Privia Health Group (NASDAQ:PRVA) Stock Price Down 6.3% – Time to Sell?

Privia Health Group, Inc. (NASDAQ:PRVA) shares fell 6.3% during trading on Tuesday . The company traded as low as $22.39 and last traded at $22.5740. 241,484 shares changed hands during trading, a decline of 61% from the average session volume of 624,117 shares. The stock had previously closed at $24.10.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on PRVA shares. Citigroup reissued a “market outperform” rating on shares of Privia Health Group in a research note on Tuesday, January 6th. Citizens Jmp lifted their target price on shares of Privia Health Group from $30.00 to $31.00 and gave the company a “market outperform” rating in a research report on Friday, November 7th. Weiss Ratings reissued a “hold (c)” rating on shares of Privia Health Group in a research note on Monday, December 29th. BMO Capital Markets started coverage on shares of Privia Health Group in a research report on Thursday, November 13th. They set an “outperform” rating and a $30.00 price objective on the stock. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Privia Health Group from $32.00 to $33.00 and gave the stock an “overweight” rating in a report on Thursday, November 13th. Thirteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $30.50.

Privia Health Group Stock Performance

The firm has a market cap of $2.81 billion, a P/E ratio of 175.87, a price-to-earnings-growth ratio of 1.68 and a beta of 0.83. The business has a 50-day simple moving average of $23.83 and a 200 day simple moving average of $23.10.

Privia Health Group (NASDAQ:PRVA) last posted its earnings results on Thursday, November 6th. The company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.06 by $0.23. Privia Health Group had a net margin of 0.89% and a return on equity of 2.52%. The firm had revenue of $580.42 million during the quarter, compared to analysts’ expectations of $494.98 million. During the same period last year, the company posted $0.20 EPS. The company’s quarterly revenue was up 32.5% compared to the same quarter last year. On average, research analysts expect that Privia Health Group, Inc. will post 0.14 EPS for the current year.

Insider Transactions at Privia Health Group

In related news, Director Matthew Shawn Morris sold 13,647 shares of the business’s stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $25.01, for a total transaction of $341,311.47. Following the sale, the director owned 68,188 shares of the company’s stock, valued at $1,705,381.88. The trade was a 16.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO David Mountcastle sold 23,887 shares of the business’s stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $25.03, for a total value of $597,891.61. Following the completion of the sale, the chief financial officer directly owned 172,909 shares in the company, valued at approximately $4,327,912.27. This represents a 12.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 10.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Privia Health Group

Institutional investors have recently made changes to their positions in the business. Van Berkom & Associates Inc. lifted its position in shares of Privia Health Group by 30.1% during the 3rd quarter. Van Berkom & Associates Inc. now owns 3,774,565 shares of the company’s stock valued at $93,987,000 after buying an additional 873,344 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Privia Health Group by 5.3% in the third quarter. Vanguard Group Inc. now owns 12,098,933 shares of the company’s stock worth $301,263,000 after acquiring an additional 607,447 shares during the period. Algert Global LLC grew its position in shares of Privia Health Group by 277.4% during the third quarter. Algert Global LLC now owns 484,304 shares of the company’s stock worth $12,059,000 after purchasing an additional 355,966 shares in the last quarter. ArrowMark Colorado Holdings LLC bought a new stake in Privia Health Group during the 3rd quarter valued at approximately $8,750,000. Finally, Freestone Grove Partners LP raised its stake in Privia Health Group by 59.6% during the 3rd quarter. Freestone Grove Partners LP now owns 863,148 shares of the company’s stock valued at $21,492,000 after purchasing an additional 322,426 shares during the period. 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.