Privia Health Group (NASDAQ:PRVA) Sets New 1-Year High - Here's What Happened

Privia Health Group, Inc. (NASDAQ:PRVA - Get Free Report) reached a new 52-week high on Wednesday . The company traded as high as $23.66 and last traded at $23.48, with a volume of 715311 shares. The stock had previously closed at $23.41.

Analysts Set New Price Targets

PRVA has been the topic of a number of recent research reports. Barclays boosted their target price on shares of Privia Health Group from $21.00 to $23.00 and gave the stock an "equal weight" rating in a research report on Thursday, April 10th. Canaccord Genuity Group boosted their price objective on shares of Privia Health Group from $29.00 to $30.00 and gave the stock a "buy" rating in a report on Friday, February 28th. Truist Financial raised their target price on Privia Health Group from $27.00 to $28.00 and gave the company a "buy" rating in a research note on Thursday, April 10th. JMP Securities reiterated a "market outperform" rating and issued a $29.00 price target on shares of Privia Health Group in a research note on Monday, April 28th. Finally, Robert W. Baird raised their price objective on Privia Health Group from $24.00 to $26.00 and gave the company an "outperform" rating in a research note on Tuesday, April 15th. One research analyst has rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $27.38.

Privia Health Group Stock Performance

The firm has a market capitalization of $2.75 billion, a price-to-earnings ratio of 227.09, a price-to-earnings-growth ratio of 3.47 and a beta of 0.87. The company's fifty day moving average price is $23.47 and its 200 day moving average price is $22.16.

Insider Activity

In related news, CFO David Mountcastle sold 3,445 shares of the company's stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $23.33, for a total transaction of $80,371.85. Following the completion of the transaction, the chief financial officer now directly owns 176,231 shares in the company, valued at $4,111,469.23. This represents a 1.92 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Matthew Shawn Morris sold 10,309 shares of the firm's stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $23.33, for a total value of $240,508.97. Following the completion of the sale, the director now owns 59,792 shares in the company, valued at $1,394,947.36. The trade was a 14.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 34,484 shares of company stock valued at $799,163. 10.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Privia Health Group

Several large investors have recently made changes to their positions in PRVA. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Privia Health Group in the 1st quarter worth approximately $625,000. Choreo LLC grew its stake in shares of Privia Health Group by 10.7% in the first quarter. Choreo LLC now owns 24,182 shares of the company's stock worth $543,000 after purchasing an additional 2,341 shares in the last quarter. Wealth Alliance LLC acquired a new position in shares of Privia Health Group during the first quarter valued at $238,000. Victory Capital Management Inc. raised its stake in shares of Privia Health Group by 7.4% during the first quarter. Victory Capital Management Inc. now owns 311,461 shares of the company's stock valued at $6,992,000 after purchasing an additional 21,452 shares in the last quarter. Finally, MQS Management LLC acquired a new stake in Privia Health Group in the first quarter worth about $210,000. Institutional investors and hedge funds own 94.48% of the company's stock.

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.