Analysts Set Privia Health Group, Inc. (NASDAQ:PRVA) PT at $31.15

Privia Health Group, Inc. (NASDAQ:PRVA) has received an average recommendation of “Moderate Buy” from the fourteen research firms that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and eleven have issued a buy recommendation on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $31.1538.

A number of research firms have weighed in on PRVA. Evercore set a $26.00 target price on shares of Privia Health Group in a report on Wednesday, April 8th. Canaccord Genuity Group dropped their price target 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. Zacks Research lowered shares of Privia Health Group from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 7th. Barclays reduced their price objective on shares of Privia Health Group from $25.00 to $24.00 and set an “equal weight” rating on the stock in a research note on Tuesday, May 26th. Finally, Weiss Ratings raised Privia Health Group from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, July 2nd.

Insider Buying and Selling

In related news, CFO David Mountcastle sold 24,734 shares of Privia Health Group stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $27.50, for a total value of $680,185.00. Following the transaction, the chief financial officer directly owned 186,728 shares of the company’s stock, valued at $5,135,020. The trade was a 11.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 that occurred on Friday, June 26th. The shares were sold at an average price of $25.33, for a total value of $2,231,826.30. Following the completion of the sale, the director owned 76,651 shares in the company, valued at $1,941,569.83. The trade was 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 have sold a total of 478,855 shares of company stock valued at $12,099,109 over the last ninety days. 5.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Privia Health Group

A number of institutional investors have recently modified their holdings of the company. Durable Capital Partners LP raised its stake in Privia Health Group by 1.8% during the third quarter. Durable Capital Partners LP now owns 11,691,685 shares of the company’s stock worth $291,123,000 after buying an additional 203,842 shares during the last quarter. State Street Corp boosted its position in Privia Health Group by 1.5% during the second quarter. State Street Corp now owns 4,171,069 shares of the company’s stock valued at $95,935,000 after acquiring an additional 61,853 shares during the last quarter. Van Berkom & Associates Inc. boosted its position in Privia Health Group by 5.4% during the first quarter. Van Berkom & Associates Inc. now owns 4,053,043 shares of the company’s stock valued at $83,371,000 after acquiring an additional 208,787 shares during the last quarter. Geode Capital Management LLC grew its holdings in Privia Health Group by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 2,814,290 shares of the company’s stock worth $66,738,000 after acquiring an additional 31,204 shares during the period. Finally, Principal Financial Group Inc. grew its holdings in Privia Health Group by 1.6% during the 4th quarter. Principal Financial Group Inc. now owns 2,787,802 shares of the company’s stock worth $66,099,000 after acquiring an additional 43,589 shares during the period. 94.48% of the stock is owned by institutional investors.

Privia Health Group Price Performance

Privia Health Group stock opened at $26.90 on Friday. The business has a 50 day moving average of $24.12 and a 200-day moving average of $23.27. Privia Health Group has a 1 year low of $18.77 and a 1 year high of $28.82. The company has a market capitalization of $3.39 billion, a P/E ratio of 168.14, a P/E/G ratio of 2.13 and a beta of 0.83.

Privia Health Group Company Profile

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.