David Mountcastle Sells 6,391 Shares of Privia Health Group (NASDAQ:PRVA) Stock

Privia Health Group, Inc. (NASDAQ:PRVA) CFO David Mountcastle sold 6,391 shares of the company’s stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $22.11, for a total transaction of $141,305.01. Following the sale, the chief financial officer directly owned 220,413 shares of the company’s stock, valued at approximately $4,873,331.43. This represents a 2.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

David Mountcastle also recently made the following trade(s):

• On Friday, March 13th, David Mountcastle sold 6,565 shares of Privia Health Group stock. The stock was sold at an average price of $21.52, for a total transaction of $141,278.80.
• On Thursday, March 12th, David Mountcastle sold 6,453 shares of Privia Health Group stock. The stock was sold at an average price of $21.90, for a total transaction of $141,320.70.
• On Monday, March 9th, David Mountcastle sold 5,829 shares of Privia Health Group stock. The shares were sold at an average price of $22.84, for a total transaction of $133,134.36.
• On Friday, March 6th, David Mountcastle sold 5,177 shares of Privia Health Group stock. The stock was sold at an average price of $23.15, for a total value of $119,847.55.
• On Thursday, February 26th, David Mountcastle sold 5,361 shares of Privia Health Group stock. The stock was sold at an average price of $25.00, for a total value of $134,025.00.
• On Friday, February 27th, David Mountcastle sold 7,697 shares of Privia Health Group stock. The shares were sold at an average price of $25.05, for a total value of $192,809.85.

Privia Health Group Stock Performance

NASDAQ PRVA opened at $21.77 on Friday. The business’s fifty day moving average is $22.72 and its 200 day moving average is $23.58. Privia Health Group, Inc. has a fifty-two week low of $18.77 and a fifty-two week high of $26.51. The company has a market capitalization of $2.69 billion, a PE ratio of 128.06, a price-to-earnings-growth ratio of 1.36 and a beta of 0.82.

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

Hedge Funds Weigh In On Privia Health Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PRVA. Great Lakes Advisors LLC bought a new position in shares of Privia Health Group during the 3rd quarter valued at approximately $4,487,000. Advantage Alpha Capital Partners LP bought a new stake in Privia Health Group in the second quarter worth $3,941,000. Hsbc Holdings PLC increased its position in Privia Health Group by 69.2% in the second quarter. Hsbc Holdings PLC now owns 113,718 shares of the company’s stock worth $2,549,000 after purchasing an additional 46,526 shares during the last quarter. Edgestream Partners L.P. purchased a new stake in Privia Health Group during the second quarter valued at $2,209,000. Finally, ArrowMark Colorado Holdings LLC purchased a new stake in Privia Health Group during the third quarter valued at $8,750,000. 94.48% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Truist Financial lifted their price target on shares of Privia Health Group from $31.00 to $33.00 and gave the company a “buy” rating in a report on Monday, March 2nd. Piper Sandler reissued an “overweight” rating and issued a $36.00 price objective on shares of Privia Health Group in a research note on Thursday, February 26th. Citigroup decreased their price objective on shares of Privia Health Group from $34.00 to $32.00 and set a “buy” rating on the stock in a research report on Tuesday, March 3rd. Stephens restated an “overweight” rating and set a $32.00 target price on shares of Privia Health Group in a research note on Thursday, December 4th. Finally, Canaccord Genuity Group upped their target price 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. Thirteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Privia Health Group presently has an average 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.