Privia Health Group (NASDAQ:PRVA) CFO Sells $76,501.00 in Stock

Key Points

• Privia Health CFO David Mountcastle sold 3,385 shares on May 11 for about $76,501 at $22.60 per share, reducing his stake by 1.58%. The filing said the sale was to cover tax withholding tied to vested equity awards.
• The company recently beat quarterly expectations, posting earnings of $0.19 per share versus the $0.08 consensus and revenue of $603.85 million, up 25.8% year over year. Analysts currently expect full-year EPS of 0.35.
• Wall Street remains cautiously positive on PRVA, with 11 Buy ratings and 3 Hold ratings, giving the stock a consensus Moderate Buy and a price target of $31.23. The shares were trading around $22.63, below that target.

Privia Health Group, Inc. (NASDAQ:PRVA - Get Free Report) CFO David Mountcastle sold 3,385 shares of Privia Health Group stock in a transaction on Monday, May 11th. The shares were sold at an average price of $22.60, for a total value of $76,501.00. Following the completion of the transaction, the chief financial officer owned 211,462 shares in the company, valued at $4,779,041.20. The trade was a 1.58% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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 stock was sold at an average price of $25.00, for a total value of $30,150.00.
• On Friday, May 1st, David Mountcastle sold 7,179 shares of Privia Health Group stock. The shares were sold at an average price of $25.03, for a total value of $179,690.37.
• On Thursday, April 2nd, David Mountcastle sold 5,566 shares of Privia Health Group stock. The stock was sold at an average price of $20.85, for a total value of $116,051.10.
• On Monday, March 16th, David Mountcastle sold 6,391 shares of Privia Health Group stock. The stock was 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 stock was 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 Stock Performance

Privia Health Group stock traded down $0.38 during trading on Wednesday, reaching $22.63. 1,007,566 shares of the company's stock were exchanged, compared to its average volume of 877,409. Privia Health Group, Inc. has a 52-week low of $18.77 and a 52-week high of $26.51. The firm has a market cap of $2.85 billion, a price-to-earnings ratio of 141.45, a PEG ratio of 1.67 and a beta of 0.96. The company's 50-day moving average is $22.68 and its two-hundred day moving average is $23.27.

Privia Health Group (NASDAQ:PRVA - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.19 EPS for the quarter, topping analysts' consensus estimates of $0.08 by $0.11. Privia Health Group had a return on equity of 2.81% and a net margin of 0.97%.The company had revenue of $603.85 million for the quarter, compared to analysts' expectations of $560.99 million. During the same quarter in the previous year, the firm posted $0.22 earnings per share. The firm's quarterly revenue was up 25.8% on a year-over-year basis. Analysts anticipate that Privia Health Group, Inc. will post 0.35 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on PRVA. Truist Financial increased their price objective on shares of Privia Health Group from $31.00 to $33.00 and gave the company a "buy" rating in a research report on Monday, March 2nd. Evercore set a $26.00 target price on shares of Privia Health Group in a research note on Wednesday, April 8th. Piper Sandler reaffirmed an "overweight" rating and set a $36.00 price target on shares of Privia Health Group in a report on Thursday, February 26th. Canaccord Genuity Group dropped their price target on shares of Privia Health Group from $35.00 to $34.00 and set a "buy" rating on the stock in a research note on Friday, May 8th. Finally, 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 research report on Tuesday, March 3rd. Eleven research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, Privia Health Group currently has a consensus rating of "Moderate Buy" and a consensus price target of $31.23.

Hedge Funds Weigh In On Privia Health Group

Several institutional investors and hedge funds have recently made changes to their positions in PRVA. Van Berkom & Associates Inc. increased its stake in shares of Privia Health Group by 30.1% in the third quarter. Van Berkom & Associates Inc. now owns 3,774,565 shares of the company's stock worth $93,987,000 after buying an additional 873,344 shares during the last quarter. Vanguard Group Inc. boosted its stake in Privia Health Group by 5.3% during the 3rd quarter. Vanguard Group Inc. now owns 12,098,933 shares of the company's stock valued at $301,263,000 after acquiring an additional 607,447 shares during the last quarter. ArrowMark Colorado Holdings LLC grew its holdings in Privia Health Group by 139.4% during the 4th quarter. ArrowMark Colorado Holdings LLC now owns 841,266 shares of the company's stock worth $19,946,000 after acquiring an additional 489,866 shares in the last quarter. Algert Global LLC grew its holdings in Privia Health Group by 277.4% during the 3rd quarter. Algert Global LLC now owns 484,304 shares of the company's stock worth $12,059,000 after acquiring an additional 355,966 shares in the last quarter. Finally, Freestone Grove Partners LP increased its position in shares of Privia Health Group by 40.6% in the 4th quarter. Freestone Grove Partners LP now owns 1,213,342 shares of the company's stock worth $28,768,000 after purchasing an additional 350,194 shares during the last quarter. 94.48% of the stock is currently owned by hedge funds and other institutional investors.

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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