Privia Health Group (NASDAQ:PRVA) Price Target Raised to $32.00

Privia Health Group (NASDAQ:PRVA - Get Free Report) had its price objective lifted by investment analysts at JPMorgan Chase & Co. from $29.00 to $32.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s target price would suggest a potential upside of 38.97% from the stock's current price.

A number of other brokerages also recently weighed in on PRVA. Barclays increased their price target on Privia Health Group from $23.00 to $24.00 and gave the stock an "equal weight" rating in a report on Tuesday. Needham & Company LLC reaffirmed a "buy" rating and issued a $30.00 price target on shares of Privia Health Group in a report on Thursday, April 10th. Robert W. Baird boosted their target price on shares of Privia Health Group from $24.00 to $26.00 and gave the company an "outperform" rating in a report on Tuesday, April 15th. Piper Sandler boosted their target price on shares of Privia Health Group from $25.00 to $40.00 and gave the company an "overweight" rating in a report on Friday, February 28th. Finally, Truist Financial boosted their target price on shares of Privia Health Group from $27.00 to $28.00 and gave the company a "buy" rating in a report on Thursday, April 10th. One research analyst has rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $27.77.

Privia Health Group Stock Down 1.3%

Shares of Privia Health Group stock traded down $0.29 on Wednesday, hitting $23.03. The stock had a trading volume of 158,560 shares, compared to its average volume of 736,513. The stock has a market cap of $2.81 billion, a price-to-earnings ratio of 230.27, a price-to-earnings-growth ratio of 3.47 and a beta of 0.87. The business's 50 day moving average is $23.37 and its two-hundred day moving average is $22.71. Privia Health Group has a twelve month low of $16.37 and a twelve month high of $26.09.

Insider Buying and Selling

In related news, CFO David Mountcastle sold 3,322 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $24.99, for a total value of $83,016.78. Following the sale, the chief financial officer now owns 172,909 shares in the company, valued at approximately $4,320,995.91. This trade represents a 1.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Parth Mehrotra sold 13,773 shares of the 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 transaction, the chief executive officer now owns 423,143 shares in the company, valued at $10,574,343.57. The trade was a 3.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 51,579 shares of company stock valued at $1,226,367 over the last three months. Corporate insiders own 10.70% of the company's stock.

Hedge Funds Weigh In On Privia Health Group

A number of institutional investors and hedge funds have recently made changes to their positions in PRVA. First Horizon Advisors Inc. boosted its stake in shares of Privia Health Group by 53.8% during the 4th quarter. First Horizon Advisors Inc. now owns 1,807 shares of the company's stock worth $35,000 after purchasing an additional 632 shares during the period. CWM LLC boosted its stake in shares of Privia Health Group by 50.3% during the 1st quarter. CWM LLC now owns 1,804 shares of the company's stock worth $40,000 after purchasing an additional 604 shares during the period. EverSource Wealth Advisors LLC boosted its position 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 buying an additional 2,350 shares during the period. Bessemer Group Inc. boosted 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 valued at $51,000 after buying an additional 2,178 shares during the period. Finally, Russell Investments Group Ltd. boosted its position in Privia Health Group by 2,852.2% in the 1st quarter. Russell Investments Group Ltd. now owns 2,657 shares of the company's stock valued at $60,000 after buying an additional 2,567 shares during the period. 94.48% of the stock is owned by hedge funds and other institutional investors.

Privia Health Group Company Profile

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.

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