Barclays Issues Positive Forecast for Privia Health Group (NASDAQ:PRVA) Stock Price

Privia Health Group (NASDAQ:PRVA) had its price objective boosted by research analysts at Barclays from $19.00 to $21.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Barclays‘s target price indicates a potential downside of 3.49% from the stock’s previous close.

Several other analysts have also commented on the stock. Truist Financial raised their price target on shares of Privia Health Group from $24.00 to $27.00 and gave the company a “buy” rating in a research report on Friday. KeyCorp began coverage on Privia Health Group in a research report on Friday, October 11th. They set an “overweight” rating and a $23.00 target price on the stock. Robert W. Baird upped their price target on Privia Health Group from $23.00 to $24.00 and gave the stock an “outperform” rating in a report on Monday, August 26th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $28.00 price target on shares of Privia Health Group in a research report on Wednesday, August 14th. Two investment analysts have rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $25.07.

Privia Health Group Stock Down 3.4 %

Shares of PRVA stock traded down $0.77 on Friday, hitting $21.76. The company had a trading volume of 622,260 shares, compared to its average volume of 865,709. Privia Health Group has a twelve month low of $15.92 and a twelve month high of $24.35. The firm has a market cap of $2.60 billion, a P/E ratio of 181.33, a price-to-earnings-growth ratio of 4.36 and a beta of 0.76. The company has a 50-day moving average price of $18.41 and a 200-day moving average price of $18.34.

Privia Health Group (NASDAQ:PRVA) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.02). Privia Health Group had a return on equity of 2.42% and a net margin of 0.88%. The firm had revenue of $422.30 million for the quarter, compared to analyst estimates of $411.50 million. During the same period in the previous year, the business earned $0.06 EPS. Privia Health Group’s revenue for the quarter was up 2.2% compared to the same quarter last year. Equities research analysts expect that Privia Health Group will post 0.17 EPS for the current year.

Insider Buying and Selling

In other Privia Health Group news, CEO Parth Mehrotra sold 135,142 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $18.50, for a total value of $2,500,127.00. Following the transaction, the chief executive officer now directly owns 247,771 shares of the company’s stock, valued at $4,583,763.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 14.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Privia Health Group

A number of institutional investors have recently added to or reduced their stakes in PRVA. Canada Pension Plan Investment Board purchased a new stake in Privia Health Group in the 2nd quarter valued at $26,000. Nisa Investment Advisors LLC raised its stake in Privia Health Group by 107.5% during the second quarter. Nisa Investment Advisors LLC now owns 1,795 shares of the company’s stock worth $31,000 after purchasing an additional 930 shares during the period. GAMMA Investing LLC boosted its holdings in Privia Health Group by 98.7% in the 3rd quarter. GAMMA Investing LLC now owns 1,701 shares of the company’s stock valued at $31,000 after purchasing an additional 845 shares during the last quarter. Signaturefd LLC grew its stake in shares of Privia Health Group by 46.3% in the 2nd quarter. Signaturefd LLC now owns 1,978 shares of the company’s stock valued at $34,000 after buying an additional 626 shares during the period. Finally, KBC Group NV raised its position in shares of Privia Health Group by 34.6% during the 3rd quarter. KBC Group NV now owns 3,385 shares of the company’s stock valued at $62,000 after buying an additional 871 shares during the period. Hedge funds and other institutional investors own 94.48% of the company’s stock.

About Privia Health Group

Privia Health Group, Inc operates as a national physician-enablement company in the United States. The company collaborates with medical groups, health plans, and health systems to optimize physician practices, enhance patient experiences, and reward doctors for delivering care in-person and virtual settings.