Brokerages Set Privia Health Group, Inc. (NASDAQ:PRVA) Price Target at $27.62

Shares of Privia Health Group, Inc. (NASDAQ:PRVA - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the twelve research firms that are covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $27.62.

PRVA has been the subject of a number of analyst reports. Bank of America cut Privia Health Group from a "buy" rating to a "neutral" rating and reduced their price target for the stock from $27.00 to $21.00 in a research report on Thursday, February 22nd. Barclays began coverage on Privia Health Group in a research report on Wednesday, March 6th. They set an "equal weight" rating and a $22.00 price objective for the company. JPMorgan Chase & Co. cut their price objective on Privia Health Group from $38.00 to $30.00 and set an "overweight" rating for the company in a research report on Wednesday, March 6th. Jefferies Financial Group began coverage on Privia Health Group in a research report on Monday, February 26th. They set a "buy" rating and a $25.00 price objective for the company. Finally, Canaccord Genuity Group lowered their price objective on Privia Health Group from $41.00 to $37.00 and set a "buy" rating on the stock in a research note on Tuesday, March 19th.

Privia Health Group Stock Up 1.8 %

Shares of NASDAQ:PRVA traded up $0.33 on Friday, reaching $18.74. The company had a trading volume of 936,654 shares, compared to its average volume of 940,366. Privia Health Group has a twelve month low of $17.54 and a twelve month high of $30.15. The stock has a 50-day moving average price of $19.64 and a 200 day moving average price of $21.14. The stock has a market capitalization of $2.22 billion, a P/E ratio of 97.32, a P/E/G ratio of 2.46 and a beta of 0.81.

Privia Health Group (NASDAQ:PRVA - Get Free Report) last announced its quarterly earnings results on Tuesday, February 27th. The company reported $0.02 earnings per share for the quarter, missing analysts' consensus estimates of $0.04 by ($0.02). Privia Health Group had a return on equity of 3.97% and a net margin of 1.39%. The company had revenue of $440.80 million during the quarter, compared to analyst estimates of $425.81 million. During the same period in the prior year, the firm earned $0.14 EPS. Privia Health Group's quarterly revenue was up 21.0% on a year-over-year basis. On average, sell-side analysts predict that Privia Health Group will post 0.26 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Privia Health Group news, EVP Thomas Bartrum sold 2,252 shares of the company's stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $18.42, for a total transaction of $41,481.84. Following the transaction, the executive vice president now owns 103,862 shares of the company's stock, valued at approximately $1,913,138.04. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Privia Health Group news, EVP Thomas Bartrum sold 2,252 shares of the company's stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $18.42, for a total transaction of $41,481.84. Following the transaction, the executive vice president now owns 103,862 shares of the company's stock, valued at approximately $1,913,138.04. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO David Mountcastle sold 3,933 shares of the company's stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $17.77, for a total value of $69,889.41. Following the transaction, the chief financial officer now directly owns 262,279 shares in the company, valued at approximately $4,660,697.83. The disclosure for this sale can be found here. In the last quarter, insiders have sold 31,783 shares of company stock valued at $582,886. 14.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of Privia Health Group by 2.5% in the 4th quarter. Vanguard Group Inc. now owns 11,278,334 shares of the company's stock valued at $259,740,000 after purchasing an additional 274,345 shares during the period. Riverbridge Partners LLC lifted its stake in shares of Privia Health Group by 17.5% in the 1st quarter. Riverbridge Partners LLC now owns 5,399,662 shares of the company's stock valued at $105,779,000 after purchasing an additional 804,304 shares during the period. Wellington Management Group LLP lifted its stake in shares of Privia Health Group by 1.0% in the 3rd quarter. Wellington Management Group LLP now owns 4,656,685 shares of the company's stock valued at $107,104,000 after purchasing an additional 45,639 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Privia Health Group by 1.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 4,040,027 shares of the company's stock valued at $92,921,000 after purchasing an additional 62,543 shares during the period. Finally, Principal Financial Group Inc. lifted its stake in shares of Privia Health Group by 3.3% in the 3rd quarter. Principal Financial Group Inc. now owns 3,505,260 shares of the company's stock valued at $80,621,000 after purchasing an additional 111,538 shares during the period. Institutional investors and hedge funds 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.