Insider Selling: Privia Health Group (NASDAQ:PRVA) Director Sells $1,613,481.21 in Stock

Privia Health Group, Inc. (NASDAQ:PRVA) Director Matthew Shawn Morris sold 59,037 shares of the stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $27.33, for a total transaction of $1,613,481.21. Following the completion of the sale, the director directly owned 76,651 shares of the company’s stock, valued at $2,094,871.83. This trade represents a 43.51% decrease in their ownership of the stock. The transaction was disclosed in a 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.

Matthew Shawn Morris also recently made the following trade(s):

• On Monday, July 6th, Matthew Shawn Morris sold 53,722 shares of Privia Health Group stock. The shares were sold at an average price of $27.24, for a total transaction of $1,463,387.28.
• On Monday, June 29th, Matthew Shawn Morris sold 63,212 shares of Privia Health Group stock. The shares were sold at an average price of $25.33, for a total transaction of $1,601,159.96.
• On Friday, June 26th, Matthew Shawn Morris sold 88,110 shares of Privia Health Group stock. The shares were sold at an average price of $25.33, for a total transaction of $2,231,826.30.
• On Friday, May 1st, Matthew Shawn Morris sold 17,096 shares of Privia Health Group stock. The stock was sold at an average price of $24.99, for a total transaction of $427,229.04.
• On Monday, May 4th, Matthew Shawn Morris sold 1,017 shares of Privia Health Group stock. The shares were sold at an average price of $24.96, for a total transaction of $25,384.32.

Privia Health Group Stock Up 2.1%

Privia Health Group stock opened at $27.77 on Friday. The company’s fifty day simple moving average is $23.71 and its 200-day simple moving average is $23.11. Privia Health Group, Inc. has a 12 month low of $18.77 and a 12 month high of $27.81. The stock has a market cap of $3.50 billion, a P/E ratio of 173.57, a P/E/G ratio of 2.15 and a beta of 0.83.

Wall Street Analysts Forecast Growth

PRVA has been the topic of a number of recent research reports. Evercore set a $26.00 target price on Privia Health Group in a research note on Wednesday, April 8th. Canaccord Genuity Group reduced their price target on Privia Health Group from $35.00 to $34.00 and set a “buy” rating for the company in a report on Friday, May 8th. Weiss Ratings upgraded Privia Health Group from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, July 2nd. Zacks Research cut Privia Health Group from a “hold” rating to a “strong sell” rating in a research note on Tuesday. Finally, Barclays dropped their price objective on Privia Health Group from $25.00 to $24.00 and set an “equal weight” rating on the stock in a report on Tuesday, May 26th. Eleven analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $31.15.

Institutional Trading of Privia Health Group

Large investors have recently made changes to their positions in the stock. ArrowMark Colorado Holdings LLC acquired a new stake in shares of Privia Health Group in the third quarter worth $8,750,000. Renaissance Group LLC acquired a new position in Privia Health Group in the 4th quarter valued at $7,776,000. Principal Financial Group Inc. grew its stake in Privia Health Group by 1.6% in the 4th quarter. Principal Financial Group Inc. now owns 2,787,802 shares of the company’s stock valued at $66,099,000 after buying an additional 43,589 shares during the last quarter. Algert Global LLC raised its holdings in Privia Health Group by 277.4% in the 3rd quarter. Algert Global LLC now owns 484,304 shares of the company’s stock worth $12,059,000 after acquiring an additional 355,966 shares during the period. Finally, Louisiana State Employees Retirement System bought a new position in Privia Health Group in the 1st quarter worth $1,055,000. Institutional investors own 94.48% of the company’s stock.

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.