Matthew Shawn Morris Sells 1,017 Shares of Privia Health Group (NASDAQ:PRVA) Stock

Privia Health Group, Inc. (NASDAQ:PRVA) Director Matthew Shawn Morris sold 1,017 shares of Privia Health Group stock in a transaction on Monday, May 4th. The shares were sold at an average price of $24.96, for a total value of $25,384.32. Following the completion of the sale, the director directly owned 68,188 shares of the company’s stock, valued at $1,701,972.48. The trade was a 1.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Matthew Shawn Morris also recently made the following trade(s):

• On Friday, May 1st, Matthew Shawn Morris sold 17,096 shares of Privia Health Group stock. The stock was sold at an average price of $24.99, for a total value of $427,229.04.
• On Thursday, February 26th, Matthew Shawn Morris sold 7,788 shares of Privia Health Group stock. The shares were sold at an average price of $24.99, for a total value of $194,622.12.
• On Friday, February 27th, Matthew Shawn Morris sold 16,550 shares of Privia Health Group stock. The shares were sold at an average price of $25.00, for a total value of $413,750.00.

Privia Health Group Price Performance

NASDAQ PRVA opened at $23.99 on Thursday. The company has a market cap of $3.01 billion, a P/E ratio of 141.12, a P/E/G ratio of 1.51 and a beta of 0.96. The stock has a 50-day moving average of $22.68 and a two-hundred day moving average of $23.35. Privia Health Group, Inc. has a 1-year low of $18.77 and a 1-year high of $26.51.

Privia Health Group (NASDAQ:PRVA) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate 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 net margin of 1.08% and a return on equity of 3.06%. On average, analysts anticipate that Privia Health Group, Inc. will post 0.37 EPS for the current fiscal year.

Key Privia Health Group News

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

• Positive Sentiment: Prior-quarter operating momentum: Privia beat expectations in its last report (Feb. 26) with $0.25 EPS vs. $0.04 est. and revenue of $541.2M (+17.4% YoY), which supports the view that growth and margin improvement are intact. Read More.
• Positive Sentiment: Analyst sentiment leans favorable: multiple firms (RBC, Truist, Jefferies, Wolfe) carry Buy/Outperform views and price targets near $31, indicating upside vs. the current share price. Read More.
• Neutral Sentiment: Q1 earnings is the main catalyst: Privia is scheduled to report Q1 results Thursday; investors will focus on revenue, patient volumes, margins and updated FY guidance — the release should determine the next directional move. Read More.
• Neutral Sentiment: Previews set expectations: recent previews outline items to watch (revenue mix, cost trends, value-based reimbursement progress); a clean beat could lift the stock, while conservative guidance could cap gains. Read More. Read More.
• Negative Sentiment: Insider sales by senior management: CFO David Mountcastle reported Rule 10b5?1 sales (7,179 shares on May 1; 1,206 shares on May 4) — pre-arranged plans reduce governance concern but such disclosures can pressure near-term sentiment. Read More.
• Negative Sentiment: Director selling: Director Matthew Shawn Morris sold sizable blocks (17,096 on May 1 and 1,017 on May 4) under a 10b5?1 plan, representing a material reduction in his position; this may weigh on sentiment despite the planned nature of the trades. Read More.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Van Berkom & Associates Inc. raised its stake in Privia Health Group by 30.1% during the 3rd 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 in the last quarter. Vanguard Group Inc. boosted its stake in Privia Health Group by 5.3% in the third quarter. Vanguard Group Inc. now owns 12,098,933 shares of the company’s stock valued at $301,263,000 after acquiring an additional 607,447 shares in the last quarter. ArrowMark Colorado Holdings LLC grew its holdings in shares of Privia Health Group by 139.4% during the fourth quarter. ArrowMark Colorado Holdings LLC now owns 841,266 shares of the company’s stock worth $19,946,000 after purchasing an additional 489,866 shares during the last quarter. Algert Global LLC grew its holdings in shares of Privia Health Group by 277.4% during the third quarter. Algert Global LLC now owns 484,304 shares of the company’s stock worth $12,059,000 after purchasing an additional 355,966 shares during the last quarter. Finally, Freestone Grove Partners LP increased its position in shares of Privia Health Group by 40.6% during the fourth 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 in the last quarter. 94.48% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on PRVA. Barclays upped 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. Evercore set a $26.00 target price on Privia Health Group in a research note on Wednesday, April 8th. Jefferies Financial Group restated a “buy” rating and set a $32.00 price target on shares of Privia Health Group in a report on Thursday, February 26th. Truist Financial increased their price target on Privia Health Group from $31.00 to $33.00 and gave the company a “buy” rating in a research report on Monday, March 2nd. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Privia Health Group in a research note on Friday, March 27th. Eleven research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Privia Health Group presently has an average rating of “Moderate Buy” and a consensus target price of $31.31.

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.