Privia Health Group (NASDAQ:PRVA) CEO Parth Mehrotra Sells 105,439 Shares of Stock

Privia Health Group, Inc. (NASDAQ:PRVA) CEO Parth Mehrotra sold 105,439 shares of the stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $22.55, for a total value of $2,377,649.45. Following the completion of the sale, the chief executive officer directly owned 450,004 shares of the company’s stock, valued at approximately $10,147,590.20. This trade represents a 18.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 Tuesday, May 12th, Parth Mehrotra sold 15,647 shares of Privia Health Group stock. The shares were sold at an average price of $22.64, for a total value of $354,248.08.
• On Monday, March 16th, Parth Mehrotra sold 26,509 shares of Privia Health Group stock. The shares were sold at an average price of $22.11, for a total value of $586,113.99.
• On Friday, March 13th, Parth Mehrotra sold 27,229 shares of Privia Health Group stock. The shares were sold at an average price of $21.52, for a total value of $585,968.08.
• On Thursday, March 12th, Parth Mehrotra sold 26,763 shares of Privia Health Group stock. The shares were sold at an average price of $21.90, for a total value of $586,109.70.
• On Tuesday, March 10th, Parth Mehrotra sold 21,097 shares of Privia Health Group stock. The shares were sold at an average price of $22.71, for a total value of $479,112.87.
• 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 shares were sold at an average price of $23.15, for a total value of $496,336.00.

Privia Health Group Trading Down 1.7%

Shares of NASDAQ PRVA opened at $22.63 on Thursday. Privia Health Group, Inc. has a 1-year low of $18.77 and a 1-year high of $26.51. The stock has a fifty day simple moving average of $22.65 and a two-hundred day simple moving average of $23.25. The firm has a market cap of $2.85 billion, a price-to-earnings 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 quarterly earnings data on Thursday, May 7th. The company reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.11. The business had revenue of $603.85 million for the quarter, compared to analysts’ expectations of $560.99 million. Privia Health Group had a return on equity of 2.81% and a net margin of 0.97%.The firm’s quarterly revenue was up 25.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.22 EPS. Analysts forecast that Privia Health Group, Inc. will post 0.35 EPS for the current year.

Institutional Investors Weigh In On Privia Health Group

Large investors have recently added to or reduced their stakes in the company. Bayban purchased a new stake in Privia Health Group during the fourth quarter valued at about $26,000. Hantz Financial Services Inc. raised its position in Privia Health Group by 456.2% during the fourth quarter. Hantz Financial Services Inc. now owns 1,129 shares of the company’s stock valued at $27,000 after purchasing an additional 926 shares in the last quarter. Global Retirement Partners LLC raised its position in Privia Health Group by 579.8% during the fourth quarter. Global Retirement Partners LLC now owns 1,584 shares of the company’s stock valued at $38,000 after purchasing an additional 1,351 shares in the last quarter. Canada Pension Plan Investment Board raised its position in Privia Health Group by 48.0% during the second quarter. Canada Pension Plan Investment Board now owns 3,700 shares of the company’s stock valued at $85,000 after purchasing an additional 1,200 shares in the last quarter. Finally, Kestra Advisory Services LLC purchased a new stake in Privia Health Group during the fourth quarter valued at about $93,000. Hedge funds and other institutional investors own 94.48% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Piper Sandler reissued an “overweight” rating and set a $36.00 price objective on shares of Privia Health Group in a report on Thursday, February 26th. Barclays increased their price objective on Privia Health Group from $23.00 to $25.00 and gave the stock an “equal weight” rating in a research report on Wednesday, March 25th. Jefferies Financial Group reiterated a “buy” rating and issued a $32.00 price objective on shares of Privia Health Group in a research report on Thursday, February 26th. Canaccord Genuity Group lowered their price objective on 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. Finally, Weiss Ratings downgraded Privia Health Group from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, May 8th. Eleven equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $31.23.

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.