Privia Health Group (NASDAQ:PRVA) CEO Parth Mehrotra Sells 15,647 Shares

Key Points

• CEO Parth Mehrotra sold 15,647 shares of Privia Health Group on May 12 at an average price of $22.64, for proceeds of about $354,248. The sale was made under a pre-arranged Rule 10b5-1 plan to cover tax withholding tied to vesting equity awards.
• Mehrotra has been actively selling shares recently, including a much larger sale of 105,439 shares on May 11 and multiple sales in March, reducing his position modestly over time.
• Privia Health reported stronger-than-expected quarterly results, posting $0.19 EPS versus $0.08 expected and revenue of $603.85 million, up 25.8% year over year. Analysts still view the stock favorably overall, with a “Moderate Buy” consensus and an average price target of $31.23.

Privia Health Group, Inc. (NASDAQ:PRVA - Get Free Report) CEO Parth Mehrotra sold 15,647 shares of the company's stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $22.64, for a total transaction of $354,248.08. Following the completion of the transaction, the chief executive officer owned 434,357 shares in the company, valued at approximately $9,833,842.48. This represents a 3.48% decrease in their position. The transaction was disclosed in a document filed 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 Monday, May 11th, Parth Mehrotra sold 105,439 shares of Privia Health Group stock. The shares were sold at an average price of $22.55, for a total transaction of $2,377,649.45.
• 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

Privia Health Group stock traded down $0.38 during trading hours on Wednesday, hitting $22.63. The company had a trading volume of 1,007,566 shares, compared to its average volume of 1,024,863. The firm's fifty day moving average is $22.65 and its 200-day moving average is $23.25. Privia Health Group, Inc. has a fifty-two week low of $18.77 and a fifty-two week high of $26.51. 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 announced its quarterly earnings results on Thursday, May 7th. The company reported $0.19 EPS 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 for the quarter, compared to analyst estimates of $560.99 million. During the same quarter in the prior year, the business posted $0.22 EPS. Privia Health Group's quarterly revenue was up 25.8% on a year-over-year basis. Analysts anticipate that Privia Health Group, Inc. will post 0.35 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have recently commented on PRVA. Truist Financial increased their price target on shares of Privia Health Group from $31.00 to $33.00 and gave the stock a "buy" rating in a research note on Monday, March 2nd. Barclays increased their price target 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. Jefferies Financial Group restated a "buy" rating and set a $32.00 price target on shares of Privia Health Group in a research note on Thursday, February 26th. 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 report on Tuesday, March 3rd. Finally, Evercore set a $26.00 price objective on shares of Privia Health Group in a report on Wednesday, April 8th. Eleven analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $31.23.

Institutional Trading of Privia Health Group

Several large investors have recently modified their holdings of PRVA. Bayban bought a new stake in shares of Privia Health Group during the 4th quarter worth $26,000. Hantz Financial Services Inc. grew its position in 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 purchasing an additional 926 shares during the last quarter. Global Retirement Partners LLC grew its position in Privia Health Group by 579.8% in the 4th quarter. Global Retirement Partners LLC now owns 1,584 shares of the company's stock worth $38,000 after purchasing an additional 1,351 shares during the last quarter. Canada Pension Plan Investment Board grew its position in Privia Health Group by 48.0% in the 2nd quarter. Canada Pension Plan Investment Board now owns 3,700 shares of the company's stock worth $85,000 after purchasing an additional 1,200 shares during the last quarter. Finally, Kestra Advisory Services LLC acquired a new stake in Privia Health Group in the 4th quarter worth $93,000. 94.48% of the stock is owned by institutional investors.

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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