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

Key Points

• Privia Health Group, Inc. has received an average consensus rating of "Buy" from thirteen analysts, with a 12-month price target set at $28.38.
• The company's stock opened at $19.70 and has experienced a one-year low of $16.47 and a high of $26.09, currently holding a market cap of $2.40 billion.
• In insider trading activity, CEO Parth Mehrotra and CFO David Mountcastle have both sold shares, resulting in a decrease in their ownership, with insiders collectively owning 10.70% of the stock.

Privia Health Group, Inc. (NASDAQ:PRVA - Get Free Report) has been given an average rating of "Buy" by the thirteen analysts that are covering the company, MarketBeat reports. One analyst has rated the stock with a hold recommendation, eleven have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $28.38.

Several equities research analysts recently commented on the company. JMP Securities reaffirmed a "market outperform" rating and issued a $29.00 price target on shares of Privia Health Group in a report on Monday, April 28th. Evercore ISI cut their target price on Privia Health Group from $30.00 to $28.00 and set an "outperform" rating for the company in a research note on Wednesday, July 9th. Truist Financial raised their target price on Privia Health Group from $27.00 to $28.00 and gave the stock a "buy" rating in a research note on Thursday, April 10th. Barclays raised their target price on Privia Health Group from $23.00 to $24.00 and gave the stock an "equal weight" rating in a research note on Tuesday, May 27th. Finally, Robert W. Baird raised their target price on Privia Health Group from $24.00 to $26.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 15th.

Privia Health Group Stock Performance

NASDAQ:PRVA opened at $19.70 on Friday. Privia Health Group has a one year low of $16.47 and a one year high of $26.09. The stock has a market cap of $2.40 billion, a PE ratio of 164.18, a P/E/G ratio of 3.15 and a beta of 0.82. The stock has a 50 day moving average price of $22.06 and a 200 day moving average price of $22.96.

Insider Activity

In related news, CEO Parth Mehrotra sold 13,773 shares of Privia Health Group stock in a transaction on Monday, May 12th. The stock was sold at an average price of $24.99, for a total value of $344,187.27. Following the completion of the transaction, the chief executive officer directly owned 423,143 shares in the company, valued at approximately $10,574,343.57. This trade represents a 3.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO David Mountcastle sold 3,322 shares of Privia Health Group stock in a transaction on Monday, May 12th. The shares were sold at an average price of $24.99, for a total value of $83,016.78. Following the completion of the transaction, the chief financial officer owned 172,909 shares of the company's stock, valued at approximately $4,320,995.91. This trade represents a 1.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 45,949 shares of company stock valued at $1,100,368. 10.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. CWM LLC boosted its holdings in Privia Health Group by 50.3% in the first quarter. CWM LLC now owns 1,804 shares of the company's stock valued at $40,000 after purchasing an additional 604 shares during the period. Bessemer Group Inc. boosted its holdings in Privia Health Group by 2,393.4% in the first quarter. Bessemer Group Inc. now owns 2,269 shares of the company's stock valued at $51,000 after purchasing an additional 2,178 shares during the period. Russell Investments Group Ltd. boosted its holdings in Privia Health Group by 2,852.2% in the first quarter. Russell Investments Group Ltd. now owns 2,657 shares of the company's stock valued at $60,000 after purchasing an additional 2,567 shares during the period. GAMMA Investing LLC boosted its holdings in Privia Health Group by 113.1% in the first quarter. GAMMA Investing LLC now owns 2,866 shares of the company's stock valued at $64,000 after purchasing an additional 1,521 shares during the period. Finally, Caitong International Asset Management Co. Ltd boosted its holdings in Privia Health Group by 2,115.3% in the first quarter. Caitong International Asset Management Co. Ltd now owns 3,323 shares of the company's stock valued at $75,000 after purchasing an additional 3,173 shares during the period. 94.48% of the stock is currently owned by hedge funds and other institutional investors.

Privia Health Group Company Profile

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.

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