Insider Selling: Privia Health Group (NASDAQ:PRVA) Director Sells $2,231,826.30 in Stock

Privia Health Group, Inc. (NASDAQ:PRVA) Director Matthew Shawn Morris sold 88,110 shares of the business’s stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $25.33, for a total value of $2,231,826.30. Following the transaction, the director directly owned 76,651 shares of the company’s stock, valued at $1,941,569.83. The trade was a 53.48% decrease in their position. The sale was disclosed in a filing with the SEC, which is available 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, 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, May 1st, Matthew Shawn Morris sold 17,096 shares of Privia Health Group stock. The shares were 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 Price Performance

PRVA stock traded up $0.18 during midday trading on Tuesday, reaching $25.73. The company had a trading volume of 863,376 shares, compared to its average volume of 928,529. The firm has a 50-day moving average price of $23.22 and a 200-day moving average price of $22.95. The company has a market capitalization of $3.24 billion, a P/E ratio of 160.82, a P/E/G ratio of 2.02 and a beta of 0.90. 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 posted its quarterly earnings data on Thursday, May 7th. The company reported $0.19 earnings per share 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 firm had revenue of $603.85 million for the quarter, compared to analysts’ expectations of $560.99 million. During the same quarter last year, the company posted $0.22 EPS. The business’s quarterly revenue was up 25.8% on a year-over-year basis. On average, equities analysts predict that Privia Health Group, Inc. will post 0.27 EPS for the current year.

Institutional Investors Weigh In On Privia Health Group

A number of hedge funds and other institutional investors have recently modified their holdings of PRVA. ArrowMark Colorado Holdings LLC boosted its holdings in Privia Health Group by 139.4% during the 4th quarter. ArrowMark Colorado Holdings LLC now owns 841,266 shares of the company’s stock valued at $19,946,000 after acquiring an additional 489,866 shares during the period. Algert Global LLC increased 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 purchasing an additional 355,966 shares during the period. Freestone Grove Partners LP lifted its position in Privia Health Group by 40.6% in the fourth quarter. Freestone Grove Partners LP now owns 1,213,342 shares of the company’s stock valued at $28,768,000 after purchasing an additional 350,194 shares during the last quarter. Renaissance Group LLC purchased a new stake in shares of Privia Health Group during the fourth quarter valued at approximately $7,776,000. Finally, Qube Research & Technologies Ltd boosted its stake in shares of Privia Health Group by 93.3% during the second quarter. Qube Research & Technologies Ltd now owns 609,278 shares of the company’s stock valued at $14,013,000 after purchasing an additional 294,101 shares during the period. Institutional investors own 94.48% of the company’s stock.

Analyst Ratings Changes

PRVA has been the subject of a number of research reports. Citigroup cut their price objective on Privia Health Group from $34.00 to $32.00 and set a “buy” rating for the company in a report on Tuesday, March 3rd. Weiss Ratings cut Privia Health Group from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday, May 8th. Truist Financial boosted their target price on Privia Health Group from $31.00 to $33.00 and gave the stock a “buy” rating in a research report on Monday, March 2nd. Barclays cut their target price on Privia Health Group from $25.00 to $24.00 and set an “equal weight” rating for the company in a research note on Tuesday, May 26th. Finally, Canaccord Genuity Group decreased 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 note on Friday, May 8th. Eleven analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $31.15.

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.