David Mountcastle Sells 17,196 Shares of Privia Health Group (NASDAQ:PRVA) Stock

Key Points

• Privia Health CFO David Mountcastle sold 17,196 shares on June 26 at an average price of $25.18, totaling about $433,000. The sale, made under a pre-arranged Rule 10b5-1 plan, reduced his direct ownership by 7.52% to 211,462 shares.
• PRVA shares recently traded up to $25.73, near their 52-week high of $26.51, with the company carrying a market cap of $3.24 billion. The stock is also trading above both its 50-day and 200-day moving averages.
• Privia Health reported stronger-than-expected quarterly results, posting EPS of $0.19 versus estimates of $0.08 and revenue of $603.85 million, up 25.8% year over year. Analysts currently rate the stock a consensus Moderate Buy with an average price target of $31.15.

Privia Health Group, Inc. (NASDAQ:PRVA - Get Free Report) CFO David Mountcastle sold 17,196 shares of the company's stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $25.18, for a total transaction of $432,995.28. Following the completion of the sale, the chief financial officer directly owned 211,462 shares of the company's stock, valued at $5,324,613.16. The trade was a 7.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• 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 value 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.
• On Thursday, April 2nd, David Mountcastle sold 5,566 shares of Privia Health Group stock. The stock was sold at an average price of $20.85, for a total value of $116,051.10.

Privia Health Group Price Performance

Shares of PRVA stock traded up $0.18 during midday trading on Tuesday, hitting $25.73. The company had a trading volume of 863,376 shares, compared to its average volume of 928,529. Privia Health Group, Inc. has a 52-week low of $18.77 and a 52-week high of $26.51. The company's 50 day simple moving average is $23.22 and its 200 day simple moving average is $22.95. The stock has a market cap of $3.24 billion, a price-to-earnings ratio of 160.82, a PEG ratio of 2.02 and a beta of 0.90.

Privia Health Group (NASDAQ:PRVA - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.11. Privia Health Group had a return on equity of 2.81% and a net margin of 0.97%.The firm had revenue of $603.85 million during the quarter, compared to the consensus estimate of $560.99 million. During the same period last year, the company earned $0.22 earnings per share. The company's revenue for the quarter was up 25.8% on a year-over-year basis. Analysts anticipate that Privia Health Group, Inc. will post 0.27 EPS for the current year.

Institutional Investors Weigh In On Privia Health Group

Several institutional investors have recently made changes to their positions in PRVA. Durable Capital Partners LP grew its stake in shares of Privia Health Group by 1.8% during the 3rd quarter. Durable Capital Partners LP now owns 11,691,685 shares of the company's stock worth $291,123,000 after purchasing an additional 203,842 shares during the period. State Street Corp lifted its stake in shares of Privia Health Group by 1.5% in the second quarter. State Street Corp now owns 4,171,069 shares of the company's stock valued at $95,935,000 after purchasing an additional 61,853 shares during the period. Van Berkom & Associates Inc. boosted its holdings in Privia Health Group by 5.4% during the first 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 in the last quarter. Geode Capital Management LLC boosted its holdings in Privia Health Group by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 2,814,290 shares of the company's stock worth $66,738,000 after buying an additional 31,204 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its holdings 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 worth $66,099,000 after buying an additional 43,589 shares in the last quarter. 94.48% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PRVA has been the topic of several analyst reports. Weiss Ratings downgraded shares of Privia Health Group from a "hold (c)" rating to a "hold (c-)" rating in a report on Friday, May 8th. Evercore set a $26.00 price target on shares of Privia Health Group in a report on Wednesday, April 8th. Citigroup reduced 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. Canaccord Genuity Group lowered their price objective on Privia Health Group from $35.00 to $34.00 and set a "buy" rating on the stock in a report on Friday, May 8th. Finally, Truist Financial boosted their target price on Privia Health Group from $31.00 to $33.00 and gave the stock a "buy" rating in a research report on Monday, March 2nd. Eleven 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 a consensus rating of "Moderate Buy" and an average price target of $31.15.

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.

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