Matthew Shawn Morris Sells 17,096 Shares of Privia Health Group (NASDAQ:PRVA) Stock

Key Points

• Director Matthew Shawn Morris sold 17,096 shares on May 1 at an average price of $24.99 under a pre-arranged Rule 10b5-1 plan, leaving him with 68,188 shares (a 20.05% reduction in his ownership).
• Including trades on Feb. 26, Feb. 27, May 1 and May 4, Morris sold a total of 42,451 shares for approximately $1.06 million in proceeds.
• Privia recently beat quarterly expectations (EPS $0.25 vs. $0.04 est.; revenue $541.17M vs. $516.61M), and analysts maintain a consensus "Moderate Buy" with a $31.31 target price.

Privia Health Group, Inc. (NASDAQ:PRVA - Get Free Report) Director Matthew Shawn Morris sold 17,096 shares of the firm's stock in a transaction on Friday, May 1st. The shares were sold at an average price of $24.99, for a total transaction of $427,229.04. Following the transaction, the director directly owned 68,188 shares of the company's stock, valued at $1,704,018.12. The trade was a 20.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Matthew Shawn Morris also recently made the following trade(s):

• On Monday, May 4th, Matthew Shawn Morris sold 1,017 shares of Privia Health Group stock. The shares were sold at an average price of $24.96, for a total transaction of $25,384.32.
• On Thursday, February 26th, Matthew Shawn Morris sold 7,788 shares of Privia Health Group stock. The shares were sold at an average price of $24.99, for a total transaction of $194,622.12.
• On Friday, February 27th, Matthew Shawn Morris sold 16,550 shares of Privia Health Group stock. The stock was sold at an average price of $25.00, for a total transaction of $413,750.00.

Privia Health Group Stock Performance

Shares of NASDAQ:PRVA traded up $0.05 on Tuesday, reaching $24.29. The company's stock had a trading volume of 980,019 shares, compared to its average volume of 838,913. Privia Health Group, Inc. has a 52-week low of $18.77 and a 52-week high of $26.51. The company has a market cap of $3.05 billion, a P/E ratio of 142.88, a PEG ratio of 1.55 and a beta of 0.96. The company has a 50-day simple moving average of $22.59 and a 200 day simple moving average of $23.37.

Privia Health Group (NASDAQ:PRVA - Get Free Report) last issued its quarterly earnings data on Thursday, February 26th. The company reported $0.25 EPS for the quarter, topping analysts' consensus estimates of $0.04 by $0.21. Privia Health Group had a net margin of 1.08% and a return on equity of 3.06%. The business had revenue of $541.17 million during the quarter, compared to analysts' expectations of $516.61 million. During the same period last year, the company posted $0.21 EPS. The business's revenue was up 17.4% on a year-over-year basis. On average, equities research analysts forecast that Privia Health Group, Inc. will post 0.37 EPS for the current fiscal year.

Institutional Investors Weigh In On Privia Health Group

Institutional investors have recently made changes to their positions in the company. Bayban bought a new stake in shares of Privia Health Group in the 4th quarter worth about $26,000. Hantz Financial Services Inc. lifted its holdings in shares of Privia Health Group by 456.2% in the 4th quarter. Hantz Financial Services Inc. now owns 1,129 shares of the company's stock worth $27,000 after acquiring an additional 926 shares during the last quarter. Global Retirement Partners LLC lifted its holdings in Privia Health Group by 579.8% during the 4th quarter. Global Retirement Partners LLC now owns 1,584 shares of the company's stock valued at $38,000 after buying an additional 1,351 shares in the last quarter. Canada Pension Plan Investment Board lifted its holdings in Privia Health Group by 48.0% during the 2nd quarter. Canada Pension Plan Investment Board now owns 3,700 shares of the company's stock valued at $85,000 after buying an additional 1,200 shares in the last quarter. Finally, Kestra Advisory Services LLC bought a new stake in Privia Health Group during the 4th quarter valued at about $93,000. Institutional investors own 94.48% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have commented on PRVA shares. Barclays lifted 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 note on Wednesday, March 25th. Canaccord Genuity Group lifted their price objective on shares of Privia Health Group from $34.00 to $35.00 and gave the stock a "buy" rating in a research note on Friday, February 27th. Weiss Ratings reissued a "hold (c)" rating on shares of Privia Health Group in a research note on Friday, March 27th. Truist Financial raised their target price on shares of Privia Health Group from $31.00 to $33.00 and gave the stock a "buy" rating in a report on Monday, March 2nd. Finally, Citigroup lowered their target price on shares of Privia Health Group from $34.00 to $32.00 and set a "buy" rating for the company in a report on Tuesday, March 3rd. Eleven analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $31.31.

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.

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