Brokerages Set Privia Health Group, Inc. (NASDAQ:PRVA) Target Price at $31.15

Privia Health Group, Inc. (NASDAQ:PRVA) has been given an average rating of “Moderate Buy” by the fourteen research firms that are presently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and eleven have issued a buy recommendation on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $31.1538.

Several equities analysts recently issued reports on PRVA shares. Canaccord Genuity Group decreased their target price on shares of Privia Health Group from $35.00 to $34.00 and set a “buy” rating for the company in a research note on Friday, May 8th. Evercore set a $26.00 price objective on shares of Privia Health Group in a report on Wednesday, April 8th. Weiss Ratings upgraded shares of Privia Health Group from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, July 2nd. Barclays dropped their target price on Privia Health Group from $25.00 to $24.00 and set an “equal weight” rating on the stock in a research report on Tuesday, May 26th. Finally, Zacks Research lowered Privia Health Group from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 7th.

Privia Health Group Trading Down 3.1%

Shares of NASDAQ:PRVA opened at $27.22 on Friday. Privia Health Group has a 12-month low of $18.77 and a 12-month high of $28.82. The business has a 50 day moving average of $24.05 and a two-hundred day moving average of $23.24. The company has a market capitalization of $3.43 billion, a PE ratio of 170.14, a PEG ratio of 2.22 and a beta of 0.83.

Insider Transactions at Privia Health Group

In related news, CFO David Mountcastle sold 24,734 shares of the business’s stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $27.50, for a total value of $680,185.00. Following the completion of the sale, the chief financial officer owned 186,728 shares of the company’s stock, valued at approximately $5,135,020. The trade was a 11.70% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Matthew Shawn Morris sold 88,110 shares of the company’s stock in a transaction on Friday, June 26th. The stock was sold at an average price of $25.33, for a total transaction of $2,231,826.30. Following the transaction, the director owned 76,651 shares of the company’s stock, valued at $1,941,569.83. This represents a 53.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 478,855 shares of company stock valued at $12,099,109 in the last three months. 5.70% of the stock is currently owned by company insiders.

Institutional Trading of Privia Health Group

Institutional investors and hedge funds have recently modified their holdings of the stock. Bayban purchased a new position in Privia Health Group in the 4th quarter valued at about $26,000. Hantz Financial Services Inc. boosted its holdings in Privia Health Group by 456.2% in the 4th quarter. Hantz Financial Services Inc. now owns 1,129 shares of the company’s stock worth $27,000 after buying an additional 926 shares during the last quarter. Global Retirement Partners LLC increased its stake in Privia Health Group by 579.8% during the 4th quarter. Global Retirement Partners LLC now owns 1,584 shares of the company’s stock worth $38,000 after buying an additional 1,351 shares in the last quarter. Harbor Investment Advisory LLC purchased a new stake in Privia Health Group during the 2nd quarter worth approximately $69,000. Finally, Canada Pension Plan Investment Board raised its holdings in shares of Privia Health Group by 48.0% during the second quarter. Canada Pension Plan Investment Board now owns 3,700 shares of the company’s stock valued at $85,000 after acquiring an additional 1,200 shares during the last quarter. Hedge funds and other institutional investors own 94.48% of the company’s stock.

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.