Barclays Boosts Privia Health Group (NASDAQ:PRVA) Price Target to $24.00

Privia Health Group (NASDAQ:PRVA) had its price target upped by Barclays from $23.00 to $24.00 in a research note issued to investors on Tuesday morning,Benzinga reports. Barclays currently has an equal weight rating on the stock.

Other analysts have also recently issued research reports about the stock. Canaccord Genuity Group raised their target price on shares of Privia Health Group from $29.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. JMP Securities restated a “market outperform” rating and issued a $29.00 target price on shares of Privia Health Group in a research note on Monday, April 28th. Piper Sandler raised their target price on shares of Privia Health Group from $25.00 to $40.00 and gave the stock an “overweight” rating in a research note on Friday, February 28th. Robert W. Baird raised their target price on shares of Privia Health Group from $24.00 to $26.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 15th. Finally, Truist Financial raised their target price on shares of Privia Health Group from $27.00 to $28.00 and gave the stock a “buy” rating in a research note on Thursday, April 10th. One equities research analyst has rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Privia Health Group currently has a consensus rating of “Buy” and an average price target of $27.77.

Privia Health Group Stock Performance

PRVA stock opened at $22.55 on Tuesday. Privia Health Group has a one year low of $16.37 and a one year high of $26.09. The stock has a market capitalization of $2.75 billion, a PE ratio of 225.52, a price-to-earnings-growth ratio of 3.47 and a beta of 0.87. The company has a fifty day moving average of $23.34 and a 200-day moving average of $22.71.

Insider Activity

In other Privia Health Group news, CEO Parth Mehrotra sold 15,100 shares of the firm’s stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $23.33, for a total transaction of $352,283.00. Following the completion of the transaction, the chief executive officer now directly owns 454,281 shares in the company, valued at approximately $10,598,375.73. This trade represents a 3.22% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO David Mountcastle sold 5,630 shares of the firm’s stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $22.38, for a total transaction of $125,999.40. Following the transaction, the chief financial officer now owns 179,676 shares of the company’s stock, valued at $4,021,148.88. This trade represents a 3.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 51,579 shares of company stock worth $1,226,367 in the last 90 days. 10.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Privia Health Group

Several hedge funds have recently added to or reduced their stakes in PRVA. Van Berkom & Associates Inc. purchased a new position in Privia Health Group during the 1st quarter valued at about $45,207,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Privia Health Group by 180.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,633,040 shares of the company’s stock worth $59,112,000 after purchasing an additional 1,693,870 shares during the last quarter. Nuveen LLC acquired a new stake in shares of Privia Health Group during the 1st quarter worth about $26,899,000. Loomis Sayles & Co. L P boosted its stake in shares of Privia Health Group by 55.0% during the 4th quarter. Loomis Sayles & Co. L P now owns 1,418,234 shares of the company’s stock worth $27,727,000 after purchasing an additional 503,002 shares during the last quarter. Finally, Durable Capital Partners LP boosted its stake in shares of Privia Health Group by 3.4% during the 4th quarter. Durable Capital Partners LP now owns 11,487,843 shares of the company’s stock worth $224,587,000 after purchasing an additional 378,255 shares during the last quarter. 94.48% of the stock is currently owned by hedge funds and other institutional investors.

About Privia Health Group

Privia Health Group, Inc operates as a national physician-enablement company in the United States. The company collaborates with medical groups, health plans, and health systems to optimize physician practices, enhance patient experiences, and reward doctors for delivering care in-person and virtual settings.