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

Shares of Privia Health Group, Inc. (NASDAQ:PRVA) have earned a consensus rating of “Moderate Buy” from the fourteen brokerages that are currently covering the company, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $31.1538.

Several analysts have recently issued reports on the company. Weiss Ratings downgraded Privia Health Group from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, May 8th. Truist Financial raised their price objective on Privia Health Group from $31.00 to $33.00 and gave the company a “buy” rating in a research note on Monday, March 2nd. Canaccord Genuity Group decreased their target price on Privia Health Group from $35.00 to $34.00 and set a “buy” rating for the company in a research report on Friday, May 8th. Barclays lowered their price target on Privia Health Group from $25.00 to $24.00 and set an “equal weight” rating on the stock in a report on Tuesday. Finally, Evercore set a $26.00 price target on shares of Privia Health Group in a research report on Wednesday, April 8th.

Insider Buying and Selling at Privia Health Group

In other Privia Health Group news, CEO Parth Mehrotra sold 15,647 shares of the firm’s stock in a transaction that occurred 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 sale, the chief executive officer owned 434,357 shares of the company’s stock, valued at $9,833,842.48. This trade represents a 3.48% decrease in their position. The transaction was disclosed in a filing with the SEC, 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, CFO David Mountcastle sold 3,385 shares of Privia Health Group stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $22.60, for a total value of $76,501.00. Following the completion of the transaction, the chief financial officer directly owned 211,462 shares in the company, valued at approximately $4,779,041.20. This represents a 1.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 361,330 shares of company stock worth $8,172,284 over the last ninety days. Company insiders own 5.70% of the company’s stock.

Institutional Investors Weigh In On Privia Health Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. Van Berkom & Associates Inc. boosted its holdings in Privia Health Group by 30.1% in the 3rd quarter. Van Berkom & Associates Inc. now owns 3,774,565 shares of the company’s stock valued at $93,987,000 after purchasing an additional 873,344 shares during the period. Vanguard Group Inc. increased its holdings in shares of Privia Health Group by 5.3% during the 3rd quarter. Vanguard Group Inc. now owns 12,098,933 shares of the company’s stock worth $301,263,000 after purchasing an additional 607,447 shares during the period. ArrowMark Colorado Holdings LLC raised its position in shares of Privia Health Group by 139.4% during the fourth quarter. ArrowMark Colorado Holdings LLC now owns 841,266 shares of the company’s stock valued at $19,946,000 after buying an additional 489,866 shares during the last quarter. Algert Global LLC lifted its stake in shares of Privia Health Group by 277.4% in the third quarter. Algert Global LLC now owns 484,304 shares of the company’s stock valued at $12,059,000 after buying an additional 355,966 shares during the period. Finally, Freestone Grove Partners LP lifted its stake in shares of Privia Health Group by 40.6% in the fourth quarter. Freestone Grove Partners LP now owns 1,213,342 shares of the company’s stock valued at $28,768,000 after buying an additional 350,194 shares during the period. Institutional investors and hedge funds own 94.48% of the company’s stock.

Privia Health Group Stock Down 0.4%

Shares of PRVA opened at $21.51 on Friday. The firm has a market cap of $2.71 billion, a price-to-earnings ratio of 134.45, a price-to-earnings-growth ratio of 1.74 and a beta of 0.96. The company’s fifty day moving average is $22.65 and its 200-day moving average is $23.07. Privia Health Group has a 12 month low of $18.77 and a 12 month high of $26.51.

Privia Health Group (NASDAQ:PRVA) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.11. The business had revenue of $603.85 million during the quarter, compared to analyst estimates of $560.99 million. Privia Health Group had a net margin of 0.97% and a return on equity of 2.81%. Privia Health Group’s quarterly revenue was up 25.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.22 EPS. As a group, research analysts predict that Privia Health Group will post 0.32 earnings per share for the current fiscal year.

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.