Privia Health Group (NASDAQ:PRVA) Trading Down 6.3% – Should You Sell?

Privia Health Group, Inc. (NASDAQ:PRVA) fell 6.3% during trading on Tuesday . The stock traded as low as $22.39 and last traded at $22.5740. 241,484 shares were traded during trading, a decline of 61% from the average session volume of 624,117 shares. The stock had previously closed at $24.10.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Citigroup reaffirmed a “market outperform” rating on shares of Privia Health Group in a report on Tuesday, January 6th. BMO Capital Markets started coverage on Privia Health Group in a report on Thursday, November 13th. They set an “outperform” rating and a $30.00 price target for the company. Weiss Ratings restated a “hold (c)” rating on shares of Privia Health Group in a research report on Monday, December 29th. Royal Bank Of Canada assumed coverage on Privia Health Group in a report on Friday, January 9th. They set an “outperform” rating and a $31.00 price target on the stock. Finally, Truist Financial reiterated a “buy” rating and issued a $31.00 price target (up previously from $30.00) on shares of Privia Health Group in a research report on Monday, November 10th. Thirteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $30.50.

Privia Health Group Stock Down 5.1%

The firm has a 50 day moving average of $23.83 and a 200 day moving average of $23.10. The firm has a market cap of $2.81 billion, a PE ratio of 175.87, a P/E/G ratio of 1.68 and a beta of 0.83.

Privia Health Group (NASDAQ:PRVA) last issued its quarterly earnings results on Thursday, November 6th. The company reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.23. Privia Health Group had a return on equity of 2.52% and a net margin of 0.89%.The firm had revenue of $580.42 million for the quarter, compared to analysts’ expectations of $494.98 million. During the same quarter in the prior year, the firm earned $0.20 EPS. The business’s revenue for the quarter was up 32.5% compared to the same quarter last year. On average, research analysts anticipate that Privia Health Group, Inc. will post 0.14 EPS for the current year.

Insider Activity

In related news, CFO David Mountcastle sold 23,887 shares of Privia Health Group stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $25.03, for a total value of $597,891.61. Following the completion of the transaction, the chief financial officer directly owned 172,909 shares in the company, valued at approximately $4,327,912.27. The trade was a 12.14% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Matthew Shawn Morris sold 13,647 shares of the stock in a transaction on Friday, December 12th. The stock was sold at an average price of $25.01, for a total value of $341,311.47. Following the sale, the director owned 68,188 shares in the company, valued at approximately $1,705,381.88. This represents a 16.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 10.70% of the stock is owned by company insiders.

Institutional Trading of Privia Health Group

Hedge funds and other institutional investors have recently made changes to their positions in the stock. CWM LLC boosted its stake in Privia Health Group by 89.4% in the 2nd quarter. CWM LLC now owns 3,416 shares of the company’s stock worth $79,000 after purchasing an additional 1,612 shares during the period. Canada Pension Plan Investment Board boosted its position in shares of Privia Health Group by 48.0% in the second quarter. Canada Pension Plan Investment Board now owns 3,700 shares of the company’s stock valued at $85,000 after acquiring an additional 1,200 shares during the period. GAMMA Investing LLC grew its stake in Privia Health Group by 198.5% during the fourth quarter. GAMMA Investing LLC now owns 4,314 shares of the company’s stock valued at $102,000 after acquiring an additional 2,869 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Privia Health Group during the 2nd quarter worth approximately $113,000. Finally, Covestor Ltd increased its holdings in Privia Health Group by 39.8% during the 3rd quarter. Covestor Ltd now owns 5,824 shares of the company’s stock worth $145,000 after acquiring an additional 1,657 shares during the period. 94.48% of the stock is currently owned by institutional investors.

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.