Privia Health Group (NASDAQ:PRVA) Rating Lowered to “Strong Sell” at Zacks Research

Privia Health Group (NASDAQ:PRVA) was downgraded by investment analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Tuesday,Zacks.com reports.

A number of other equities research analysts have also weighed in on PRVA. Weiss Ratings raised shares of Privia Health Group from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, July 2nd. Evercore set a $26.00 price target on shares of Privia Health Group in a research note on Wednesday, April 8th. Canaccord Genuity Group lowered their price objective on shares of Privia Health Group from $35.00 to $34.00 and set a “buy” rating for the company in a report on Friday, May 8th. Finally, Barclays cut their price objective on Privia Health Group from $25.00 to $24.00 and set an “equal weight” rating on the stock in a research report on Tuesday, May 26th. Eleven analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $31.15.

Privia Health Group Trading Down 0.1%

Shares of Privia Health Group stock opened at $27.21 on Tuesday. The company’s fifty day simple moving average is $23.65 and its two-hundred day simple moving average is $23.08. The company has a market cap of $3.43 billion, a P/E ratio of 170.07, a PEG ratio of 2.15 and a beta of 0.83. Privia Health Group has a 12-month low of $18.77 and a 12-month high of $27.70.

Insider Buying and Selling at Privia Health Group

In related news, CFO David Mountcastle sold 24,734 shares of the company’s stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $27.50, for a total value of $680,185.00. Following the sale, the chief financial officer owned 186,728 shares in the company, valued at $5,135,020. This represents a 11.70% decrease in their position. The transaction 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. Also, CEO Parth Mehrotra sold 105,439 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $22.55, for a total value of $2,377,649.45. Following the transaction, 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 position. The disclosure for this sale is available in the SEC filing. 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. Over the last quarter, insiders sold 456,980 shares of company stock valued at $11,493,887. Corporate insiders own 5.70% of the company’s stock.

Institutional Investors Weigh In On Privia Health Group

A number of institutional investors have recently modified their holdings of the stock. Bayban purchased a new position in shares of Privia Health Group in the 4th quarter worth about $26,000. Hantz Financial Services Inc. grew its position in Privia Health Group by 456.2% during the 4th 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 during the last quarter. Global Retirement Partners LLC increased its stake in Privia Health Group by 579.8% during the 4th 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. Harbor Investment Advisory LLC bought a new stake in Privia Health Group during the 2nd quarter valued at about $69,000. Finally, Canada Pension Plan Investment Board raised its holdings in 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 worth $85,000 after buying an additional 1,200 shares during the last quarter. 94.48% of the stock is owned by hedge funds and other 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.