Privia Health Group (NASDAQ:PRVA) CFO David Mountcastle Sells 7,179 Shares

Key Points

• CFO David Mountcastle sold 7,179 shares on May 1 at an average price of $25.03 under a pre-arranged Rule 10b5-1 plan, trimming his stake to 214,847 shares (a 3.23% decrease); he has sold roughly 57,400 shares across multiple filings since Feb. 26.
• Privia beat expectations with $0.25 EPS vs. $0.04 estimated and revenue of $541.2M (up 17.4% YoY); the stock trades near $24.29, has a $3.05B market cap, and carries a consensus analyst target of about $31.31 ("Moderate Buy").

Privia Health Group, Inc. (NASDAQ:PRVA - Get Free Report) CFO David Mountcastle sold 7,179 shares of the stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $25.03, for a total transaction of $179,690.37. Following the sale, the chief financial officer directly owned 214,847 shares of the company's stock, valued at $5,377,620.41. This represents a 3.23% 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.

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

• On Monday, May 4th, David Mountcastle sold 1,206 shares of Privia Health Group stock. The shares were sold at an average price of $25.00, for a total transaction of $30,150.00.
• On Thursday, April 2nd, David Mountcastle sold 5,566 shares of Privia Health Group stock. The shares were sold at an average price of $20.85, for a total transaction of $116,051.10.
• On Monday, March 16th, David Mountcastle sold 6,391 shares of Privia Health Group stock. The shares were sold at an average price of $22.11, for a total transaction of $141,305.01.
• On Friday, March 13th, David Mountcastle sold 6,565 shares of Privia Health Group stock. The shares were sold at an average price of $21.52, for a total transaction of $141,278.80.
• On Thursday, March 12th, David Mountcastle sold 6,453 shares of Privia Health Group stock. The shares were sold at an average price of $21.90, for a total transaction of $141,320.70.
• On Monday, March 9th, David Mountcastle sold 5,829 shares of Privia Health Group stock. The shares were sold at an average price of $22.84, for a total transaction of $133,134.36.
• On Friday, March 6th, David Mountcastle sold 5,177 shares of Privia Health Group stock. The stock was sold at an average price of $23.15, for a total transaction 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 transaction of $134,025.00.
• On Friday, February 27th, David Mountcastle sold 7,697 shares of Privia Health Group stock. The shares were sold at an average price of $25.05, for a total transaction of $192,809.85.

Privia Health Group Trading Up 0.2%

NASDAQ PRVA traded up $0.05 on Tuesday, hitting $24.29. 980,019 shares of the company were exchanged, compared to its average volume of 874,634. The company has a market cap of $3.05 billion, a PE ratio of 142.88, a PEG ratio of 1.51 and a beta of 0.96. Privia Health Group, Inc. has a 12 month low of $18.77 and a 12 month high of $26.51. The stock has a fifty day moving average of $22.64 and a 200-day moving average of $23.36.

Privia Health Group (NASDAQ:PRVA - Get Free Report) last issued its earnings results on Thursday, February 26th. The company reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.21. The business had revenue of $541.17 million for the quarter, compared to analyst estimates of $516.61 million. Privia Health Group had a net margin of 1.08% and a return on equity of 3.06%. Privia Health Group's revenue was up 17.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.21 earnings per share. On average, analysts expect that Privia Health Group, Inc. will post 0.37 earnings per share for the current year.

Hedge Funds Weigh In On Privia Health Group

A number of large investors have recently modified their holdings of the company. Advisors Preferred LLC bought a new position in shares of Privia Health Group in the 1st quarter worth $1,696,000. Fifth Third Bancorp lifted its holdings in shares of Privia Health Group by 1,047.1% in the 1st quarter. Fifth Third Bancorp now owns 38,142 shares of the company's stock worth $785,000 after purchasing an additional 34,817 shares in the last quarter. Fort Washington Investment Advisors Inc. OH bought a new position in Privia Health Group during the 1st quarter valued at $3,900,000. Pictet Asset Management Holding SA lifted its stake in Privia Health Group by 15.3% during the 1st quarter. Pictet Asset Management Holding SA now owns 16,076 shares of the company's stock valued at $331,000 after acquiring an additional 2,132 shares in the last quarter. Finally, Louisiana State Employees Retirement System bought a new position in Privia Health Group during the 1st quarter valued at $1,055,000. 94.48% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on PRVA shares. Piper Sandler reissued an "overweight" rating and set a $36.00 target price on shares of Privia Health Group in a research note on Thursday, February 26th. Citigroup cut their target price on shares of Privia Health Group from $34.00 to $32.00 and set a "buy" rating on the stock in a research note on Tuesday, March 3rd. Canaccord Genuity Group increased their target price on shares of Privia Health Group from $34.00 to $35.00 and gave the stock a "buy" rating in a research note on Friday, February 27th. Barclays increased their target price on Privia Health Group from $23.00 to $25.00 and gave the stock an "equal weight" rating in a report on Wednesday, March 25th. Finally, Jefferies Financial Group reiterated a "buy" rating and issued a $32.00 target price on shares of Privia Health Group in a report on Thursday, February 26th. Eleven investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $31.31.

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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