Privia Health Group (NASDAQ:PRVA) Hits New 1-Year High - What's Next?

Privia Health Group, Inc. (NASDAQ:PRVA - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $23.66 and last traded at $23.48, with a volume of 715311 shares changing hands. The stock had previously closed at $23.41.

Analyst Ratings Changes

PRVA has been the subject of several research analyst reports. Barclays lifted their price objective on Privia Health Group from $21.00 to $23.00 and gave the stock an "equal weight" rating in a report on Thursday, April 10th. Piper Sandler increased their price target on Privia Health Group from $25.00 to $40.00 and gave the company an "overweight" rating in a report on Friday, February 28th. Needham & Company LLC reaffirmed a "buy" rating and issued a $30.00 price objective on shares of Privia Health Group in a report on Thursday, April 10th. Robert W. Baird increased their target price on Privia Health Group from $24.00 to $26.00 and gave the company an "outperform" rating in a report on Tuesday, April 15th. Finally, Truist Financial boosted their price target 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. One research 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 company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $27.38.

Privia Health Group Price Performance

The business has a 50-day moving average of $23.50 and a 200 day moving average of $22.10. The company has a market capitalization of $2.83 billion, a PE ratio of 233.22, a P/E/G ratio of 3.47 and a beta of 0.88.

Insider Activity at Privia Health Group

In other news, CEO Parth Mehrotra sold 15,100 shares of Privia Health Group stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $23.33, for a total transaction of $352,283.00. Following the completion of the sale, the chief executive officer now directly owns 454,281 shares in the company, valued at approximately $10,598,375.73. This trade represents a 3.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO David Mountcastle sold 3,445 shares of the company's stock in a transaction dated 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 owns 176,231 shares in the company, valued at approximately $4,111,469.23. The trade was a 1.92 % 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 owned by corporate insiders.

Hedge Funds Weigh In On Privia Health Group

Institutional investors have recently modified their holdings of the stock. CWM LLC grew its stake in Privia Health Group by 50.3% in the first quarter. CWM LLC now owns 1,804 shares of the company's stock worth $40,000 after purchasing an additional 604 shares in the last quarter. First Horizon Advisors Inc. grew its position 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 buying an additional 632 shares in the last quarter. Bessemer Group Inc. increased its stake in shares of Privia Health Group by 2,393.4% during the first 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. EverSource Wealth Advisors LLC raised its holdings in shares of Privia Health Group by 7,833.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 2,380 shares of the company's stock valued at $47,000 after acquiring an additional 2,350 shares in the last quarter. Finally, Financial Management Professionals Inc. purchased a new stake in Privia Health Group in the fourth quarter worth about $51,000. 94.48% of the stock is owned by hedge funds and other institutional investors.

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.