Privia Health Group, Inc. (NASDAQ:PRVA) Given Average Rating of "Moderate Buy" by Brokerages

Key Points

• Analyst consensus is “Moderate Buy”: Eleven of 14 analysts rate Privia Health Group a buy, with an average 12-month price target of $31.15 versus the stock’s reported $23.96 price.
• Insiders have been net sellers: Company insiders sold 452,357 shares worth approximately $11.4 million over the last quarter, though some transactions were conducted under pre-arranged trading plans.
• Institutional ownership remains high: Hedge funds and other institutions own 94.48% of the company, while PRVA trades near the middle of its $19.08–$28.82 one-year range and has a market capitalization of about $3.02 billion.

Privia Health Group, Inc. (NASDAQ:PRVA - Get Free Report) has earned an average recommendation of "Moderate Buy" from the fourteen ratings firms that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation and eleven have issued a buy recommendation on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $31.1538.

A number of research firms have recently weighed in on PRVA. Citigroup reaffirmed a "buy" rating on shares of Privia Health Group in a research note on Thursday, July 23rd. Barclays decreased their price objective on shares of Privia Health Group from $25.00 to $24.00 and set an "equal weight" rating on the stock in a report on Tuesday, May 26th. Canaccord Genuity Group lowered their target price on shares of Privia Health Group from $35.00 to $34.00 and set a "buy" rating on the stock in a research report on Friday, May 8th. Evercore set a $26.00 target price on shares of Privia Health Group in a report on Wednesday, April 8th. Finally, Zacks Research downgraded shares of Privia Health Group from a "hold" rating to a "strong sell" rating in a research report on Tuesday, July 7th.

Insider Buying and Selling

In related news, Director Matthew Shawn Morris sold 53,722 shares of the company's stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $27.24, for a total value of $1,463,387.28. Following the sale, the director owned 68,188 shares in the company, valued at $1,857,441.12. This represents a 44.07% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Parth Mehrotra sold 15,647 shares of Privia Health Group stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $22.64, for a total value of $354,248.08. Following the transaction, the chief executive officer directly owned 434,357 shares of the company's stock, valued at approximately $9,833,842.48. This represents a 3.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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. Insiders have sold a total of 452,357 shares of company stock worth $11,436,655 in the last quarter. Company insiders own 5.70% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Bayban purchased a new stake in shares of Privia Health Group in the 4th quarter worth about $26,000. Hantz Financial Services Inc. increased its holdings in Privia Health Group by 456.2% during the 4th quarter. Hantz Financial Services Inc. now owns 1,129 shares of the company's stock valued at $27,000 after acquiring an additional 926 shares in the last quarter. Global Retirement Partners LLC increased 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 acquiring an additional 1,351 shares in the last quarter. Harbor Investment Advisory LLC acquired a new position in Privia Health Group during the second quarter worth about $69,000. Finally, Canada Pension Plan Investment Board raised its position in Privia Health Group by 48.0% during the second quarter. Canada Pension Plan Investment Board now owns 3,700 shares of the company's stock worth $85,000 after acquiring an additional 1,200 shares during the last quarter. Institutional investors and hedge funds own 94.48% of the company's stock.

Privia Health Group Stock Performance

Privia Health Group stock opened at $23.96 on Thursday. Privia Health Group has a one year low of $19.08 and a one year high of $28.82. The business has a fifty day moving average of $24.61 and a two-hundred day moving average of $23.36. The company has a market cap of $3.02 billion, a P/E ratio of 149.76, a price-to-earnings-growth ratio of 1.88 and a beta of 0.85.

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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