Privia Health Group, Inc. (NASDAQ:PRVA) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Privia Health Group, Inc. (NASDAQ:PRVA) has been assigned an average rating of “Moderate Buy” from the fourteen ratings firms that are presently covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $31.00.

Several equities research analysts have recently weighed in on PRVA shares. Zacks Research raised shares of Privia Health Group from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 5th. Weiss Ratings upgraded shares of Privia Health Group from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, July 2nd. Citigroup reaffirmed a “buy” rating on shares of Privia Health Group in a research note on Thursday, July 23rd. Canaccord Genuity Group set a $32.00 price objective on shares of Privia Health Group in a report on Friday, August 7th. Finally, Barclays dropped their price objective on shares of Privia Health Group from $25.00 to $24.00 and set an “equal weight” rating for the company in a report on Tuesday, May 26th.

Insider Buying and Selling

In other Privia Health Group news, Director Matthew Shawn Morris sold 53,722 shares of Privia Health Group stock in a transaction on Monday, July 6th. The stock was sold at an average price of $27.24, for a total value of $1,463,387.28. Following the completion of the transaction, the director owned 68,188 shares in the company, valued at approximately $1,857,441.12. The trade was a 44.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO David Mountcastle sold 21,275 shares of the business’s stock in a transaction on Thursday, July 9th. The stock was sold at an average price of $27.67, for a total value of $588,679.25. Following the completion of the transaction, the chief financial officer directly owned 164,853 shares in the company, valued at approximately $4,561,482.51. This represents a 11.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 327,886 shares of company stock worth $8,628,256. 5.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. BlackRock Inc. bought a new stake in Privia Health Group during the 2nd quarter worth about $550,684,000. Bank of New York Mellon Corp bought a new position in shares of Privia Health Group in the second quarter worth about $74,425,000. ArrowMark Colorado Holdings LLC raised its stake in shares of Privia Health Group by 139.4% in the fourth quarter. ArrowMark Colorado Holdings LLC now owns 841,266 shares of the company’s stock worth $19,946,000 after acquiring an additional 489,866 shares during the last quarter. Freestone Grove Partners LP raised its stake in shares of 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 worth $28,768,000 after acquiring an additional 350,194 shares during the last quarter. Finally, Renaissance Group LLC acquired a new position in shares of Privia Health Group during the fourth quarter worth approximately $7,776,000. 94.48% of the stock is owned by institutional investors.

Privia Health Group Price Performance

Privia Health Group stock opened at $21.54 on Thursday. The stock has a fifty day moving average price of $24.70 and a two-hundred day moving average price of $23.31. Privia Health Group has a 52-week low of $19.53 and a 52-week high of $28.82. The firm has a market capitalization of $2.75 billion, a P/E ratio of 102.58, a P/E/G ratio of 1.77 and a beta of 0.85.

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.