Insider Selling: Privia Health Group (NASDAQ:PRVA) CEO Sells $479,112.87 in Stock

Privia Health Group, Inc. (NASDAQ:PRVA) CEO Parth Mehrotra sold 21,097 shares of the firm’s stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $22.71, for a total value of $479,112.87. Following the completion of the transaction, the chief executive officer owned 322,698 shares of the company’s stock, valued at approximately $7,328,471.58. The trade was a 6.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Parth Mehrotra also recently made the following trade(s):

• On Monday, March 9th, Parth Mehrotra sold 41,999 shares of Privia Health Group stock. The shares were sold at an average price of $22.86, for a total value 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 Trading Down 0.2%

PRVA opened at $21.68 on Friday. 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 $2.68 billion, a PE ratio of 127.53, a P/E/G ratio of 1.37 and a beta of 0.82. The firm has a 50 day moving average of $22.89 and a two-hundred day moving average of $23.60.

Privia Health Group (NASDAQ:PRVA) last announced its quarterly earnings data on Thursday, February 26th. The company reported $0.25 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 analysts’ expectations of $516.61 million. Privia Health Group had a net margin of 1.08% and a return on equity of 3.06%. The business’s quarterly revenue was up 17.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.21 EPS. As a group, analysts predict that Privia Health Group, Inc. will post 0.14 EPS for the current fiscal year.

Hedge Funds Weigh In On Privia Health Group

A number of hedge funds have recently made changes to their positions in PRVA. Van Berkom & Associates Inc. boosted its stake in shares of Privia Health Group by 30.1% in the third quarter. Van Berkom & Associates Inc. now owns 3,774,565 shares of the company’s stock worth $93,987,000 after acquiring an additional 873,344 shares during the last quarter. Vanguard Group Inc. raised its stake in Privia Health Group by 5.3% in the 3rd quarter. Vanguard Group Inc. now owns 12,098,933 shares of the company’s stock valued at $301,263,000 after purchasing an additional 607,447 shares during the last quarter. ArrowMark Colorado Holdings LLC lifted its holdings in Privia Health Group by 139.4% in the 4th quarter. ArrowMark Colorado Holdings LLC now owns 841,266 shares of the company’s stock valued at $19,946,000 after purchasing an additional 489,866 shares in the last quarter. Algert Global LLC lifted its holdings in Privia Health Group by 277.4% in the 3rd quarter. Algert Global LLC now owns 484,304 shares of the company’s stock valued at $12,059,000 after purchasing an additional 355,966 shares in the last quarter. Finally, Freestone Grove Partners LP boosted its stake in Privia Health Group by 40.6% during the 4th quarter. Freestone Grove Partners LP now owns 1,213,342 shares of the company’s stock worth $28,768,000 after purchasing an additional 350,194 shares during the last quarter. Institutional investors and hedge funds own 94.48% of the company’s stock.

Analyst Ratings Changes

PRVA has been the topic of several analyst reports. Citigroup cut their price target on 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. Wolfe Research set a $31.00 target price on Privia Health Group in a research note on Tuesday, January 6th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Privia Health Group in a report on Monday, December 29th. Canaccord Genuity Group lifted their price target on Privia Health Group from $34.00 to $35.00 and gave the company a “buy” rating in a research report on Friday, February 27th. Finally, Piper Sandler reissued an “overweight” rating and issued a $36.00 price target on shares of Privia Health Group in a report on Thursday, February 26th. Thirteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $31.00.

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.