Evercore ISI Issues Pessimistic Forecast for Privia Health Group (NASDAQ:PRVA) Stock Price

Privia Health Group (NASDAQ:PRVA - Get Free Report) had its price target dropped by analysts at Evercore ISI from $30.00 to $28.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has an "outperform" rating on the stock. Evercore ISI's target price points to a potential upside of 36.79% from the company's current price.

PRVA has been the subject of several other research reports. Needham & Company LLC reiterated a "buy" rating and set a $30.00 price objective on shares of Privia Health Group in a research note on Thursday, April 10th. JPMorgan Chase & Co. boosted their price objective on shares of Privia Health Group from $29.00 to $32.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 28th. JMP Securities reiterated a "market outperform" rating and set a $29.00 price objective on shares of Privia Health Group in a research note on Monday, April 28th. Truist Financial boosted their price objective on shares of Privia Health Group from $27.00 to $28.00 and gave the stock a "buy" rating in a research note on Thursday, April 10th. Finally, Barclays boosted their price objective on shares of Privia Health Group from $23.00 to $24.00 and gave the stock an "equal weight" rating in a research note on Tuesday, May 27th. One equities research analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $28.38.

Privia Health Group Price Performance

Shares of NASDAQ:PRVA traded down $0.63 during trading hours on Wednesday, hitting $20.47. The company's stock had a trading volume of 907,718 shares, compared to its average volume of 768,313. Privia Health Group has a 52 week low of $16.47 and a 52 week high of $26.09. The company has a market capitalization of $2.50 billion, a price-to-earnings ratio of 170.60, a P/E/G ratio of 3.38 and a beta of 0.82. The firm's fifty day moving average price is $22.87 and its 200 day moving average price is $22.92.

Insider Buying and Selling at Privia Health Group

In other news, Director Matthew Shawn Morris sold 10,309 shares of the company's stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $23.33, for a total value of $240,508.97. Following the sale, the director directly owned 59,792 shares of the company's stock, valued at $1,394,947.36. This represents a 14.71% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Parth Mehrotra sold 15,100 shares of the company's stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $23.33, for a total transaction of $352,283.00. Following the completion of the sale, the chief executive officer directly owned 454,281 shares in the company, valued at $10,598,375.73. This trade represents a 3.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 45,949 shares of company stock worth $1,100,368. 10.70% of the stock is owned by corporate insiders.

Institutional Trading of Privia Health Group

Large investors have recently made changes to their positions in the business. US Bancorp DE boosted its holdings in Privia Health Group by 2.4% during the first quarter. US Bancorp DE now owns 18,487 shares of the company's stock worth $415,000 after buying an additional 429 shares in the last quarter. Quadrant Capital Group LLC raised its position in shares of Privia Health Group by 11.8% in the fourth quarter. Quadrant Capital Group LLC now owns 4,855 shares of the company's stock valued at $95,000 after buying an additional 511 shares during the last quarter. Park Avenue Securities LLC raised its position in shares of Privia Health Group by 3.6% in the first quarter. Park Avenue Securities LLC now owns 15,229 shares of the company's stock valued at $342,000 after buying an additional 532 shares during the last quarter. PNC Financial Services Group Inc. increased its position in Privia Health Group by 8.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 7,169 shares of the company's stock worth $140,000 after purchasing an additional 533 shares during the last quarter. Finally, CWM LLC increased its position in Privia Health Group by 50.3% during the first quarter. CWM LLC now owns 1,804 shares of the company's stock worth $40,000 after purchasing an additional 604 shares during the last quarter. 94.48% of the stock is owned by hedge funds and other institutional investors.

Privia Health Group Company Profile

Privia Health Group, Inc operates as a national physician-enablement company in the United States. The company collaborates with medical groups, health plans, and health systems to optimize physician practices, enhance patient experiences, and reward doctors for delivering care in-person and virtual settings.