Privia Health Group (NASDAQ:PRVA) Sets New 12-Month High – Here’s What Happened

Privia Health Group, Inc. (NASDAQ:PRVA)’s stock price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $27.95 and last traded at $27.7770, with a volume of 48067 shares changing hands. The stock had previously closed at $27.49.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Barclays lowered their price target 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. Evercore set a $26.00 target price on Privia Health Group in a research note on Wednesday, April 8th. Zacks Research lowered Privia Health Group from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 7th. Canaccord Genuity Group dropped their price target on Privia Health Group from $35.00 to $34.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. Finally, Weiss Ratings raised Privia Health Group from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, July 2nd. Eleven equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $31.15.

Privia Health Group Stock Performance

The company has a fifty day moving average of $23.90 and a two-hundred day moving average of $23.19. The firm has a market capitalization of $3.53 billion, a price-to-earnings ratio of 175.20, a PEG ratio of 2.21 and a beta of 0.83.

Insider Buying and Selling

In other Privia Health Group news, CFO David Mountcastle sold 21,275 shares of the firm’s stock in a transaction on Thursday, July 9th. The stock was sold at an average price of $27.67, for a total transaction of $588,679.25. Following the transaction, the chief financial officer owned 164,853 shares in the company, valued at $4,561,482.51. This trade represents a 11.43% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Matthew Shawn Morris sold 53,722 shares of Privia Health Group stock in a transaction on Monday, July 6th. The shares were sold at an average price of $27.24, for a total value of $1,463,387.28. Following the completion of the transaction, the director directly owned 68,188 shares of the company’s stock, valued at $1,857,441.12. This represents a 44.07% 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 478,855 shares of company stock valued at $12,099,109 over the last 90 days. 5.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in PRVA. Durable Capital Partners LP boosted its holdings in shares of Privia Health Group by 1.8% in the 3rd quarter. Durable Capital Partners LP now owns 11,691,685 shares of the company’s stock valued at $291,123,000 after purchasing an additional 203,842 shares in the last quarter. State Street Corp raised its stake 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 worth $95,935,000 after acquiring an additional 61,853 shares in the last quarter. Van Berkom & Associates Inc. lifted its holdings in shares of Privia Health Group by 5.4% in the first quarter. Van Berkom & Associates Inc. now owns 4,053,043 shares of the company’s stock worth $83,371,000 after acquiring an additional 208,787 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Privia Health Group by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 2,814,290 shares of the company’s stock valued at $66,738,000 after purchasing an additional 31,204 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its stake in shares of 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 purchasing an additional 43,589 shares in the last quarter. 94.48% of the stock is currently owned by institutional investors and hedge funds.

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.