Privia Health Group (NASDAQ:PRVA) CFO Sells $16,542.00 in Stock

Privia Health Group, Inc. (NASDAQ:PRVA) CFO David Mountcastle sold 600 shares of the stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $27.57, for a total value of $16,542.00. Following the completion of the sale, the chief financial officer directly owned 186,128 shares of the company’s stock, valued at approximately $5,131,548.96. This represents a 0.32% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Thursday, July 2nd, David Mountcastle sold 24,734 shares of Privia Health Group stock. The stock was sold at an average price of $27.50, for a total value of $680,185.00.
• On Friday, June 26th, David Mountcastle sold 17,196 shares of Privia Health Group stock. The shares were sold at an average price of $25.18, for a total transaction of $432,995.28.
• On Monday, May 11th, David Mountcastle sold 3,385 shares of Privia Health Group stock. The stock was sold at an average price of $22.60, for a total transaction of $76,501.00.
• On Monday, May 4th, David Mountcastle sold 1,206 shares of Privia Health Group stock. The shares were sold at an average price of $25.00, for a total transaction of $30,150.00.
• On Friday, May 1st, David Mountcastle sold 7,179 shares of Privia Health Group stock. The shares were sold at an average price of $25.03, for a total value of $179,690.37.

Privia Health Group Stock Down 1.0%

NASDAQ:PRVA traded down $0.28 on Friday, reaching $27.49. The company’s stock had a trading volume of 820,543 shares, compared to its average volume of 1,167,330. Privia Health Group, Inc. has a 12-month low of $18.77 and a 12-month high of $27.86. The stock has a 50 day moving average price of $23.76 and a 200 day moving average price of $23.14. The firm has a market cap of $3.46 billion, a price-to-earnings ratio of 171.82, a price-to-earnings-growth ratio of 2.17 and a beta of 0.83.

Key Privia Health Group News

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

• Positive Sentiment: RBC Capital reiterated its Buy rating on Privia Health Group, which supports the bullish case for the stock. RBC Capital Keeps Their Buy Rating on Privia Health Group (PRVA)
• Neutral Sentiment: Short-interest data showed no meaningful short position changes, so this does not appear to be a major driver of the stock today.
• Neutral Sentiment: CFO David Mountcastle sold a small number of shares under a pre-arranged 10b5-1 trading plan, which is generally viewed as routine insider activity rather than a strong negative signal. Privia Health Group (NASDAQ:PRVA) CFO David Mountcastle Sells 600 Shares
• Negative Sentiment: Zacks Research downgraded Privia Health Group from Hold to Strong Sell, which could pressure sentiment despite the stock’s recent strength. Privia Health Group was downgraded by Zacks Research from “hold” to “strong sell”.

Analysts Set New Price Targets

PRVA has been the subject of several recent research reports. Weiss Ratings raised shares of Privia Health Group from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, July 2nd. Evercore set a $26.00 price target on Privia Health Group in a research report on Wednesday, April 8th. Barclays lowered their price target on shares of Privia Health Group from $25.00 to $24.00 and set an “equal weight” rating for the company in a report on Tuesday, May 26th. Zacks Research downgraded Privia Health Group from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 7th. Finally, Canaccord Genuity Group cut their price objective on shares of Privia Health Group from $35.00 to $34.00 and set a “buy” rating on the stock in a report on Friday, May 8th. Eleven equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $31.15.

Institutional Trading of Privia Health Group

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Durable Capital Partners LP grew its stake in Privia Health Group by 1.8% in the 3rd quarter. Durable Capital Partners LP now owns 11,691,685 shares of the company’s stock valued at $291,123,000 after acquiring an additional 203,842 shares during the last quarter. State Street Corp raised its stake in Privia Health Group by 1.5% during the second quarter. State Street Corp now owns 4,171,069 shares of the company’s stock worth $95,935,000 after purchasing an additional 61,853 shares during the period. Van Berkom & Associates Inc. raised its position in shares of Privia Health Group by 5.4% in the 1st quarter. Van Berkom & Associates Inc. now owns 4,053,043 shares of the company’s stock worth $83,371,000 after buying an additional 208,787 shares during the period. Geode Capital Management LLC lifted its stake in shares of Privia Health Group by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 2,814,290 shares of the company’s stock valued at $66,738,000 after purchasing an additional 31,204 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its position in Privia Health Group by 1.6% during the fourth quarter. Principal Financial Group Inc. now owns 2,787,802 shares of the company’s stock valued at $66,099,000 after buying an additional 43,589 shares in the last quarter. Institutional investors and hedge funds 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.