Insider Selling: Privia Health Group (NASDAQ:PRVA) CEO Sells 15,647 Shares of Stock

Privia Health Group, Inc. (NASDAQ:PRVA) CEO Parth Mehrotra sold 15,647 shares of the firm’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $22.64, for a total transaction of $354,248.08. Following the completion of the sale, the chief executive officer owned 434,357 shares in the company, valued at $9,833,842.48. This represents a 3.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 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 Monday, May 11th, Parth Mehrotra sold 105,439 shares of Privia Health Group stock. The stock was sold at an average price of $22.55, for a total transaction of $2,377,649.45.
• On Monday, March 16th, Parth Mehrotra sold 26,509 shares of Privia Health Group stock. The stock was 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 stock was 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 stock was 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 stock was 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 stock was 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 stock was sold at an average price of $23.15, for a total transaction of $496,336.00.

Privia Health Group Stock Performance

Shares of NASDAQ:PRVA traded down $0.38 during midday trading on Wednesday, reaching $22.63. 1,007,566 shares of the company’s stock were exchanged, compared to its average volume of 1,024,863. The company’s 50 day simple moving average is $22.65 and its two-hundred day simple moving average is $23.25. Privia Health Group, Inc. has a 12 month low of $18.77 and a 12 month high of $26.51. The firm 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.

Privia Health Group (NASDAQ:PRVA) last issued its earnings results 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 business had revenue of $603.85 million for the quarter, compared to analyst estimates of $560.99 million. During the same period in the previous year, the business earned $0.22 EPS. The firm’s revenue was up 25.8% on a year-over-year basis. On average, research analysts anticipate that Privia Health Group, Inc. will post 0.35 earnings per share for the current year.

Hedge Funds Weigh In On Privia Health Group

Institutional investors have recently added to or reduced their stakes in the company. Great Lakes Advisors LLC bought a new position in Privia Health Group during the 3rd quarter valued at about $4,487,000. ArrowMark Colorado Holdings LLC bought a new position in shares of Privia Health Group in the third quarter worth about $8,750,000. Royce & Associates LP raised its stake in shares of Privia Health Group by 54.5% in the third quarter. Royce & Associates LP now owns 607,191 shares of the company’s stock worth $15,119,000 after acquiring an additional 214,166 shares during the last quarter. Public Sector Pension Investment Board raised its stake in shares of Privia Health Group by 25.9% in the third quarter. Public Sector Pension Investment Board now owns 450,010 shares of the company’s stock worth $11,205,000 after acquiring an additional 92,507 shares during the last quarter. Finally, Summit Global Investments raised its stake in shares of Privia Health Group by 273.9% in the third quarter. Summit Global Investments now owns 33,677 shares of the company’s stock worth $839,000 after acquiring an additional 24,670 shares during the last quarter. 94.48% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently weighed in on PRVA. Evercore set a $26.00 target price on shares of Privia Health Group in a research report on Wednesday, April 8th. Citigroup decreased their target price on shares of Privia Health Group from $34.00 to $32.00 and set a “buy” rating on the stock in a research report on Tuesday, March 3rd. Canaccord Genuity Group decreased their target price 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. Jefferies Financial Group reiterated a “buy” rating and set a $32.00 target price on shares of Privia Health Group in a research report on Thursday, February 26th. Finally, Barclays lifted their target price on shares of Privia Health Group from $23.00 to $25.00 and gave the company an “equal weight” rating in a research report on Wednesday, March 25th. Eleven investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Privia Health Group presently has a consensus rating of “Moderate Buy” and a consensus 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.