Evercore ISI Has Lowered Expectations for Privia Health Group (NASDAQ:PRVA) Stock Price

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

Other equities analysts have also issued reports about the stock. Truist Financial raised their price target on shares of Privia Health Group from $27.00 to $28.00 and gave the stock a "buy" rating in a research report on Thursday, April 10th. Barclays raised their price target on shares of Privia Health Group from $23.00 to $24.00 and gave the stock an "equal weight" rating in a research report on Tuesday, May 27th. JPMorgan Chase & Co. raised their price target on shares of Privia Health Group from $29.00 to $32.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 28th. Needham & Company LLC reaffirmed a "buy" rating and set a $30.00 price target on shares of Privia Health Group in a research report on Thursday, April 10th. Finally, Robert W. Baird raised their price target on shares of Privia Health Group from $24.00 to $26.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 15th. One research analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $28.38.

Privia Health Group Stock Down 3.0%

Shares of NASDAQ PRVA traded down $0.63 during mid-day trading on Wednesday, reaching $20.47. 907,718 shares of the company were exchanged, compared to its average volume of 768,995. The company's 50-day simple moving average is $22.87 and its 200-day simple moving average is $22.95. The stock has a market capitalization of $2.50 billion, a P/E ratio of 170.60, a P/E/G ratio of 3.28 and a beta of 0.82. Privia Health Group has a twelve month low of $16.47 and a twelve month high of $26.09.

Insiders Place Their Bets

In other news, CEO Parth Mehrotra sold 13,773 shares of the firm's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $24.99, for a total transaction of $344,187.27. Following the sale, the chief executive officer owned 423,143 shares in the company, valued at approximately $10,574,343.57. This trade represents a 3.15% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO David Mountcastle sold 3,322 shares of the firm's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $24.99, for a total transaction of $83,016.78. Following the sale, the chief financial officer owned 172,909 shares in the company, valued at approximately $4,320,995.91. This trade represents a 1.89% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 45,949 shares of company stock worth $1,100,368 in the last three months. 10.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Privia Health Group

Institutional investors and hedge funds have recently made changes to their positions in the stock. Financiere des Professionnels Fonds d investissement inc. purchased a new position in Privia Health Group in the 2nd quarter worth $153,000. Harbor Capital Advisors Inc. raised its position in Privia Health Group by 17.7% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 37,083 shares of the company's stock worth $853,000 after purchasing an additional 5,574 shares during the period. Rhumbline Advisers raised its position in Privia Health Group by 2.5% in the 1st quarter. Rhumbline Advisers now owns 294,353 shares of the company's stock worth $6,608,000 after purchasing an additional 7,153 shares during the period. Strs Ohio purchased a new position in Privia Health Group in the 1st quarter worth $849,000. Finally, Acadian Asset Management LLC purchased a new position in Privia Health Group in the 1st quarter worth $154,000. Hedge funds and other institutional investors own 94.48% of the company's stock.

About Privia Health Group

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.