Privia Health Group (NASDAQ:PRVA) CFO David Mountcastle Sells 5,829 Shares

Key Points

• CFO David Mountcastle sold 5,829 shares on March 9 at an average price of $22.84 (≈$133,134), part of a series of recent insider sales that reduced his stake by 3.48% to 161,903 shares.
• Privia's stock traded down about 3.6% to $22.47 on higher-than-average volume; the company recently reported an earnings beat (Q4 EPS $0.25 vs. $0.04 expected) and revenue up 17.4%, while analysts maintain a consensus "Moderate Buy" with an average target of $31.00.

Privia Health Group, Inc. (NASDAQ:PRVA - Get Free Report) CFO David Mountcastle sold 5,829 shares of the business's stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $22.84, for a total value of $133,134.36. Following the transaction, the chief financial officer owned 161,903 shares in the company, valued at approximately $3,697,864.52. This represents a 3.48% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

David Mountcastle also recently made the following trade(s):

• On Friday, March 6th, David Mountcastle sold 5,177 shares of Privia Health Group stock. The shares were sold at an average price of $23.15, for a total value of $119,847.55.
• On Thursday, February 26th, David Mountcastle sold 5,361 shares of Privia Health Group stock. The shares were sold at an average price of $25.00, for a total value of $134,025.00.
• On Friday, February 27th, David Mountcastle sold 7,697 shares of Privia Health Group stock. The stock was sold at an average price of $25.05, for a total value of $192,809.85.
• On Friday, December 12th, David Mountcastle sold 23,887 shares of Privia Health Group stock. The shares were sold at an average price of $25.03, for a total transaction of $597,891.61.

Privia Health Group Stock Down 3.6%

Shares of PRVA traded down $0.83 during mid-day trading on Tuesday, reaching $22.47. 1,025,433 shares of the stock traded hands, compared to its average volume of 813,068. The stock has a fifty day simple moving average of $23.03 and a 200 day simple moving average of $23.60. Privia Health Group, Inc. has a 12-month low of $18.77 and a 12-month high of $26.51. The firm has a market cap of $2.78 billion, a price-to-earnings ratio of 132.18, a P/E/G ratio of 1.49 and a beta of 0.82.

Privia Health Group (NASDAQ:PRVA - Get Free Report) last released its quarterly earnings results on Thursday, February 26th. The company reported $0.25 earnings per share for the quarter, beating 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 analyst estimates of $516.61 million. During the same period last year, the business earned $0.21 EPS. The business's revenue was up 17.4% on a year-over-year basis. On average, equities research analysts expect that Privia Health Group, Inc. will post 0.14 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Privia Health Group

A number of institutional investors have recently made changes to their positions in the company. Royal Bank of Canada lifted its stake in Privia Health Group by 63.5% during the first quarter. Royal Bank of Canada now owns 245,633 shares of the company's stock worth $5,514,000 after purchasing an additional 95,371 shares during the last quarter. AQR Capital Management LLC boosted its holdings in shares of Privia Health Group by 24.7% in the 1st quarter. AQR Capital Management LLC now owns 40,781 shares of the company's stock valued at $916,000 after buying an additional 8,068 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Privia Health Group by 3.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 118,764 shares of the company's stock valued at $2,666,000 after buying an additional 3,714 shares during the last quarter. Intech Investment Management LLC grew its position in shares of Privia Health Group by 55.1% during the 1st quarter. Intech Investment Management LLC now owns 56,553 shares of the company's stock valued at $1,270,000 after buying an additional 20,082 shares during the last quarter. Finally, Acadian Asset Management LLC acquired a new stake in Privia Health Group during the first quarter worth about $154,000. 94.48% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Truist Financial raised their price objective on Privia Health Group from $31.00 to $33.00 and gave the company a "buy" rating in a research note on Monday, March 2nd. Citigroup decreased their price target on shares of Privia Health Group from $34.00 to $32.00 and set a "buy" rating for the company in a research report on Tuesday, March 3rd. Wolfe Research set a $31.00 price target on shares of Privia Health Group in a report on Tuesday, January 6th. Piper Sandler reiterated an "overweight" rating and set a $36.00 price objective on shares of Privia Health Group in a research note on Thursday, February 26th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Privia Health Group from $32.00 to $33.00 and gave the stock an "overweight" rating in a report on Thursday, November 13th. Thirteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $31.00.

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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