Privia Health Group (NASDAQ:PRVA) EVP Edward Fargis Sells 4,394 Shares

Key Points

• EVP Edward Fargis sold 4,394 shares on March 6 at an average price of $23.15 for about $101,721, reducing his stake by 4.72% to 88,660 shares, as disclosed in an SEC Form 4.
• Privia beat expectations for the quarter with $0.25 EPS vs. $0.04 estimated and revenue of $541.17M vs. $516.61M, with revenue up 17.4% year‑over‑year though net margin remained low at 1.08%.
• The stock traded down ~3.6% to $22.47 on higher-than-average volume, while analysts maintain a consensus "Moderate Buy" rating with an average price target of $31.00.

Privia Health Group, Inc. (NASDAQ:PRVA - Get Free Report) EVP Edward Fargis sold 4,394 shares of the stock in a transaction on Friday, March 6th. The shares were sold at an average price of $23.15, for a total value of $101,721.10. Following the completion of the sale, the executive vice president owned 88,660 shares of the company's stock, valued at $2,052,479. The trade was a 4.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Privia Health Group Stock Down 3.6%

PRVA traded down $0.83 during midday trading on Tuesday, hitting $22.47. 1,025,433 shares of the company were exchanged, compared to its average volume of 813,068. The firm's 50 day moving average price is $23.03 and its 200-day moving average price is $23.60. Privia Health Group, Inc. has a 1-year low of $18.77 and a 1-year high of $26.51. The firm has a market capitalization of $2.78 billion, a P/E 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 issued its quarterly earnings data on Thursday, February 26th. The company reported $0.25 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.04 by $0.21. The company had revenue of $541.17 million during the quarter, compared to the consensus estimate of $516.61 million. Privia Health Group had a return on equity of 3.06% and a net margin of 1.08%.The firm's revenue was up 17.4% compared to the same quarter last year. During the same period last year, the company earned $0.21 earnings per share. On average, sell-side analysts predict that Privia Health Group, Inc. will post 0.14 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of PRVA. Royal Bank of Canada grew its holdings in Privia Health Group by 63.5% in 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 period. AQR Capital Management LLC raised its holdings in shares of Privia Health Group by 24.7% during the first quarter. AQR Capital Management LLC now owns 40,781 shares of the company's stock valued at $916,000 after purchasing an additional 8,068 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted 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 worth $2,666,000 after purchasing an additional 3,714 shares in the last quarter. Intech Investment Management LLC grew its stake in shares of Privia Health Group by 55.1% in 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 period. Finally, Acadian Asset Management LLC bought a new stake in Privia Health Group in the 1st quarter valued at about $154,000. 94.48% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on PRVA. Stephens reaffirmed an "overweight" rating and issued a $32.00 price objective on shares of Privia Health Group in a research note on Thursday, December 4th. JPMorgan Chase & Co. boosted their target price on shares of Privia Health Group from $32.00 to $33.00 and gave the company an "overweight" rating in a report on Thursday, November 13th. Truist Financial increased their price target on Privia Health Group from $31.00 to $33.00 and gave the stock a "buy" rating in a report on Monday, March 2nd. Royal Bank Of Canada assumed coverage on Privia Health Group in a research report on Friday, January 9th. They issued an "outperform" rating and a $31.00 price objective for the company. Finally, Wolfe Research set a $31.00 target price on Privia Health Group in a research report on Tuesday, January 6th. Thirteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $31.00.

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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