Privia Health Group (NASDAQ:PRVA) CEO Sells $2,377,649.45 in Stock

Privia Health Group, Inc. (NASDAQ:PRVA) CEO Parth Mehrotra sold 105,439 shares of Privia Health Group stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $22.55, for a total transaction of $2,377,649.45. Following the transaction, the chief executive officer owned 450,004 shares of the company’s stock, valued at $10,147,590.20. This represents a 18.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Parth Mehrotra also recently made the following trade(s):

• On Tuesday, May 12th, Parth Mehrotra sold 15,647 shares of Privia Health Group stock. The shares were sold at an average price of $22.64, for a total transaction of $354,248.08.
• On Monday, March 16th, Parth Mehrotra sold 26,509 shares of Privia Health Group stock. The shares were sold at an average price of $22.11, for a total transaction of $586,113.99.
• On Friday, March 13th, Parth Mehrotra sold 27,229 shares of Privia Health Group stock. The shares were sold at an average price of $21.52, for a total transaction of $585,968.08.
• On Thursday, March 12th, Parth Mehrotra sold 26,763 shares of Privia Health Group stock. The shares were sold at an average price of $21.90, for a total transaction of $586,109.70.
• On Tuesday, March 10th, Parth Mehrotra sold 21,097 shares of Privia Health Group stock. The shares were sold at an average price of $22.71, for a total transaction of $479,112.87.
• On Monday, March 9th, Parth Mehrotra sold 41,999 shares of Privia Health Group stock. The shares were sold at an average price of $22.86, for a total transaction of $960,097.14.
• On Friday, March 6th, Parth Mehrotra sold 21,440 shares of Privia Health Group stock. The shares were sold at an average price of $23.15, for a total value of $496,336.00.

Privia Health Group Stock Performance

PRVA traded down $0.38 during mid-day trading on Wednesday, reaching $22.63. 1,007,566 shares of the stock were exchanged, compared to its average volume of 1,024,863. The stock has a market capitalization of $2.85 billion, a PE ratio of 141.45, a price-to-earnings-growth ratio of 1.69 and a beta of 0.96. The company has a 50 day moving average price of $22.65 and a two-hundred day moving average price of $23.25. Privia Health Group, Inc. has a 1 year low of $18.77 and a 1 year high of $26.51.

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

Hedge Funds Weigh In On Privia Health Group

A number of hedge funds and other institutional investors have recently bought and sold shares of PRVA. Van Berkom & Associates Inc. grew its stake in Privia Health Group by 30.1% in the 3rd quarter. Van Berkom & Associates Inc. now owns 3,774,565 shares of the company’s stock worth $93,987,000 after buying an additional 873,344 shares in the last quarter. Vanguard Group Inc. grew its stake in Privia Health Group by 5.3% in the 3rd quarter. Vanguard Group Inc. now owns 12,098,933 shares of the company’s stock worth $301,263,000 after buying an additional 607,447 shares in the last quarter. ArrowMark Colorado Holdings LLC grew its stake in Privia Health Group by 139.4% in the 4th quarter. ArrowMark Colorado Holdings LLC now owns 841,266 shares of the company’s stock worth $19,946,000 after buying an additional 489,866 shares in the last quarter. Algert Global LLC grew its stake 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 buying an additional 355,966 shares in the last quarter. Finally, Freestone Grove Partners LP grew its stake in Privia Health Group by 40.6% in the 4th quarter. Freestone Grove Partners LP now owns 1,213,342 shares of the company’s stock worth $28,768,000 after buying an additional 350,194 shares in the last quarter. Hedge funds and other institutional investors own 94.48% of the company’s stock.

Wall Street Analysts Forecast Growth

PRVA has been the topic of several research reports. Weiss Ratings lowered shares of Privia Health Group from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, May 8th. Canaccord Genuity Group lowered their price target on shares of Privia Health Group from $35.00 to $34.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. Piper Sandler reissued an “overweight” rating and issued a $36.00 price target on shares of Privia Health Group in a research report on Thursday, February 26th. Citigroup reduced their price objective on shares of Privia Health Group from $34.00 to $32.00 and set a “buy” rating for the company in a research note on Tuesday, March 3rd. Finally, Barclays boosted their price objective on shares of 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 research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average 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.