Barclays Raises Privia Health Group (NASDAQ:PRVA) Price Target to $24.00

Privia Health Group (NASDAQ:PRVA - Get Free Report) had its price target boosted by analysts at Barclays from $23.00 to $24.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has an "equal weight" rating on the stock. Barclays's price objective suggests a potential upside of 6.43% from the company's current price.

A number of other research analysts have also recently weighed in on PRVA. Needham & Company LLC reissued a "buy" rating and set a $30.00 price objective on shares of Privia Health Group in a research note on Thursday, April 10th. Truist Financial increased their price target on Privia Health Group from $27.00 to $28.00 and gave the company a "buy" rating in a report on Thursday, April 10th. Canaccord Genuity Group boosted their price target on Privia Health Group from $29.00 to $30.00 and gave the stock a "buy" rating in a research note on Friday, February 28th. Robert W. Baird increased their target price on Privia Health Group from $24.00 to $26.00 and gave the stock an "outperform" rating in a report on Tuesday, April 15th. Finally, JMP Securities restated a "market outperform" rating and issued a $29.00 target price on shares of Privia Health Group in a research report on Monday, April 28th. One analyst has rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $27.77.

Privia Health Group Price Performance

Shares of PRVA stock traded down $0.52 during midday trading on Tuesday, hitting $22.55. The company had a trading volume of 680,870 shares, compared to its average volume of 737,890. Privia Health Group has a 52-week low of $16.37 and a 52-week high of $26.09. The company's 50 day simple moving average is $23.34 and its 200 day simple moving average is $22.71. The stock has a market cap of $2.75 billion, a price-to-earnings ratio of 225.52, a PEG ratio of 3.47 and a beta of 0.87.

Insider Transactions at Privia Health Group

In related news, Director Matthew Shawn Morris sold 10,309 shares of the firm's stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $23.33, for a total transaction of $240,508.97. Following the transaction, the director now owns 59,792 shares of the company's stock, valued at approximately $1,394,947.36. This trade represents a 14.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Parth Mehrotra sold 13,773 shares of the business's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $24.99, for a total transaction of $344,187.27. Following the completion of the sale, the chief executive officer now directly owns 423,143 shares of the company's stock, valued at $10,574,343.57. This represents a 3.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 51,579 shares of company stock valued at $1,226,367. 10.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Privia Health Group

Several hedge funds have recently bought and sold shares of the business. First Horizon Advisors Inc. increased its position in Privia Health Group by 53.8% in the 4th quarter. First Horizon Advisors Inc. now owns 1,807 shares of the company's stock worth $35,000 after buying an additional 632 shares during the period. CWM LLC boosted its holdings in Privia Health Group by 50.3% in the 1st quarter. CWM LLC now owns 1,804 shares of the company's stock valued at $40,000 after purchasing an additional 604 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in Privia Health Group by 7,833.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 2,380 shares of the company's stock valued at $47,000 after purchasing an additional 2,350 shares during the period. Bessemer Group Inc. grew its position in Privia Health Group by 2,393.4% in the 1st quarter. Bessemer Group Inc. now owns 2,269 shares of the company's stock worth $51,000 after purchasing an additional 2,178 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its holdings in shares of Privia Health Group by 2,852.2% during the 1st quarter. Russell Investments Group Ltd. now owns 2,657 shares of the company's stock worth $60,000 after purchasing an additional 2,567 shares during the period. 94.48% of the stock is owned by institutional investors and hedge funds.

About Privia Health Group

Privia Health Group, Inc operates as a national physician-enablement company in the United States. The company collaborates with medical groups, health plans, and health systems to optimize physician practices, enhance patient experiences, and reward doctors for delivering care in-person and virtual settings.