Privia Health Group (NASDAQ:PRVA) Director Sells $1,601,159.96 in Stock

Privia Health Group, Inc. (NASDAQ:PRVA) Director Matthew Shawn Morris sold 63,212 shares of the company’s stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $25.33, for a total transaction of $1,601,159.96. Following the transaction, the director directly owned 76,651 shares of the company’s stock, valued at $1,941,569.83. This represents a 45.20% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 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, June 26th, Matthew Shawn Morris sold 88,110 shares of Privia Health Group stock. The stock was sold at an average price of $25.33, for a total value of $2,231,826.30.
• On Friday, May 1st, Matthew Shawn Morris sold 17,096 shares of Privia Health Group stock. The shares were sold at an average price of $24.99, for a total value of $427,229.04.
• On Monday, May 4th, Matthew Shawn Morris sold 1,017 shares of Privia Health Group stock. The shares were sold at an average price of $24.96, for a total value of $25,384.32.

Privia Health Group Stock Up 0.7%

Privia Health Group stock traded up $0.18 during trading hours on Tuesday, hitting $25.73. The stock had a trading volume of 863,376 shares, compared to its average volume of 928,529. The company has a 50-day moving average of $23.22 and a two-hundred day moving average of $22.95. Privia Health Group, Inc. has a fifty-two week low of $18.77 and a fifty-two week high of $26.51. The company has a market cap of $3.24 billion, a PE ratio of 160.82, a price-to-earnings-growth ratio of 2.02 and a beta of 0.90.

Privia Health Group (NASDAQ:PRVA) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.11. The company had revenue of $603.85 million for the quarter, compared to analyst estimates of $560.99 million. Privia Health Group had a return on equity of 2.81% and a net margin of 0.97%.Privia Health Group’s revenue for the quarter was up 25.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.22 EPS. As a group, analysts forecast that Privia Health Group, Inc. will post 0.27 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Canaccord Genuity Group decreased their price target on shares of Privia Health Group from $35.00 to $34.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. Weiss Ratings cut shares of Privia Health Group from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, May 8th. Truist Financial raised their price objective on shares of Privia Health Group from $31.00 to $33.00 and gave the stock a “buy” rating in a report on Monday, March 2nd. Citigroup decreased their target price on shares of 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. Finally, Barclays dropped their price target on shares of Privia Health Group from $25.00 to $24.00 and set an “equal weight” rating for the company in a research report on Tuesday, May 26th. Eleven research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, Privia Health Group presently has a consensus rating of “Moderate Buy” and an average price target of $31.15.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Royal Bank of Canada lifted its holdings in shares of Privia Health Group by 63.5% during the first quarter. Royal Bank of Canada now owns 245,633 shares of the company’s stock valued at $5,514,000 after acquiring an additional 95,371 shares during the period. AQR Capital Management LLC grew its holdings in shares of Privia Health Group by 24.7% in the 1st quarter. AQR Capital Management LLC now owns 40,781 shares of the company’s stock worth $916,000 after purchasing an additional 8,068 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Privia Health Group by 3.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 118,764 shares of the company’s stock worth $2,666,000 after purchasing an additional 3,714 shares in the last quarter. Intech Investment Management LLC lifted its holdings in Privia Health Group by 55.1% during the 1st quarter. Intech Investment Management LLC now owns 56,553 shares of the company’s stock valued at $1,270,000 after purchasing an additional 20,082 shares during the last quarter. Finally, Acadian Asset Management LLC bought a new position in Privia Health Group during the 1st quarter valued at about $154,000. 94.48% of the stock is currently owned by institutional investors and hedge funds.

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.