Privia Health Group (NASDAQ:PRVA) EVP Edward Fargis Sells 4,394 Shares

Privia Health Group, Inc. (NASDAQ:PRVA) EVP Edward Fargis sold 4,394 shares of the business’s stock in a transaction on Friday, March 6th. The shares were sold at an average price of $23.15, for a total transaction of $101,721.10. Following the sale, the executive vice president directly owned 88,660 shares of the company’s stock, valued at approximately $2,052,479. The trade was a 4.72% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Privia Health Group Stock Performance

Shares of Privia Health Group stock opened at $22.47 on Wednesday. The stock has a market cap of $2.78 billion, a P/E ratio of 132.18, a P/E/G ratio of 1.52 and a beta of 0.82. The stock’s fifty day moving average is $23.00 and its 200 day moving average is $23.61. Privia Health Group, Inc. has a one year low of $18.77 and a one year high of $26.51.

Privia Health Group (NASDAQ:PRVA) last released its quarterly earnings results on Thursday, February 26th. The company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.21. The business had revenue of $541.17 million during the quarter, compared to analyst estimates of $516.61 million. Privia Health Group had a return on equity of 3.06% and a net margin of 1.08%.Privia Health Group’s revenue for the quarter was up 17.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.21 earnings per share. Analysts predict that Privia Health Group, Inc. will post 0.14 EPS for the current year.

Key Stories Impacting Privia Health Group

Here are the key news stories impacting Privia Health Group this week:

• Negative Sentiment: CEO Parth Mehrotra sold 21,440 shares on March 6 at $23.15 and 41,999 shares on March 9 at $22.86 (total ≈63,439 shares, ≈$1.46M). His holdings fell to 343,795 shares after the sales. CEO Form 4
• Negative Sentiment: CFO David Mountcastle completed two sales (5,177 shares on March 6 at $23.15 and 5,829 shares on March 9 at $22.84), totaling 11,006 shares (~$253k) and reducing his stake to ~161,903 shares. CFO Form 4
• Negative Sentiment: EVP Edward C. Fargis sold 4,394 shares on March 6 at $23.15 and 4,949 shares on March 9 at $22.84 (total 9,343 shares, ~ $215k), lowering his holding to ~83,711 shares. EVP Form 4

Institutional Investors Weigh In On Privia Health Group

A number of hedge funds and other institutional investors have recently made changes to their positions in PRVA. Bayban purchased a new position in Privia Health Group during the fourth quarter worth about $26,000. Hantz Financial Services Inc. grew its holdings in Privia Health Group by 456.2% in the 4th quarter. Hantz Financial Services Inc. now owns 1,129 shares of the company’s stock valued at $27,000 after buying an additional 926 shares during the period. Global Retirement Partners LLC increased its stake in shares of Privia Health Group by 579.8% during the 4th quarter. Global Retirement Partners LLC now owns 1,584 shares of the company’s stock valued at $38,000 after acquiring an additional 1,351 shares during the last quarter. Canada Pension Plan Investment Board lifted its holdings in shares of Privia Health Group by 48.0% during the 2nd quarter. Canada Pension Plan Investment Board now owns 3,700 shares of the company’s stock worth $85,000 after acquiring an additional 1,200 shares during the period. Finally, Kestra Advisory Services LLC purchased a new position in shares of Privia Health Group during the 4th quarter worth about $93,000. Hedge funds and other institutional investors own 94.48% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on PRVA shares. JPMorgan Chase & Co. raised their target price on shares of Privia Health Group from $32.00 to $33.00 and gave the stock an “overweight” rating in a research note on Thursday, November 13th. Stephens reiterated an “overweight” rating and issued a $32.00 price target on shares of Privia Health Group in a research report on Thursday, December 4th. Jefferies Financial Group restated a “buy” rating and set a $32.00 price objective on shares of Privia Health Group in a research report on Thursday, February 26th. Wolfe Research set a $31.00 target price on shares of Privia Health Group in a research note on Tuesday, January 6th. Finally, Citigroup dropped their target price on shares of Privia Health Group from $34.00 to $32.00 and set a “buy” rating for the company in a report on Tuesday, March 3rd. Thirteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.00.

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.