Insider Selling: Privia Health Group (NASDAQ:PRVA) CFO Sells 3,385 Shares of Stock

Privia Health Group, Inc. (NASDAQ:PRVA) CFO David Mountcastle sold 3,385 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $22.60, for a total value of $76,501.00. Following the sale, the chief financial officer owned 211,462 shares in the company, valued at $4,779,041.20. The trade was a 1.58% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

David Mountcastle also recently made the following trade(s):

• On Monday, May 4th, David Mountcastle sold 1,206 shares of Privia Health Group stock. The stock was sold at an average price of $25.00, for a total value of $30,150.00.
• On Friday, May 1st, David Mountcastle sold 7,179 shares of Privia Health Group stock. The shares were sold at an average price of $25.03, for a total value of $179,690.37.
• On Thursday, April 2nd, David Mountcastle sold 5,566 shares of Privia Health Group stock. The shares were sold at an average price of $20.85, for a total value of $116,051.10.
• On Monday, March 16th, David Mountcastle sold 6,391 shares of Privia Health Group stock. The stock was sold at an average price of $22.11, for a total transaction of $141,305.01.
• On Friday, March 13th, David Mountcastle sold 6,565 shares of Privia Health Group stock. The shares were sold at an average price of $21.52, for a total transaction of $141,278.80.
• On Thursday, March 12th, David Mountcastle sold 6,453 shares of Privia Health Group stock. The stock was sold at an average price of $21.90, for a total transaction of $141,320.70.
• On Monday, March 9th, David Mountcastle sold 5,829 shares of Privia Health Group stock. The stock was sold at an average price of $22.84, for a total transaction of $133,134.36.
• On Friday, March 6th, David Mountcastle sold 5,177 shares of Privia Health Group stock. The shares were sold at an average price of $23.15, for a total transaction of $119,847.55.
• On Thursday, February 26th, David Mountcastle sold 5,361 shares of Privia Health Group stock. The shares were sold at an average price of $25.00, for a total transaction of $134,025.00.
• On Friday, February 27th, David Mountcastle sold 7,697 shares of Privia Health Group stock. The stock was sold at an average price of $25.05, for a total transaction of $192,809.85.

Privia Health Group Stock Down 1.7%

PRVA stock traded down $0.38 during midday trading on Wednesday, reaching $22.63. The company had a trading volume of 1,007,566 shares, compared to its average volume of 877,409. The firm has a market capitalization of $2.85 billion, a PE ratio of 141.45, a P/E/G ratio of 1.67 and a beta of 0.96. The stock has a 50 day moving average price of $22.68 and a 200 day moving average price of $23.27. Privia Health Group, Inc. has a fifty-two week low of $18.77 and a fifty-two week high of $26.51.

Privia Health Group (NASDAQ:PRVA) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.11. Privia Health Group had a return on equity of 2.81% and a net margin of 0.97%.The business had revenue of $603.85 million for the quarter, compared to analysts’ expectations of $560.99 million. During the same period in the prior year, the firm earned $0.22 EPS. The business’s quarterly revenue was up 25.8% on a year-over-year basis. Research analysts predict that Privia Health Group, Inc. will post 0.35 EPS for the current year.

Hedge Funds Weigh In On Privia Health Group

A number of hedge funds have recently modified their holdings of the stock. Bayban purchased a new stake in shares of Privia Health Group during the fourth quarter valued at $26,000. Hantz Financial Services Inc. increased its stake 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 purchasing an additional 926 shares in the last quarter. Global Retirement Partners LLC increased its stake in Privia Health Group by 579.8% in the 4th quarter. Global Retirement Partners LLC now owns 1,584 shares of the company’s stock worth $38,000 after purchasing an additional 1,351 shares in the last quarter. Canada Pension Plan Investment Board raised its holdings in Privia Health Group by 48.0% during the 2nd quarter. Canada Pension Plan Investment Board now owns 3,700 shares of the company’s stock worth $85,000 after buying an additional 1,200 shares during the period. Finally, Kestra Advisory Services LLC acquired a new stake in Privia Health Group during the 4th quarter worth about $93,000. 94.48% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on PRVA. Canaccord Genuity Group lowered 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 report on Friday, May 8th. Piper Sandler reissued an “overweight” rating and set a $36.00 target price on shares of Privia Health Group in a research note on Thursday, February 26th. Truist Financial raised their price target on shares of Privia Health Group from $31.00 to $33.00 and gave the company a “buy” rating in a research note on Monday, March 2nd. Citigroup decreased their price objective on Privia Health Group from $34.00 to $32.00 and set a “buy” rating for the company in a report on Tuesday, March 3rd. Finally, Barclays lifted their target price on Privia Health Group from $23.00 to $25.00 and gave the company an “equal weight” rating in a research note on Wednesday, March 25th. Eleven investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Privia Health Group has an average rating of “Moderate Buy” and a consensus target price of $31.23.

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.