings per share for the quarter, beating 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 company had revenue of $541.17 million for the quarter, compared to the consensus estimate of $516.61 million. During the same quarter in the prior year, the firm earned $0.21 earnings per share. The firm’s revenue for the quarter was up 17.4% compared to the same quarter last year. As a group, research analysts predict that Privia Health Group, Inc. will post 0.14 EPS for the current fiscal year.

Institutional Investors Weigh In On Privia Health Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bayban bought a new stake in shares of Privia Health Group in the 4th quarter worth $26,000. Invesco Ltd. increased its position in Privia Health Group by 5.1% during the fourth quarter. Invesco Ltd. now owns 427,615 shares of the company’s stock worth $10,139,000 after buying an additional 20,652 shares during the last quarter. Wellington Management Group LLP lifted its position 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 in the last quarter. Millennium Management LLC increased its position in Privia Health Group by 19.0% in the 4th quarter. Millennium Management LLC now owns 702,744 shares of the company’s stock valued at $16,662,000 after buying an additional 112,428 shares in the last quarter. Finally, Gotham Asset Management LLC lifted 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 purchasing an additional 6,773 shares during the period. 94.48% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have commented on PRVA shares. JPMorgan Chase & Co. lifted their target price on Privia Health Group from $32.00 to $33.00 and gave the company an “overweight” rating in a research note on Thursday, November 13th. Piper Sandler reissued an “overweight” rating and issued a $36.00 price objective on shares of Privia Health Group in a research report on Thursday, February 26th. Citigroup lowered their price objective on shares of Privia Health Group from $34.00 to $32.00 and set a “buy” rating for the company in a research report on Tuesday, March 3rd. Jefferies Financial Group reaffirmed a “buy” rating and issued a $32.00 price target on shares of Privia Health Group in a research note on Thursday, February 26th. Finally, Royal Bank Of Canada started coverage on Privia Health Group in a research report on Friday, January 9th. They set an “outperform” rating and a $31.00 price objective on the stock. Thirteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $31.00.

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.