Insider Selling: Privia Health Group (NASDAQ:PRVA) CEO Sells 105,439 Shares of Stock

Key Points

• Privia Health CEO Parth Mehrotra sold 105,439 shares on May 11 at an average price of $22.55, totaling about $2.38 million. The sale was part of a pre-arranged Rule 10b5-1 plan and was tied to tax withholding obligations from vesting equity awards.
• Mehrotra also made several other recent sales, including a 15,647-share sale on May 12 and multiple transactions in March, reducing his position by 18.98% after the latest trade.
• Privia Health reported strong quarterly results on May 7, with earnings of $0.19 per share versus $0.08 expected and revenue of $603.85 million, up 25.8% year over year. Despite the insider selling, analysts still rate the stock a Moderate Buy with a consensus target price of $31.23.

Privia Health Group, Inc. (NASDAQ:PRVA - Get Free Report) CEO Parth Mehrotra sold 105,439 shares of the firm's stock in a transaction on Monday, May 11th. The shares were sold at an average price of $22.55, for a total transaction of $2,377,649.45. Following the transaction, the chief executive officer directly owned 450,004 shares of the company's stock, valued at $10,147,590.20. The trade was a 18.98% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Parth Mehrotra also recently made the following trade(s):

• On Tuesday, May 12th, Parth Mehrotra sold 15,647 shares of Privia Health Group stock. The shares were sold at an average price of $22.64, for a total transaction of $354,248.08.
• On Monday, March 16th, Parth Mehrotra sold 26,509 shares of Privia Health Group stock. The shares were sold at an average price of $22.11, for a total transaction of $586,113.99.
• On Friday, March 13th, Parth Mehrotra sold 27,229 shares of Privia Health Group stock. The shares were sold at an average price of $21.52, for a total transaction of $585,968.08.
• On Thursday, March 12th, Parth Mehrotra sold 26,763 shares of Privia Health Group stock. The shares were sold at an average price of $21.90, for a total transaction of $586,109.70.
• On Tuesday, March 10th, Parth Mehrotra sold 21,097 shares of Privia Health Group stock. The shares were sold at an average price of $22.71, for a total transaction of $479,112.87.
• On Monday, March 9th, Parth Mehrotra sold 41,999 shares of Privia Health Group stock. The shares were sold at an average price of $22.86, for a total transaction of $960,097.14.
• On Friday, March 6th, Parth Mehrotra sold 21,440 shares of Privia Health Group stock. The shares were sold at an average price of $23.15, for a total transaction of $496,336.00.

Privia Health Group Price Performance

Shares of PRVA traded down $0.38 during trading hours on Wednesday, hitting $22.63. 1,007,566 shares of the stock were exchanged, compared to its average volume of 1,024,863. Privia Health Group, Inc. has a fifty-two week low of $18.77 and a fifty-two week high of $26.51. The business has a 50-day moving average of $22.65 and a 200-day moving average of $23.25. The firm has a market capitalization of $2.85 billion, a P/E ratio of 141.45, a price-to-earnings-growth ratio of 1.69 and a beta of 0.96.

Privia Health Group (NASDAQ:PRVA - Get Free Report) last posted its quarterly earnings data 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 net margin of 0.97% and a return on equity of 2.81%. The company had revenue of $603.85 million during the quarter, compared to analysts' expectations of $560.99 million. During the same period in the prior year, the company posted $0.22 earnings per share. Privia Health Group's revenue for the quarter was up 25.8% compared to the same quarter last year. As a group, analysts forecast that Privia Health Group, Inc. will post 0.35 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently weighed in on PRVA. Piper Sandler reiterated an "overweight" rating and set a $36.00 price objective on shares of Privia Health Group in a research report on Thursday, February 26th. Weiss Ratings cut shares of Privia Health Group from a "hold (c)" rating to a "hold (c-)" rating in a research report on Friday, May 8th. Canaccord Genuity Group decreased their price objective on shares of Privia Health Group from $35.00 to $34.00 and set a "buy" rating for the company in a research report on Friday, May 8th. Citigroup decreased 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. Finally, Barclays increased their price objective on shares of Privia Health Group from $23.00 to $25.00 and gave the stock an "equal weight" rating in a research report on Wednesday, March 25th. Eleven equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $31.23.

Institutional Investors Weigh In On Privia Health Group

A number of large investors have recently bought and sold shares of the stock. PNC Financial Services Group Inc. grew its holdings in Privia Health Group by 8.8% in the first quarter. PNC Financial Services Group Inc. now owns 10,361 shares of the company's stock worth $213,000 after purchasing an additional 840 shares during the period. Van Berkom & Associates Inc. grew its holdings in Privia Health Group by 5.4% in the first quarter. Van Berkom & Associates Inc. now owns 4,053,043 shares of the company's stock worth $83,371,000 after purchasing an additional 208,787 shares during the period. Dimensional Fund Advisors LP grew its holdings in Privia Health Group by 6.3% in the first quarter. Dimensional Fund Advisors LP now owns 2,406,717 shares of the company's stock worth $49,500,000 after purchasing an additional 142,679 shares during the period. SEB Asset Management AB acquired a new stake in Privia Health Group in the first quarter worth $505,000. Finally, Future Fund LLC grew its holdings in Privia Health Group by 48.0% in the first quarter. Future Fund LLC now owns 65,538 shares of the company's stock worth $1,348,000 after purchasing an additional 21,247 shares during the period. 94.48% of the stock is currently owned by institutional investors and hedge funds.

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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