Privia Health Group (NASDAQ:PRVA) EVP Edward Fargis Sells 4,949 Shares

Key Points

• EVP Edward Fargis sold 4,949 shares on March 9 at an average price of $22.84 for about $113,035, reducing his direct ownership by 5.58% to 83,711 shares (SEC filing).
• Privia beat expectations for the quarter with EPS of $0.25 versus a $0.04 estimate and revenue of $541.17M (up 17.4% year-over-year), though net margin is modest at 1.08%.
• Analyst sentiment remains positive—the stock trades near $22.47 with a market cap of ~$2.78B and a consensus "Moderate Buy" rating (average target $31, 13 Buys vs. 3 Holds).

Privia Health Group, Inc. (NASDAQ:PRVA - Get Free Report) EVP Edward Fargis sold 4,949 shares of the stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $22.84, for a total value of $113,035.16. Following the transaction, the executive vice president directly owned 83,711 shares of the company's stock, valued at approximately $1,911,959.24. The trade was a 5.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Privia Health Group Stock Performance

NASDAQ:PRVA traded down $0.83 during trading hours on Tuesday, reaching $22.47. The stock had a trading volume of 1,025,433 shares, compared to its average volume of 813,068. The stock has a market capitalization of $2.78 billion, a PE ratio of 132.18, a PEG ratio of 1.49 and a beta of 0.82. Privia Health Group, Inc. has a 52 week low of $18.77 and a 52 week high of $26.51. The company has a 50 day moving average price of $23.03 and a two-hundred day moving average price of $23.60.

Privia Health Group (NASDAQ:PRVA - Get Free Report) last posted its 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 firm had revenue of $541.17 million during the quarter, compared to analyst estimates of $516.61 million. During the same period last year, the firm posted $0.21 earnings per share. Privia Health Group's revenue for the quarter was up 17.4% compared to the same quarter last year. Equities research analysts predict that Privia Health Group, Inc. will post 0.14 EPS for the current year.

Institutional Investors Weigh In On Privia Health Group

Hedge funds and other institutional investors have recently modified their holdings of the business. Great Lakes Advisors LLC purchased a new stake in shares of Privia Health Group in the 3rd quarter worth $4,487,000. Advantage Alpha Capital Partners LP purchased a new position in shares of Privia Health Group during the second quarter valued at $3,941,000. Hsbc Holdings PLC raised its holdings in shares of Privia Health Group by 69.2% in the second quarter. Hsbc Holdings PLC now owns 113,718 shares of the company's stock valued at $2,549,000 after acquiring an additional 46,526 shares in the last quarter. Edgestream Partners L.P. bought a new stake in shares of Privia Health Group in the second quarter valued at about $2,209,000. Finally, Bailard Inc. purchased a new stake in Privia Health Group in the second quarter worth about $531,000. 94.48% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PRVA has been the topic of several recent research reports. Wolfe Research set a $31.00 target price on shares of Privia Health Group in a research report on Tuesday, January 6th. Truist Financial boosted their price objective on Privia Health Group from $31.00 to $33.00 and gave the stock a "buy" rating in a research note on Monday, March 2nd. Canaccord Genuity Group upped their price objective on Privia Health Group from $34.00 to $35.00 and gave the company a "buy" rating in a research report on Friday, February 27th. Royal Bank Of Canada started coverage on Privia Health Group in a research report on Friday, January 9th. They set an "outperform" rating and a $31.00 target price on the stock. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Privia Health Group in a report on Monday, December 29th. Thirteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently 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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